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IMPORTANT NEWS:

Volta Inc. Reports Financial Results for Third Quarter 2021

COMAPNY OF THE WEEK:

META PLATFORMS (FB)

Volta Inc. Reports Financial Results for Third Quarter 2021

 Volta Inc. Reports Financial Results for Third Quarter 2021

Third Quarter Revenue Up 77% year-over-year (“YoY”) to $8.5 Million, up 22% quarter-over-quarter (“QoQ”)

– 50% YoY growth in Total Installed Stalls - 2,137 as of Sept 30, 2021, up 168 in the quarter

– Added new media brands Visa, DHL and Discover to the platform; while Comcast, Dunkin’, FedEx, and Hulu returned as repeat advertisers

SAN FRANCISCO--(BUSINESS WIRE)-- Volta Inc. (NYSE: VLTA) ("Volta" or "the Company"), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, today announced financial results for its third quarter ended September 30, 2021.

“This year has been momentous for Volta as we continue our mission to build the fueling infrastructure of the future and support the multi-generational shift to electric mobility,” said Scott Mercer, Founder and CEO of Volta. “Since announcing our business combination with Tortoise in February, we have continued growing our Network Development partner relationships across multiple sectors and flagship community locations, while further strengthening our Behavior and Commerce customer base. I couldn’t be more excited about Volta’s future. Our significant pipeline provides a strong foundation for future growth that will further compound the value of our network.”

Key Company Highlights

• Six Flags Agreement partnering with Six Flags Entertainment Corporation, the world’s largest regional theme park company and the largest operator of waterparks in North America, to make EV charging accessible at their parks across the United States serving hundreds of millions of guests.
• Launch of PredictEV™ product, a machine learning and artificial intelligence driven solution for infrastructure planning, with a multi-year commitment from Southern Company, the second largest utility company in the United States, to utilize the product in its transportation electrification programs.
• Partnering with Bloomberg Media for first-of-its-kind, “Air Pollution Scoreboard” digital place-based integration featuring climate change-focused editorial content across Volta’s national network.