Energy startup VoltaGrid said on Monday it ​has signed agreements ‌for $1 billion in equity investment from funds managed by ​Blackstone Tactical Opportunities (BX.N) ​and oilfield services provider ⁠Halliburton (HAL.N).

VoltaGrid said the deal ​would accelerate the development ​of power generation solutions for data centers, microgrids and ​industrial applications.

The investment is ​composed of a $775 million capital ‌raise ⁠and a $225 million secondary purchase from existing investors.

VoltaGrid said it had also ​entered ​a ⁠separate deal to acquire one of ​its suppliers, Propell ​Energy ⁠Technology, for an undisclosed amount.

The transactions are expected ⁠to ​close in ​mid-2026.