NeoVolta secures up to $30M senior credit facility for U.S. BESS manufacturing expansion

Type: Financing · Technology: Storage · Country: United States · Value: $20M · Announced: 2026-09-11

Horizon Technology Finance Corporation and Roth Capital Partners' joint venture, RoHo Capital Opportunity Fund, extended a $20 million senior credit facility to NeoVolta, with an option to increase to $30 million, to support the U.S. battery energy storage systems (BESS) manufacturer's expansion. The initial $20 million was funded at closing and the facility matures March 3, 2028, with monthly amortization payments beginning December 4, 2026. The financing includes five-year warrants at $3.30 per share, with 1.45 million shares issued at closing and an additional 727,000 shares contingent on upsizing the facility. NeoVolta, alongside its joint venture partner LONGi, is constructing a 210,600-square-foot manufacturing facility in Pendergrass, Georgia, expected to launch with up to 2 GWh of annual production capacity, scalable to 8 GWh. South Korean battery manufacturer SK On signed a dual-sided agreement with NeoVolta to supply 9 GWh of lithium iron phosphate (LFP) pouch cells between 2027 and 2031, with this facility supporting that deal. The transaction underscores growing U.S. domestic content requirements for energy storage infrastructure.

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