VoltaGrid, a behind-the-meter power generation business, has announced that it has signed agreements for a $1 billion strategic equity investment from funds managed by Blackstone Tactical Opportunities and Halliburton Co. The investment is composed of a $775 million primary capital raise and a $225 million secondary purchase from existing investors.
Proceeds of the capital raise will be used to accelerate deployment of VoltaGrid’s behind-the-meter power generation solutions for data centers, microgrids and industrial applications.
In addition to the investment, VoltaGrid has signed a definitive agreement to acquire Propell Energy Technology Ltd. and its affiliates, a key VoltaGrid supplier.
Both transactions are subject to customary closing conditions and are expected to close in mid-2026.
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