Voltagrid Announces The Acquisition Of Pilot’S Cng Virtual Pipeline Assets And Closes New Revolving Credit Facility
Acquiring Company
VoltaGrid LLC
Acquired Company
CNG Pipeline Assets
Description
VoltaGrid LLC (“VoltaGrid” and “Company”) and Pilot Company (“Pilot”) entered into and closed a definitive agreement for VoltaGrid to acquire substantially all assets of Pilot’s CNG compression, CNG virtual pipeline and CNG logistics platform (the “Acquisition”). Through the Acquisition, VoltaGrid will become the largest vertically integrated portable power generation and clean fuels platform in North America. The combined platform will provide a reliable and cost-effective solution to advance electric completions, remote mining decarbonization, utility grid reinforcements and hydrogen blending partnerships. The Company expects to significantly increase its footprint across the USA by developing a low carbon fuels network to decarbonize key oil & gas basins, active industrial regions, carbon intensive mining operations and the transportation market.