San Diego, CA – November 24, 2025 – NeoVolta Inc. (NASDAQ:NEOV) (“NeoVolta” or the “Company”), a U.S.-based energy technology company delivering scalable storage for resilient residential and commercial power infrastructure, today announced that it has entered into agreements for a $13 million private placement financing anchored by Infinite Grid Capital (“IGC”), in connection with a long-term relationship to support NeoVolta’s next phase of scalable growth and U.S.-based manufacturing expansion.
The investment is structured to provide both immediate and future capital support for NeoVolta’s planned domestic manufacturing initiative. In addition to the relationship with IGC, a substantial portion of the investment proceeds is intended to advance this initiative pursuant to a memorandum of understanding (“MOU”) with third parties to establish and operate a state-of-the-art battery energy storage manufacturing facility in Georgia. This initiative, if pursued to completion, would emphasize domestic production aligned with federal incentives supporting battery manufacturing and compliance with relevant standards.
The facility under consideration is designed for an initial annual capacity of approximately 2 GWh, with a focus on utility-level and commercial & industrial (C&I) battery energy storage systems (BESS) that are expected to significantly expand NeoVolta’s addressable market and revenue opportunity. Operations are expected to ramp up in 2026, subject to definitive agreements and successful execution. In addition, the capital raised through this financing substantially improves NeoVolta’s financial position, significantly enhancing liquidity and addressing working capital needs to support ongoing growth initiatives.
NeoVolta and IGC also plan to establish a shared framework to evaluate potential future commercial opportunities, including offtake arrangements that may align NeoVolta’s commercial channels with IGC’s grid-scale pipeline, subject to definitive agreements.
“We are thrilled to welcome Infinite Grid Capital as a long-term strategic investor with their $10 million investment,” said Ardes Johnson, Chief Executive Officer of NeoVolta. “IGC is well-capitalized and highly aligned with our vision as we advance our domestic manufacturing plans and scale our commercial and grid-aligned channels. The investment delivers the capital and support we need while preserving the flexibility essential to our next phase of growth. We are now well-positioned to pursue a manufacturing platform capable of capturing strong downstream demand in the rapidly expanding U.S. battery energy storage market.”
“IGC is proud to back NeoVolta’s U.S. manufacturing initiative,” said Frank Liu, General Partner and CEO of Infinite Grid Capital. “This partnership reflects our commitment to advancing domestic energy storage capabilities and enabling the next phase of scalable growth.”
As the relationship develops, NeoVolta and IGC will provide updates on key milestones and the continued evolution of NeoVolta’s manufacturing and market initiatives, including details on production schedules, operational dynamics, and potential strategic collaborations. The MOU is non-binding and subject to negotiation of definitive agreements. While there is no assurance that the parties will reach agreement on final terms or that the proposed manufacturing initiative will be consummated, NeoVolta and IGC remain committed to advancing strategic manufacturing opportunities.
About Infinite Grid Capital
Infinite Grid Capital (IGC) is an energy infrastructure investment platform that develops and finances large-scale power projects, including battery-energy storage systems, hybrid energy hubs, and dedicated power solutions for data centers. IGC focuses on building reliable and flexible energy assets that ensure continuous power for AI workloads, industrial operations, and other mission-critical facilities.
For more information visit: www.infinitegridcapital.com