San Diego-based home battery storage company NeoVolta has entered into agreements for a US$13 million private placement financing anchored by Infinite Grid Capital (IGC).
The US$13 million financing is part of a long-term relationship aimed at supporting NeoVolta’s next phase of scalable growth and expansion of US-based manufacturing.
In addition to the partnership with IGC, a significant portion of the investment will support this project through a memorandum of understanding (MOU) with third parties to establish and operate a battery energy storage system (BESS) manufacturing plant in Georgia.
NeoVolta said that if pursued to completion, the initiative “would emphasise domestic production aligned with federal incentives supporting battery manufacturing and compliance with relevant standards.”
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The facility under consideration is designed for an initial annual capacity of approximately 2GWh, with a focus on utility-scale and commercial & industrial (C&I) BESS, which marks a widening of NeoVolta’s focus; to date the company has concentrated on the distributed residential and C&I market segments.
Operations are anticipated to increase in 2026, contingent upon final agreements and successful implementation.
Moreover, NeoVolta claims the funding secured through this financing significantly strengthens its financial standing, improving liquidity and meeting working capital requirements to support ongoing growth efforts.
The plant’s establishment in Georgia is perhaps also notable. Utility Georgia Power predicts over 8GW of load growth in its service area by 2030, updating the assumptions from 2023 when it submitted the initial draft of its integrated resource plan (IRP). At that time, it predicted around 6GW of load growth by the end of this decade.
In a guest blog for Energy-Storage.news, Allan Oduor from Enertis Applus+ pointed out that current and future load growth is driving Georgia’s increasing number of utility-scale storage projects. He also noted that the state is becoming a key player in the domestic battery supply chain.
NeoVolta and IGC also intend to create a shared framework to assess potential future commercial opportunities, including offtake arrangements that could align NeoVolta’s commercial channels with IGC’s grid-scale pipeline, pending definitive agreements.
In NeoVolta’s Q4 2025 revenue update, the company delivered US$4.8 million, noting that this more than doubled Q3 2025’s fiscal revenue report.
The company also reported a net loss of US$5 million, compared to US$2.3 million in 2024.
In November of 2024, NeoVolta progressed on a loan from the US Department of Energy (DOE).
The company finished phase one of its US$250 million loan application from the DOE Loan Programs Office’s (LPO) Clean Energy Financing Program and was approved to move on to phase two technical due diligence.
At that time, the company also made note of its intent to establish a US BESS manufacturing facility.
IGC, in August, said it intends to exit a 430MWh BESS project in Texas, which is receiving engineering, procurement, and construction (EPC) services from SolarMax Technology.
