Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

VoltaGrid Announces the Acquisition of Pilot’s CNG Virtual Pipeline Assets and Closes New Revolving Credit Facility

HOUSTON, Dec. 09, 2022 (GLOBE NEWSWIRE) -- VoltaGrid LLC (“VoltaGrid” and “Company”) and Pilot Company (“Pilot”) entered into and closed a definitive agreement for VoltaGrid to acquire substantially all assets of Pilot’s CNG compression, CNG virtual pipeline and CNG logistics platform (the “Acquisition”). Through the Acquisition, VoltaGrid will become the largest vertically integrated portable power generation and clean fuels platform in North America. The combined platform will provide a reliable and cost-effective solution to advance electric completions, remote mining decarbonization, utility grid reinforcements and hydrogen blending partnerships. The Company expects to significantly increase its footprint across the USA by developing a low carbon fuels network to decarbonize key oil & gas basins, active industrial regions, carbon intensive mining operations and the transportation market.

The Acquisition builds off a well-developed relationship that the two companies formed in 2020 in conjunction with Pilot’s investment in VoltaGrid’s low carbon power generation platform. The strength of the vertically integrated platform will significantly increase the overall asset base of VoltaGrid by creating a market leading:

  • 870,000 Diesel Gallons Equivalent Per Day of CNG Production Capacity by Q2 2023.
  • Over 160 committed CNG trailers dedicated to electric completions, dual fuel and water heating operations by Q2 2023.
  • Over 50,000 mcf per day of field gas processing and compression enabling a seamless transition between CNG and field gas for electrification.
  • A large-scale investment in a CNG & Hydrogen blending terminal in Arizona dedicated to remote mining, construction and grid electrification projects in the region.

Pilot Company Vice President of Business Development and Strategy John Tully said “Pilot is excited to continue to support the VoltaGrid platform and remains a dedicated shareholder as the company embarks on its decarbonization efforts across North America. We believe the combined entity will gain from capital efficiencies and synergies that will benefit our team members, stakeholders and customers.

Key Focus Drivers for Customer Value Generation:

  • VoltaGrid’s power generation customers can now access a reliable network of CNG, RNG and Hydrogen fuel supply as part of a turnkey package offering paired with power generation;
  • Significant cost efficiencies by cross utilizing resources between power generation and fuel deliveries
  • Seamless transitions available between field gas and CNG supply for electric power generation without having to manage multiple suppliers
  • VoltaGrid utility customers gain access to a dedicated fueling infrastructure base to efficiently supply low carbon fuels for grid reinforcement projects
  • Allows VoltaGrid to maximize capital efficiencies enabling an expedited build-out of the necessary infrastructure

In conjunction with the Acquisition, the Company has entered into a senior secured revolving credit facility (the “Facility”) that provides immediate access to USD $175 million and up to USD $250 million under certain conditions. The Facility includes support from BMO Capital Markets, The Toronto-Dominion Bank, National Bank of Canada, Scotiabank and Cadence Bank.

BMO Capital Markets acted as Sole Lead Arranger and Administrative Agent for the Facility and as Financial Advisor for the Acquisition.

About VoltaGrid

VoltaGrid is an advanced energy management and generation company that is developing an innovative platform to provide power, energy storage and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries. VoltaGrid’s fully integrated artificial intelligence platform provides live emissions tracking, asset carbon intensity, automated back-office management and ESG reporting on a centralized database.

VoltaGrid recently announced the closing of an equity raise of USD $150 million USD that included strategic, follow-on investments from Canada Pension Plan Investment Board (“CPP Investments”), Longbow Capital, Pilot Company and Walter Ventures.

www.VoltaGrid.com

About Pilot

Pilot Travel Centers LLC ("Pilot Company") keeps North America's drivers moving as one of the leading suppliers of fuel and the largest operator of travel centers. Founded in 1958 and headquartered in Knoxville, Tennessee, Pilot Company has grown its network to more than 800 retail and fueling locations and as the third largest tanker fleet in North America, supplies more than 14 billion gallons of fuel per year to the market. Its energy division also supplies DEF, bio and renewable fuels and provides hauling and disposal services to the oil field sector. Pilot Company serves 1.5 million guests per day and provides over 70,000 fleet customers with solutions for fuel, credit, factoring, services and rewards. Its Pilot Flying J Travel Center network includes over 750 locations in 44 states and five Canadian provinces with more than 790 restaurants, 75,000 truck parking spaces, 5,300 deluxe showers, 6,200 diesel lanes and offers truck maintenance and tire service with Southern Tire Mart at Pilot Flying J. The One9 Fuel Network connects a variety of fueling locations to provide smaller fleets and independent professional drivers with everyday value, convenience, credit and perks. More information on locations and rewards are available in the myRewards Plus™ app.

Pilot Company is currently ranked No. 7 on Forbes' list of America's Largest Private Companies. For additional information about Pilot Company, its 28,000 team members and commitment to giving back, visit www.pilotcompany.com.

For more information contact:

Nathan Ough
President & CEO
VoltaGrid LLC
C:1-281-636-3074
E: Nathan.Ough@VoltaGrid.com

Robert Norris
Chief Financial Officer
VoltaGrid LLC
C: (512) 917-1982
E: Robert.Norris@VoltaGrid.com


Primary Logo

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.