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Voltagrid Announces The Acquisition Of Pilot’S Cng Virtual Pipeline Assets And Closes New Revolving Credit Facility

Dec 09, 2022•over 2 years ago

Acquiring Company

VoltaGrid LLC

Acquired Company

CNG Pipeline Assets

HoustonNatural ResourcesSustainabilityEnergy

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.

Company Information

Company

VoltaGrid LLC

Location

917 MULBERRY LANE

Houston, Texas, United States

About

“By capitalizing on our proven technology, we will continue to provide pressure pumping companies a more efficient electrification solution to deliver improved ESG performance for operators.” “Longbow continues to be a long-term supporter of the VoltaGrid team and the work that the company has completed to engineer, develop and execute their next generation low carbon, industrial scale, remote power generation strategy. The company continues to foster long term partnerships with key organizations that are focused on reducing their carbon footprint and future capital requirements. VoltaGrid was founded in 2020 by a seasoned energy-service team to provide innovative electric power solutions that increase reliability and reduce emissions for pressure pumping, remote mining, utility and distributed generation applications. Pilot Company Vice President of Business Development and Strategy John Tully said, “VoltaGrid is a partner to Pilot that aligns with our efforts to serve the energy, fuel and trucking industries. VoltaGrid is an advanced energy management and generation company that has developed an innovative platform to provide power, energy storage and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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