Voltus last week canceled its SPAC merger with Broadscale Acquisition Corp., a deal that had valued Voltus at $1.3b. Axios reached out to Voltus with followup questions about the busted deal, and Kelly Yazdani, VP of marketing, responded.
Why it matters: Voltus, which connects distributed energy resources (DERs) with electricity markets, has described itself as the Airbnb of the electric grid.
But even those lofty aspirations — and marquee customers like Coca-Cola and Home Depot — couldn't overcome a SPAC market that's all but ground to a halt.
Voltus and Broadscale "mutually called off" the SPAC, Yazdani says.
