NeoVolta enters into $13M private placement financing

The company states: “NeoVolta (NEOV) announced that it has entered into agreements for a $13 million private placement financing anchored by Infinite Grid Capital, in connection with a long-term relationship to support NeoVolta’s next phase of scalable growth and U.S.-based manufacturing expansion. The investment is structured to provide both immediate and future capital support for NeoVolta’s planned domestic manufacturing initiative. In addition to the relationship with IGC, a substantial portion of the investment proceeds is intended to advance this initiative pursuant to a memorandum of understanding with third parties to establish and operate a state-of-the-art battery energy storage manufacturing facility in Georgia. This initiative, if pursued to completion, would emphasize domestic production aligned with federal incentives supporting battery manufacturing and compliance with relevant standards. The facility under consideration is designed for an initial annual capacity of approximately 2 GWh, with a focus on utility-level and commercial & industrial battery energy storage systems (BESS) that are expected to significantly expand NeoVolta’s addressable market and revenue opportunity. Operations are expected to ramp up in 2026, subject to definitive agreements and successful execution. In addition, the capital raised through this financing substantially improves NeoVolta’s financial position, significantly enhancing liquidity and addressing working capital needs to support ongoing growth initiatives.”