Software firm Voltus to go public in $1.3B SPAC deal

San Francisco-based company, Voltus Inc. will go public in a $1.3 billion-worth merger with a special-purpose acquisition company (SPAC) named Broadscale Acquisition Corporation, the two firms said on Wednesday.

The move will allow Voltus to further grow its flagship distributed energy resources (DER) business, which allows users to sell excess electricity back to the grid, the company CEO, Gregg Dixon, said to The Wall Street Journal.

Voltus' clients include Coca-Cola Co. and Home Depot Inc., the outlet explained.

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