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 ("MOU") 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 (C&I) 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.
NeoVolta and IGC also plan to establish a shared framework to evaluate potential future commercial opportunities, including offtake arrangements that may align NeoVolta's commercial channels with IGC's grid-scale pipeline, subject to definitive agreements.
"We are thrilled to welcome Infinite Grid Capital as a long-term strategic investor with their $10 million investment," said ...
