HOUSTON – May 11, 2026 – VoltaGrid LLC (“VoltaGrid” or the “Company”), a leading provider of scalable, behind-the-meter power generation and infrastructure solutions, today announced that it has entered into a definitive agreement to acquire Propell Energy Technologies Ltd. and its affiliates (collectively, “Propell”).
The acquisition establishes a strategically integrated manufacturing and engineering platform that includes operations in Rosedale, British Columbia; Calgary, Alberta; and Granbury, Texas, with this cross-border footprint significantly enhancing VoltaGrid’s ability to design, build, and deploy advanced power systems at scale, across North America.
As part of the transaction, VoltaGrid will immediately invest in expanding on Propell’s existing facilities in Texas by building two additional next-generation automated manufacturing plants. This is expected to grow its capabilities to ~300 MW per month of capacity through a combination of reciprocating engines and turbines.
The transaction is subject to customary closing conditions and is expected to close in mid-2026.
Strategic Benefits of Propell Acquisition
The acquisition of Propell Technologies Group represents a major step in VoltaGrid’s strategy to build a fully integrated, end-to-end power solutions platform.
- Vertical Integration at Scale: Propell brings critical product development, manufacturing, and system integration capabilities in-house—strengthening control over quality, timelines, and cost.
- Proven Manufacturing Legacy: Propell is built on a 48-year legacy of designing and manufacturing complex industrial equipment and power systems, with a reputation for innovation, reliability, and execution.
- Expanded North American Footprint: The platform operates across three key hubs in Canada and the United States, positioning VoltaGrid to better serve customers across critical energy and infrastructure markets.
- Accelerated Innovation & Deployment: The integration enhances VoltaGrid’s ability to rapidly develop and deploy proprietary technologies for high-demand applications, including AI data centers, microgrids, utilities, and industrial operations.
- Improved Supply Chain & Execution Certainty: Bringing manufacturing and engineering capabilities in-house is expected to reduce execution risk and support delivery across VoltaGrid’s growing multi-year project pipeline.
Nathan Ough, Founder and Chief Executive Officer of VoltaGrid, said:
“The acquisition of Propell adds proven engineering and integration capabilities that will further extend our technology and operational leadership as we continue to scale.”
Continuity and Strengthened Partnerships
- No disruption to operations: Existing projects, programs, and commercial relationships are expected to continue without interruption. Day-to-day operations, delivery commitments, and service levels remain unchanged.
- Organizational continuity: TYCROP Manufacturing Ltd. and Propell Alberta Ltd. will continue to operate as part of the VoltaGrid LLC group, while Propell’s U.S. operations in Granbury, Texas will transition to operate under VoltaGrid. The executive team and management group remain unchanged, committed to the continued success of the business and supporting all existing business sectors, customers, suppliers and stakeholders
- Stronger platform, enhanced capabilities: With the backing of VoltaGrid LLC, the business is positioned to expand its capabilities, invest in growth, and further strengthen execution across its product and service offerings.
- Ongoing commitment to partners: The company will continue to support its established network of customers and suppliers through existing teams and relationships, while creating additional opportunities for collaboration as the platform scales.
- Long-term investment and growth: The transaction supports sustained growth across all operating locations, enabling the business to meet increasing demand and deepen its role in critical energy and infrastructure markets.
Scott Mason, Chief Executive Officer of Propell, said:
“This transaction provides long-term stability and meaningful opportunity for our people across all our locations. We’ve built a strong business over nearly 5 decades, and becoming part of the VoltaGrid team positions us for a very bright future. Their commitment to investing in our operations, supporting our teams, and growing the platform makes this the right next chapter for the group of companies.”
About VoltaGrid
VoltaGrid is an advanced energy management and generation company delivering firm, off-grid power solutions for mission-critical applications. Founded in 2020 and headquartered in Houston, Texas, the company serves data centers, AI infrastructure, utilities, and industrial customers across North America.
Forward-Looking Statements: This press release contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company, Blackstone and Halliburton’s current views with respect to, among other things, the Company’s operations and financial performance, and the benefits of the strategic equity investment and acquisition referred to herein. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “scheduled,” “estimates,” “anticipates,” “opportunity,” “leads,” “forecast,” “possible” or the negative version of these words or other comparable words. These statements are not guarantees of future performance and involve a number of assumptions, risks, and uncertainties that could cause actual results to differ materially from expected results. These statements speak only as of the date of this release, and the Company, Blackstone and Halliburton undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.