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Blackstone, Halliburton to Invest $1 Billion in Energy Startup VoltaGrid
The deal includes a $775 million primary raise and a $225 million secondary purchase as VoltaGrid expands power solutions for data centers and industrial customers.
- On Monday, May 11, 2026, VoltaGrid LLC announced a $1.0 billion strategic equity investment from Blackstone Tactical Opportunities and Halliburton Company, while signing a definitive agreement to acquire supplier Propell Energy Technology Ltd.
- VoltaGrid, founded in 2020, provides behind-the-meter power generation for AI data centers and industrial applications. The capital injection accelerates deployment of these solutions to meet unprecedented customer demand.
- The investment comprises a $775 million primary capital raise and $225 million secondary purchase. The Propell acquisition vertically integrates the proprietary QPac system to reduce execution risk across VoltaGrid's ~7.5 GW order book.
- VoltaGrid will immediately expand Propell's facilities in Granbury, Texas, by building two automated manufacturing plants, expected to grow production capacity to ~300 MW per month through reciprocating engines and turbines.
- Propell's approximately 1,000 employees in the USA and Canada will enhance VoltaGrid's R&D and after-sales service capabilities. Both transactions are expected to close in mid-2026.
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VoltaGrid Announces $1 Billion Strategic Equity Investment from Blackstone and Halliburton to Fund Growth and Acquisition of Propell (2026-05-11)
The acquisition of Propell represents a transformative step in VoltaGrid's evolution into a fully integrated power generation platform and offers several strategic benefits:. VoltaGrid and Propell have historically worked hand-in-hand on technology development. We expect the combined platform will accelerate our ability to bring new technologies...
·United States
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The Toronto Star+3 Reposted by 3 other sources
VoltaGrid Announces $1 Billion Strategic Equity Investment from Blackstone and Halliburton to Fund Growth and Acquisition of Propell
HOUSTON, May 11, 2026 (GLOBE NEWSWIRE) -- VoltaGrid LLC ("VoltaGrid" or the "Company"), a leading behind-the-meter power generation business, today announced that it has signed agreements for a $1.0 billion strategic equity investment from funds managed by Blackstone Tactical Opportunities…
·Toronto, Canada
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Total News Sources12
Leaning Left3Leaning Right3Center3Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
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