SAN DIEGO, California — February 12, 2026 — Leads & Copy — NeoVolta Inc. (NASDAQ: NEOV) has secured approximately $23 million in gross proceeds through two financing transactions completed in December 2025 and January 2026. The funds will support working capital needs and the company’s capital commitments to NeoVolta Power, LLC, a joint venture in Georgia focused on battery energy storage system (BESS) manufacturing.
NeoVolta holds a 60% controlling interest in the joint venture, which is targeting mass production in mid-2026. The company has already completed its initial $7 million capital contribution, marking the first of three funding milestones outlined in the joint venture agreements. The financing is expected to reduce NeoVolta’s short-term capital risks and provide working capital for its residential and commercial energy storage business.
The $13 million private placement was led by Infinite Grid Capital (IGC), an energy infrastructure investor. This transaction, finalized between December 2025 and January 2026, funded the initial $7 million joint venture contribution, with the remaining $6 million allocated for working capital, including the Neubau Energy acquisition and ongoing operations.
Additionally, a $10 million registered direct offering closed in January 2026, managed by Needham & Company as the exclusive placement agent, generated net proceeds of around $9.4 million. These funds are designated for working capital requirements and to facilitate the April 30, 2026 milestone payment to the joint venture.
NeoVolta’s capital commitment to the joint venture is divided into three phases. The first phase, an initial $7 million contribution, was completed in January 2026. The second phase involves an $8 million milestone contribution due on April 30, 2026. The third phase entails a $10 million contribution via an Asset Purchase Agreement with the JV partner upon commissioning.
The operating agreement also allows for up to $15 million in additional contributions through June 30, 2027, if needed to support expanded capacity, accelerated growth, or working capital needs.
NeoVolta anticipates having sufficient liquidity to meet its $8 million Phase 2 obligation due April 30, 2026. The company is also exploring financing options for its Phase 3 commitment at commissioning, including equipment financing and project-level structures.
NeoVolta Power continues to progress towards operational milestones at the Georgia facility and plans to provide updates as equipment procurement and commissioning activities advance.
The joint venture aims to expand NeoVolta’s reach beyond its core residential market into the utility-scale and commercial & industrial (C&I) battery energy storage sectors. The facility has an initial annual production capacity of 2 GWh, scalable to 8 GWh, and is strategically located in the Southeast U.S. energy corridor.
NeoVolta CEO Ardes Johnson stated the financing transactions are significant milestones and the company has established a pathway to fund the majority of near-term capital commitments. He added that the company is on track for mass production in mid-2026 and the facility is designed to enable NeoVolta to compete in utility-scale and large commercial markets while maintaining its position in the residential sector.
NeoVolta is focused on scalable technology, domestic manufacturing, and strategic partnerships.
Source: NeoVolta
