Shell and other companies such as France’s EDF and Norway’s Statkraft have been investing in EV charging infrastructure to cash in on the growing demand for EVs.
As part of the deal, Shell USA will also provide loans to Volta to help the company through the closing of the deal.
Volta’s shares rose 18% to 86 cents in premarket trade.
Goldman Sachs and Barclays Capital served as advisers to Volta, while Shearman & Sterling LLP served as its legal adviser.
(Reporting by Nathan Gomes in Bengaluru Editing by Vinay Dwivedi) – Reuters
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