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NeoVolta Secures $23 Million for Georgia battery manufacturing JV
In a significant move to bolster the U.S. energy storage supply chain, NeoVolta Inc. (NASDAQ: NEOV) has announced the successful completion of a substantial capital raise, securing approximately $23 million in gross proceeds. This funding is earmarked to fuel the company’s transformational joint venture, NeoVolta Power, LLC, which is establishing a large-scale battery manufacturing facility in Georgia.
This development marks a pivotal moment for NeoVolta, signaling its strategic expansion from residential energy storage into the broader utility-scale and commercial & industrial markets.
A Financial Milestone for Domestic Production in Georgia battery manufacturing
The $23 million was raised through two financing transactions conducted in December 2025 and January 2026. The capital will be used for general working capital and, crucially, to meet NeoVolta’s capital commitments for the new Georgia plant.
The company has already fulfilled its initial $7 million funding obligation to the joint venture on schedule, demonstrating its commitment and rapid progress. In a recent announcement, NeoVolta CEO Ardes Johnson described the financing as a “significant milestone,” enabling the company’s ambitious expansion plans.
Inside the Georgia battery manufacturing Joint Venture
The new manufacturing facility is a strategic collaboration that positions NeoVolta for significant growth. NeoVolta holds a 60% controlling interest in the joint venture, NeoVolta Power, LLC. The project brings together key industry players, including battery manufacturing expert PotisEdge and global tier-1 solar and energy storage supplier LONGi.
Key details of the Georgia facility include:
- Initial Capacity: The plant will begin with a 2 GWh capacity for battery energy storage systems (BESS).
- Scalability: The facility is designed for future growth, with the potential to scale up to an 8 GWh annual capacity.
- Strategic Location: Sited in Georgia, the plant is strategically located within the Southeast U.S. energy corridor, a burgeoning hub for clean energy technology.
Tapping into the Inflation Reduction Act and Future Growth of Georgia battery manufacturing
The joint venture is structured to capitalize on the benefits of the U.S. Inflation Reduction Act (IRA). This includes eligibility for the Section 45X Advanced Manufacturing Production Tax Credits and meeting domestic content requirements, providing a significant competitive advantage.
With equipment procurement and commissioning already advancing, the project is on a fast track. NeoVolta anticipates that the Georgia facility will begin mass production by mid-2026. This move not only strengthens NeoVolta’s market position but also contributes to the national goal of onshoring critical battery manufacturing capabilities.
For more detailed information, please refer to the official announcements on the NeoVolta press releases page.
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