NEOV News & Events

Infinite Grid Capital, an energy infrastructure investment platform that develops and finances large-scale power projects across North America, announced that it has entered into a Letter of Intent with NeoVolta for the strategic procurement of utility-scale battery energy storage products to be manufactured at NeoVolta's Pendergrass, Georgia manufacturing facility. This is the first commercial LOI associated with the Pendergrass manufacturing facility, which remains on track to begin production in Q3 of calendar 2026. The LOI identifies three initial utility-scale project opportunities totaling approximately 1.1 GWh across the United States: an approximately 400 MWh project in West Texas, an approximately 400 MWh project in Puerto Rico, and approximately 300 MWh across multiple projects in PJM territory. IGC would procure such products directly or through its designated affiliates, project entities, and managed investment vehicles. This LOI fulfills the commercial framework contemplated at the time of IGC's December 2025 strategic investment in NeoVolta, when the parties announced plans to evaluate potential future commercial opportunities, including offtake arrangements that may align NeoVolta's commercial channels with IGC's grid-scale pipeline.

NeoVolta announced that NeoVolta has entered into a letter of intent with Infinite Grid Capital for the strategic procurement of utility-scale battery energy storage products manufactured at its Pendergrass, Georgia manufacturing facility. This is the first commercial LOI associated with the Pendergrass manufacturing facility, which remains on track to begin ramp-up in Q3 of calendar year 2026. The LOI identifies three initial utility-scale project opportunities totaling approximately 1.1 GWh across the United States: an approximately 400 MWh project in West Texas, an approximately 400 MWh project in Puerto Rico, and approximately 300 MWh across multiple projects in PJM territory. This LOI arises from the commercial framework contemplated at the time of IGC's December 2025 strategic investment in NeoVolta, when the parties announced plans to evaluate potential future commercial opportunities, including offtake arrangements that may align NeoVolta's commercial channels with IGC's grid-scale pipeline. The LOI is non-binding with respect to product purchase and supply obligations.

NeoVolta announced that it is commencing an underwritten public offering of shares of its common stock, or in lieu of shares of common stock, pre-funded warrants to purchase shares of common stock. Lake Street Capital Markets is acting as the sole book-running manager for the proposed offering.

Reports Q3 revenue $2M vs. $2M last year. "The third quarter was about execution, converting our strategic vision into tangible proof points. We received our first C&I purchase order from Luminia, our Georgia manufacturing facility is progressing on track with equipment starting to arrive on site and installation targeted for June, and we continued to advance all three verticals of our integrated platform. Subsequent to quarter end, we were named 2026 Energy Storage Company of the Year, increased our ownership in NeoVolta Power to 80% and expanded our commercial capabilities with PotisEdge. The momentum we are carrying into the back half of fiscal 2026 gives us strong confidence in the path ahead." - Ardes Johnson, CEO, NeoVolta.