Blackstone, Halliburton back US microgrid startup with $1 billion

HOUSTON, May 12, 2026 – US microgrid and power equipment supplier VoltaGrid has secured a USD 1-billion strategic equity investment from Blackstone and Halliburton to deploy power generation equipment for data centres, VoltaGrid announced on Monday.

The investment comprises a USD 775-million primary capital raise and a USD 225-million secondary purchase from existing investors. VoltaGrid will use the proceeds to accelerate the deployment of its behind-the-meter power generation equipment for data centres, microgrids and industrial customers.

“This partnership with Blackstone is a powerful endorsement of the platform we have built and the role VoltaGrid is playing in delivering the energy infrastructure of the AI era. Blackstone’s scale and sector expertise make them an ideal partner as we accelerate the deployment of our behind-the-meter power solutions to meet unprecedented customer demand,” said Nathan Ough, founder and CEO of VoltaGrid.

VoltaGrid also announced it has agreed to acquire power equipment manufacturer Propell Energy Technology for an undisclosed amount. With the deal, VoltaGrid aims to strengthen its supply chain and reduce execution risk on its order book, which the company said totals approximately 7.5 GW through 2030.

Headquartered in Houston, VoltaGrid provides gas-fired generators and microgrids, CNG and energy management services for data centres, utilities and industrial customers, primarily in North America. Propell Energy manufactures oil and gas equipment and power systems in the US and Canada.

Photo courtesy of VoltaGrid

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