SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, today announced the launch of the Volta Media™ Network, offering advertisers a digital, location-based network that engages consumers where they shop, simultaneously driving measurable business results and environmental impact.
In the next three years, electric cars will be more affordable than internal combustion engine cars. Additionally, $500 billion of U.S. gas stations’ revenue is up for grabs as more and more drivers go electric. People will no longer go to the gas station to fuel up - they will fuel up where they already go. Volta’s EV charging network is predicated on this fundamental shift in transportation and its associated infrastructure needs as the world moves to more sustainable sources of mobility.
Volta's charging stations feature high-impact digital screens directly in front of top commercial locations and display content for drivers who plug their vehicles into the stations and the customers who shop at nearby retailers. Volta Media™ offers brands a dynamic content platform that allows them to engage potential customers and influence behavior right before they walk into a store or other commercial property to make a purchase.
Brands advertising with Volta Media™ have seen a 44% lift in awareness, a 66% lift in consideration, and a 59% increase in purchase intent (source: Volta’s third-party brand study benchmarks).
“The biggest economic opportunity isn’t in conquesting fueling dollars; it’s in unlocking the spend that will accompany the behavior shift around fueling habits. Volta is reinventing retail media by fusing high-impact digital displays with EV charging, connecting brands to the most powerful audience movement in a generation,” said Nadya Kohl, Chief Marketing Officer, Volta. “Consumers are increasingly focused on sustainability, and they’re giving their attention and wallets to the brands that are doing the same. We offer advertisers the ability to participate in a unique medium that showcases their commitment to driving cultural relevance and true environmental impact.”
Campaigns on the Volta Media™ Network also support the transition to an electric future by powering electric miles and reducing CO2 emissions. To date, Volta has offset 44 million pounds of CO2 and delivered 100 million electric miles.
“Now more than ever before, brands are experiencing new sustainability expectations from consumers and working to create more sustainable products, services, and marketing programs to drive growth,” said Keith Kaplan, Global CEO at Kinetic. “Volta has built a unique media network, one that offers our clients beautiful screens, locations immediately before the point of purchase, and alignment with their sustainability commitments. We’re thrilled to see the formal launch of Volta Media and we look forward to continuing to work together to help our clients make an impact.”
According to new, nationwide research by F’inn in September 2021, consumers are prioritizing sustainability, and that focus is increasingly shaping their behaviors and the brands with which they interact:
- Nearly 50% of consumers identify as caring about the environment and make decisions about the brands they choose with environmental practices in mind.
- 35% of U.S. adults say that sustainability is a top priority and that they go out of their way to reduce their environmental impact.
- More than 50% of the general population would be more interested in doing business with a company that commits to various sustainability efforts.
“The rise of electric mobility is one of the largest macroeconomic trends of our time,” said Brandt Hastings, Chief Revenue Officer, Volta. “Climate consciousness has gone mainstream, and brands with a focus on sustainability have the opportunity to capture massive growth. We invite brands to grow with us as we continue to expand our network at grocery stores, pharmacies, retail, and entertainment venues in communities nationwide to reach shoppers right before they make a purchase decision.”
Brands that have partnered with Volta to make an impact include Netflix, Alaska Airlines, smartwater, Chase, Starbucks, Nestle, Anheuser-Busch, Cox, and Hulu.
The full report of research findings is available here.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop, and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands, and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Registration Statement on Form S-1, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
