SAN DIEGO, Feb. 12, 2026 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) ("NeoVolta" or the "Company"), a U.S.-based energy technology company delivering scalable energy storage solutions, today announced it has successfully raised approximately $23 million in gross proceeds through two financing transactions in December 2025 and January 2026 to support working capital requirements and fund the Company's capital commitments to NeoVolta Power, LLC, a transformational 2 GWh battery energy storage system (BESS) manufacturing joint venture in Georgia. NeoVolta holds a 60% controlling interest in the joint venture, which is advancing rapidly toward mass production expected in mid-2026.

The Company has completed its initial $7 million capital contribution to the joint venture, representing the first of three funding milestones under the joint venture agreements. The financing proceeds substantially de-risk NeoVolta's near-term capital obligations while ensuring adequate working capital to support the Company's core residential and commercial energy storage business as it scales operations.

Recent Financing Transactions

Since announcing the formation of NeoVolta Power, LLC in January 2026, the Company has completed approximately $23 million in strategic equity financing:

$13 Million Private Placement: Anchored by Infinite Grid Capital (IGC), a strategic investor with deep expertise in energy infrastructure, this transaction closed in December 2025 and January 2026. Proceeds funded the Company's initial $7 million joint venture contribution and provided approximately $6 million for working capital, including support for the Company's Neubau Energy acquisition and ongoing operations.

$10 Million Registered Direct Offering: Closed in January 2026 with Needham & Company as exclusive placement agent, generating net proceeds of approximately $9.4 million. Proceeds are being used to support working capital requirements and position the Company to fund the April 30, 2026 milestone payment to the joint venture.

Three-Phase Capital Commitment Structure

NeoVolta's total committed capital contribution to the JV is structured in three distinct phases:

Phase 1 (Completed): $7.0 million initial contribution, funded in January 2026

Phase 2 (April 30, 2026): $8.0 million second milestone contribution

Phase 3 (At Commissioning): $10.0 million via Asset Purchase Agreement with JV partner

Additionally, the joint venture operating agreement provides for up to $15 million in additional contributions through June 30, 2027, if needed to support expanded capacity, accelerated growth initiatives, or working capital requirements.

Strong Financing Position for Phase 2 Milestone

Following completion of its initial $7 million contribution, ...