NeoVolta secures up to $30m via credit to expand U.S. BESS manufacturing

NeoVolta, a U.S. energy technology company, has secured a $20 million credit facility from RoHo Capital Opportunity Fund, a joint venture between Horizon Technology Finance and Roth Capital Partners, with the option to expand it to $30 million. The money will help fund NeoVolta's manufacturing of battery energy storage systems (BESS) — the large batteries that store solar power or grid electricity for later use, often paired with home solar or backup power setups.

The financing supports NeoVolta's growing manufacturing footprint, including a new 210,600-square-foot plant in Pendergrass, Georgia, built with joint venture partner LONGi. That facility is expected to start with up to 2 GWh of annual production capacity and could scale up to 8 GWh over time. It's meant to help NeoVolta's products meet U.S. domestic content rules, which can matter for eligibility in certain incentive programs tied to American-made equipment. The company also recently signed a deal with South Korean battery maker SK On to supply 9 GWh of lithium iron phosphate (LFP) battery cells, a common and stable battery chemistry, between 2027 and 2031.

For homeowners, this isn't a rebate or program update, but it points to more domestic battery storage manufacturing coming online in the next few years. That could eventually mean more U.S.-made battery options for home solar and backup storage systems, which sometimes carry advantages under incentive programs that favor domestically produced equipment. No new consumer rebates or deadlines were announced as part of this financing.