NeoVolta has secured a $20 million senior credit facility from RoHo Capital Opportunity Fund, with an option to increase the total to $30 million, to support its U.S. battery energy storage systems (BESS) manufacturing platform. The loan, provided by Horizon Technology Finance Corporation and Roth Capital Partners, carries a 10% annual interest rate and matures March 3, 2028, with monthly amortization beginning December 4, 2026.
The financing includes five-year warrants at $3.30, with 1.45 million shares issued at closing, and an additional 727,000 shares if NeoVolta upsizes the facility to $30 million. The funds will support NeoVolta’s 210,600-square-foot manufacturing facility in Pendergrass, Georgia, a joint venture with LONGi. The plant is expected to launch with up to 2 GWh of annual production capacity, scalable to 8 GWh, and will supply BESS systems to meet U.S. domestic content and supply-chain requirements.
The credit facility supports NeoVolta’s agreement with SK On to supply 9 GWh of lithium iron phosphate (LFP) pouch cells between 2027 and 2031.
“Horizon and Roth Capital bring valuable experience and a collaborative approach as we advance NeoVolta’s domestic battery energy storage systems manufacturing platform,” said Ardes Johnson, chief executive officer of NeoVolta.
“As we ramp our Georgia facility and pursue larger commercial and utility-scale opportunities, this relationship supports our ability to execute on our long-term growth strategy,” Johnson added.
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