What happened to Project Volta?
project
Solution
Volta was able to compile MSIL code into any appropriate endpoint. The idea was to write your logic in MSIL (ie. VB.Net, C#) and to compile it into the technology most appropriate for the tier it was being used on. So for example, it would compile to SQL in the data tier, regular CLR in the middle tier and Silverlight in the web tier.
Since Volta was a technology preview, there was no guarantee that it would ever be released. It looks like they have pulled the plug on the project - they say temporarily, but it has been over a year now.
One of Volta's abilities was to compile C# code into JavaScript. If this is what you are after, there is a similar project available called Script#, developed by Nikhil Kothari of the .NET Developer Platform group.
Problem
And what exactly is it? The only MS page I could find says its temporarily offline, however that was almost a year ago: http://livelabs.com/blog/volta-offline/