Leading blockchain data center company
integrates Voltus DER software platform to support NYISO grid
reliability
Voltus, Inc. (“Voltus”), the leading distributed energy resource
(DER) software technology platform, and Coinmint, LLC (“Coinmint”)
a leading blockchain data center company, today announce
they are supporting grid reliability by delivering 100 megawatts
(MWs) of demand response to the New York Independent System
Operator (NYISO).
Located in Massena, New York, Coinmint’s operating subsidiary,
North Country Colocation Services Corp., operates a facility run
almost exclusively by hydroelectric power and achieves an energy
mix that is estimated to be 99% renewable. This is consistent with
Coinmint’s focus on environmental, social, and governance (ESG)
best practices.
“At Coinmint, we are focused on being a responsible energy
partner to New York State, and Voltus’s innovative platform allows
us to deliver load flexibility to NYISO, supporting grid
reliability,” said Ashton Soniat, CEO of Coinmint. “Voltus can
remotely reduce our electricity consumption nearly to zero, helping
to keep the homes and communities around us fully powered. We want
to continue to give back to the community and work hand-in-hand
with the great New Yorkers that have welcomed us to their
state.”
“Coinmint’s New York data center is integrated directly into the
grid using the Voltus platform,” says Gregg Dixon, Voltus CEO and
Co-founder. “Our technology allows blockchain data center companies
like Coinmint to operate more efficiently and diversify their
offerings, while also furthering their ESG goals by providing
critical local electricity support.”
The Voltus software platform connects DERs to electricity
markets, maximizing the availability of these resources to grid
operators. Voltus is the only DER software platform integrated into
all nine US and Canadian wholesale power markets. Voltus works with
some of the world’s largest energy consumers and blockchain data
center companies, connecting all types of DERs to the grid,
including electric vehicles, data mining computers, back-up power
sources, and almost any device with a battery.
About Coinmint
Coinmint, through its operating subsidiary North Country
Colocation Services Corp., operates one of the most environmentally
friendly blockchain data centers in the world, in a former Alcoa
Aluminum smelter in Massena, NY. With facilities in Massena and
Plattsburgh, NY, Coinmint provides co-location services to third
party digital currency miners and also conducts self-mining
operations. Coinmint’s innovative approach, material advantage, and
best-of-class partnerships and management team offer its clients an
opportunity to succeed in the exciting world of blockchain
technology. Find out more at www.nccs.one and www.coinmint.one.
About Voltus, Inc.
Voltus is the leading software technology platform connecting
distributed energy resources to electricity markets, delivering
less expensive, more reliable, and more sustainable electricity.
Our commercial and industrial customers and DER partners generate
cash by allowing Voltus to maximize the value of their flexible
load, distributed generation, energy storage, energy efficiency,
and electric vehicle resources in these markets. To learn more,
visit www.voltus.co.
On November 30, 2021 Voltus and Broadscale Acquisition
Corp.(“Broadscale”) (Nasdaq: SCLE) entered into a definitive merger
agreement. Upon the Closing of the Transaction, the combined
company will be named Voltus Technologies, Inc. and is expected to
remain listed on the Nasdaq under the new ticker symbol “VLTS.” The
transaction is expected to close in the first half of 2022 and
requires the approval of Broadscale’s stockholders, the
Registration Statement being declared effective by the SEC, and
other customary closing conditions.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended (the “Securities Act”), and Section 21E of the
Securities Exchange Act of 1934, as amended, including certain
financial forecasts and projections. All statements other than
statements of historical fact contained in this press release,
including statements as to future results of operations and
financial position, revenue and other metrics, planned products and
services, business strategy and plans, objectives of management for
future operations of Voltus market size and growth opportunities,
competitive position and technological and market trends, are
forward-looking statements. Some of these forward-looking
statements can be identified by the use of forward-looking words,
including “may,” “should,” “expect,” “intend,” “will,” “estimate,”
“anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,”
“could,” “would,” “continue,” “forecast” or the negatives of these
terms or variations of them or similar expressions. All
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward-looking statements.
All forward-looking statements are based upon estimates, forecasts
and assumptions that, while considered reasonable by Broadscale and
its management, and Voltus and its management, as the case may be,
are inherently uncertain and many factors may cause the actual
results to differ materially from current expectations which
include, but are not limited to: 1) the occurrence of any event,
change or other circumstance that could give rise to the
termination of the definitive merger agreement with respect to the
business combination; 2) the outcome of any legal proceedings that
may be instituted against Voltus, Broadscale, the combined company
or others following the announcement of the business combination
and any definitive agreements with respect thereto; 3) the
inability to complete the business combination due to the failure
to obtain approval of the stockholders of Broadscale or Voltus, or
to satisfy other conditions to closing the business combination; 4)
changes to the proposed structure of the business combination that
may be required or appropriate as a result of applicable laws or
regulations or as a condition to obtaining regulatory approval of
the business combination; 5) the ability to meet Nasdaq's listing
standards following the consummation of the business combination;
6) the risk that the business combination disrupts current plans
and operations of Voltus as a result of the announcement and
consummation of the business combination; 7) the inability to
recognize the anticipated benefits of the business combination,
which may be affected by, among other things, competition, the
ability of the combined company to grow and manage growth
profitably, maintain relationships with customers and suppliers and
retain its management and key employees; 8) costs related to the
business combination; 9) changes in applicable laws or regulations;
10) the possibility that Voltus or the combined company may be
adversely affected by other economic, business and/or competitive
factors; 11) Voltus’s estimates of its financial performance; 12)
the risk that the business combination may not be completed in a
timely manner or at all, which may adversely affect the price of
Broadscale’s securities; 13) the risk that the transaction may not
be completed by Broadscale’s business combination deadline and the
potential failure to obtain an extension of the business
combination deadline if sought by Broadscale; 14) the impact of the
novel coronavirus disease pandemic, including any mutations or
variants thereof, and its effect on business and financial
conditions; 15) inability to complete the PIPE investment in
connection with the business combination; and 16) other risks and
uncertainties set forth in the sections entitled “Risk Factors” and
“Cautionary Note Regarding Forward-Looking Statements” in
Broadscale’s registration statement on Form S-4 (File No.
333-262287), filed with the SEC on January 21, 2022 (the
“Registration Statement”), and other documents filed by Broadscale
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Nothing in this press release should be
regarded as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward looking statements will be
achieved. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Neither
Broadscale nor Voltus gives any assurance that either Broadscale or
Voltus or the combined company will achieve its expected results.
Neither Broadscale nor Voltus undertakes any duty to update these
forward-looking statements, except as otherwise required by
law.
Use of Projections
This press release may contain financial forecasts of Voltus.
Neither Voltus’s independent auditors, nor the independent
registered public accounting firm of Broadscale, audited, reviewed,
compiled or performed any procedures with respect to the
projections for the purpose of their inclusion in this press
release, and accordingly, neither of them expressed an opinion or
provided any other form of assurance with respect thereto for the
purpose of this press release. These projections should not be
relied upon as being necessarily indicative of future results. The
projected financial information contained in this press release
constitutes forward-looking information. The assumptions and
estimates underlying such projected financial information are
inherently uncertain and are subject to a wide variety of
significant business, economic, competitive and other risks and
uncertainties that could cause actual results to differ materially
from those contained in the prospective financial information. See
“Forward-Looking Statements” above. Actual results may differ
materially from the results contemplated by the projected financial
information contained in this press release, and the inclusion of
such information in this press release should not be regarded as a
representation by any person that the results reflected in such
projections will be achieved.
Additional Information and Where to Find It
In connection with the proposed transaction, Broadscale has
filed with the U.S. Securities and Exchange Commission the
Registration Statement, which included a preliminary proxy
statement and a preliminary prospectus. After the Registration
Statement has been declared effective, Broadscale will mail a
definitive proxy statement /prospectus relating to the proposed
transaction to its stockholders as of the record date established
for voting on the proposed transactions. Broadscale’s
stockholders and other interested persons are urged to carefully
read the Registration Statement, including the preliminary proxy
statement / preliminary prospectus, and any amendments thereto,
and, when available, the definitive proxy statement/prospectus and
other documents filed in connection with the proposed transaction,
as these materials contain, or will contain, important information
about the proposed transaction and the parties to the proposed
transaction.
Broadscale’s stockholders and other interested persons will be
able to obtain free copies of the Registration Statement, the
preliminary proxy statement / preliminary prospectus, the
definitive proxy statement/prospectus and all other relevant
documents filed or that will be filed with the SEC, without charge,
when available, at the website maintained by the SEC at
www.sec.gov.
The documents filed by Broadscale with the SEC also may be
obtained free of charge at Broadscale’s website at
https://www.broadscalespac.com or upon written request to 1845
Walnut Street, Suite 1111, Philadelphia, PA 19103.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS
APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS
RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS
COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR
ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY
REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation
Broadscale and Voltus and their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from Broadscale’s stockholders in
connection with the proposed transactions. Broadscale’s
stockholders and other interested persons may obtain, without
charge, more detailed information regarding the directors and
executive officers of Broadscale listed in the Registration
Statement. Information regarding the persons who may, under SEC
rules, be deemed participants in the solicitation of proxies from
Broadscale’s stockholders in connection with the proposed business
combination is set forth in the Registration Statement.
No Offer or Solicitation
This press release is not intended to and does not constitute an
offer to sell or the solicitation of an offer to buy, sell or
solicit any securities or any proxy, vote or approval, nor shall
there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. No offer of securities shall be deemed to be made
except by means of a prospectus meeting the requirements of Section
10 of the Securities Act.
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version on businesswire.com: https://www.businesswire.com/news/home/20220315005490/en/
Investor Relations – Voltus
Sioban Hickie, ICR, Inc. Eduardo Royes, ICR, Inc.
Investors@Voltus.co
Media – Voltus
Matt Dallas, ICR, Inc. VoltusPR@icrinc.com
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