JOLT Bets EV Chargers Can Double as a Media Network

Acquisition of Shell’s Volta screens tests whether landlords can profit from both electrons and eyeballs.

From Charging Consolidation to Media Experiment

JOLT’s move to buy Shell’s Volta Media Network is more than another consolidation in the charging business. It’s a test of whether EV stalls can double as a durable media platform — and whether landlords can claim a slice of that upside, not just the power bill.

Sydney-based JOLT, which operates ad-supported fast chargers in Australia, Canada, New Zealand and the U.K., has agreed to acquire “a substantial portion” of Shell’s Volta Media Network in the United States. The deal, expected to close Jan. 1, 2026, will add “thousands of locations” across as many as 34 states and 64 designated marketing areas, including Los Angeles, Chicago and Dallas–Fort Worth.

The purchase comes less than three years after Shell bought Volta for $169 million to scale its U.S. charging footprint, then moved to shut down most of the network. Shell dismantled more than 2,000 Volta chargers this year, telling employees it would wind down the business and rebrand remaining assets into Shell Recharge as it focused on high-speed charging at company-branded sites.

What JOLT Is Really Buying

What JOLT is acquiring is the advertising engine that survived that cull. Shell’s own marketing materials describe Volta Media as a network of more than 7,200 digital out-of-home screens on EV charging stations, delivering an estimated 1.7 billion available impressions each month across 34 states and 65 DMAs. Those screens sit in front-of-store locations at grocery centers, pharmacies and other busy retail properties — precisely the kind of foot-traffic real estate landlords want to monetize more than once.

JOLT’s model is a close cousin of Volta’s original concept, but with a twist. The company offers drivers a small daily allowance of free fast charging and then charges for additional energy, while every charger carries a digital display monetized through programmatic advertising. In markets like Canada, where JOLT is rolling out thousands of curbside chargers backed by infrastructure-bank capital, the company pitches itself as a bridge between “smart mobility” and “smart media” rather than a pure-play utility.

Volta’s Collapse as Cautionary Tale

The Volta story is a cautionary backdrop. An August analysis from German DOOH publisher invidis called Volta “the most symbolic setback” for the idea that screens on individual chargers could refinance EV infrastructure, pointing to blocked sightlines, weaker locations over time and improved vehicle range that reduced dwell time in front of the screens. AdExchanger, which first reported Shell’s decision to shut Volta’s U.S. charging network, noted that the chargers’ dual screens functioned primarily “as a way to manufacture ad inventory” even as the economics failed to keep pace with costs.

JOLT argues that scale and a hybrid revenue mix can change that math. The company and its backers say the Volta portfolio will help create what they describe as the world’s largest combined EV charging and digital out-of-home network, with a global advertiser roster that already includes brands such as McDonald’s, Amazon, Toyota, Target and American Express. A data-led ad platform promises advanced targeting, audience measurement and performance reporting, while the paid portion of the charging session is meant to shoulder more of the infrastructure and energy cost than Volta’s largely “free charging” approach did.

Why This Matters to Landlords

For commercial real estate owners, the implications are twofold. First, the footprint matters: Volta’s screens were explicitly designed to sit “where people already spend their time and money,” steps from store entrances rather than at the back of a lot. That location data — who stops, when, and for how long — can complement existing retail media networks and loyalty programs, giving landlords new ways to package onsite audiences to tenants and brands.

Second, the revenue stack is changing. Under both Volta and JOLT, property hosts can negotiate value that goes beyond a simple ground lease or utility reimbursement. In past Volta deals, retailers sometimes received a portion of ad inventory to fold into their own media networks. Going forward, landlords may also press for revenue sharing on both media and charging, or for access to anonymized usage data that can inform leasing and site design.

A Bellwether for Charging, Media and CRE

The risks are just as real. Analyst commentary on the Volta collapse underscores the capital intensity of outdoor-rated screens and the challenge of generating big-city ad rates in suburban parking lots. Utility Dive points out that the JOLT deal comes as many convenience retailers say they are struggling to justify EV investments at all amid uncertain utilization and profitability.

That makes this acquisition a bellwether. If JOLT can use Volta’s screens, data and locations to support a sustainable mix of ad and charging revenue, it will send a signal to U.S. landlords that EV infrastructure can be a media business as much as an energy one. If not, it will reinforce the lesson Volta already hinted at: turning parking lots into profitable media networks is a harder lift than just bolting a screen to a charger.