NeoVolta has entered into definitive agreements for a $13 million private placement financing led by Infinite Grid Capital to support the company’s next stage of expansion in domestic battery energy storage system (BESS) manufacturing. A portion of the financing is allocated toward establishing and operating a new BESS manufacturing facility in Georgia.
The proposed manufacturing facility is planned with an initial annual output of nearly 2 GWh. It will focus on utility-level and commercial and industrial BESS. Operations of the facility are scheduled for 2026, subject to the definitive agreements and the successful execution of the project. Additionally, the capital raised through this transaction will strengthen liquidity and support the company’s ongoing working capital needs.
The financing is structured to provide immediate and future capital, forming part of a long-term collaboration intended to strengthen NeoVolta’s domestic manufacturing plans. Furthermore, it is aligned with federal manufacturing incentives and applicable compliance requirements. Moreover, NeoVolta and Infinite Grid Capital intend to develop a joint framework to assess potential future commercial prospects.