NeoVolta Enters into Definitive Agreements Led by Infinite Grid Capital to Advance 2 GWh U.S. Battery Energy Storage System Manufacturing Initiative

Core Insights - NeoVolta Inc. has announced a $13 million private placement financing led by Infinite Grid Capital to support its growth and manufacturing expansion in the U.S. [1][2] Financing and Manufacturing Initiative - The investment aims to provide immediate and future capital for NeoVolta's domestic manufacturing initiative, including a memorandum of understanding with third parties to establish a battery energy storage manufacturing facility in Georgia [2][3] - The proposed facility is designed for an initial annual capacity of approximately 2 GWh, focusing on utility-level and commercial & industrial battery energy storage systems, which will expand NeoVolta's market and revenue opportunities [3] Financial Position and Growth - The capital raised will significantly enhance NeoVolta's financial position, improving liquidity and addressing working capital needs to support ongoing growth initiatives [3] - NeoVolta and IGC plan to evaluate future commercial opportunities, including potential offtake arrangements that align with IGC's grid-scale pipeline [4] Strategic Partnership - The partnership with Infinite Grid Capital is seen as a long-term strategic investment, with IGC committing $10 million to support NeoVolta's manufacturing plans and commercial scaling [5] - Both companies will provide updates on key milestones and the evolution of NeoVolta's manufacturing and market initiatives as the relationship develops [5]