NeoVolta Provides Financing Update on Transformational Battery Manufacturing Joint Venture

SAN DIEGO, Feb. 12, 2026 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) (“NeoVolta” or the “Company”), a U.S.-based energy technology company delivering scalable energy storage solutions, today announced it has successfully raised approximately $23 million in gross proceeds through two financing transactions in December 2025 and January 2026 to support working capital requirements and fund the Company's capital commitments to NeoVolta Power, LLC, a transformational 2 GWh battery energy storage system (BESS) manufacturing joint venture in Georgia. NeoVolta holds a 60% controlling interest in the joint venture, which is advancing rapidly toward mass production expected in mid-2026.

The Company has completed its initial $7 million capital contribution to the joint venture, representing the first of three funding milestones under the joint venture agreements. The financing proceeds substantially de-risk NeoVolta's near-term capital obligations while ensuring adequate working capital to support the Company's core residential and commercial energy storage business as it scales operations.

Recent Financing Transactions

Since announcing the formation of NeoVolta Power, LLC in January 2026, the Company has completed approximately $23 million in strategic equity financing:

• $13 Million Private Placement: Anchored by Infinite Grid Capital (IGC), a strategic investor with deep expertise in energy infrastructure, this transaction closed in December 2025 and January 2026. Proceeds funded the Company's initial $7 million joint venture contribution and provided approximately $6 million for working capital, including support for the Company's Neubau Energy acquisition and ongoing operations.

• $10 Million Registered Direct Offering: Closed in January 2026 with Needham & Company as exclusive placement agent, generating net proceeds of approximately $9.4 million. Proceeds are being used to support working capital requirements and position the Company to fund the April 30, 2026 milestone payment to the joint venture.
  

Three-Phase Capital Commitment Structure

NeoVolta's total committed capital contribution to the JV is structured in three distinct phases:

• Phase 1 (Completed): $7.0 million initial contribution – funded in January 2026

• Phase 2 (April 30, 2026): $8.0 million second milestone contribution

• Phase 3 (At Commissioning): $10.0 million via Asset Purchase Agreement with JV partner
  

Additionally, the joint venture operating agreement provides for up to $15 million in additional contributions through June 30, 2027, if needed to support expanded capacity, accelerated growth initiatives, or working capital requirements.

Strong Financing Position for Phase 2 Milestone

Following completion of its initial $7 million contribution, NeoVolta believes it has sufficient liquidity to meet its $8 million Phase 2 obligation due April 30, 2026, while maintaining flexibility to pursue additional strategic capital initiatives as appropriate. The Company continues to evaluate a range of financing alternatives for its Phase 3 commitment at commissioning, including equipment financing, project-level structures, and other capital sources, with a focus on disciplined capital deployment and long-term shareholder value.

In parallel with its capital planning, NeoVolta Power continues to advance operational milestones at the Georgia facility. The Company expects to provide further updates in the coming weeks as equipment procurement and commissioning activities progress toward targeted mid-2026 production.

Transformational JV With Key Industry Partners Progressing On Schedule

NeoVolta Power, LLC represents a transformational opportunity for NeoVolta to expand beyond its core residential market into the rapidly growing utility-scale and commercial & industrial (C&I) battery energy storage sectors. Key highlights include:

• Capacity: 2 GWh initial annual production capacity, scalable to 8 GWh

• Location: Georgia – strategically positioned in the Southeast U.S. energy corridor

• Ownership: NeoVolta holds 60% controlling interest

• Key Industry Partners: Strategic partnership with PotisEdge (battery manufacturing expertise) and LONGi (global tier-1 solar and energy storage equipment supplier)

• IRA Compliance: Facility is structured to qualify for Section 45X Advanced Manufacturing Production Tax Credits and meets domestic content requirements

• Timeline: Mass production targeted for mid-2026

• Illustrative Revenue Potential: At an illustrative $200 per kilowatt-hour, 2 GWh of annual production represents approximately $400 million of annual revenue potential at full utilization. This illustrative example is not a forecast, projection, or guarantee of future results and is provided solely to convey the scale of the opportunity. Actual results may differ materially based on product mix, customer contracts, pricing, capacity utilization, market conditions, competitive factors, regulatory changes, and numerous other factors. Investors should not rely on this illustrative example in making investment decisions.

• Expanded Market Opportunity: The joint venture is expected to expand NeoVolta's total addressable market to over $45 billion by 2030, including approximately $15 billion in residential storage, $10 billion in C&I storage, and over $20 billion in financing and services markets.
  

For more information on the joint venture announcement, please visit: NeoVolta Launches U.S. Battery Manufacturing Platform | NeoVolta

Management Commentary

“These financing transactions represent significant milestones in bringing our transformational Georgia battery manufacturing joint venture to life,” said Ardes Johnson, Chief Executive Officer of NeoVolta. “We've successfully raised $23 million, completed our first funding obligation on schedule, and believe we have established a pathway to fund the majority of our near-term capital commitments while maintaining working capital for our core business. The response from investors, including strategic partner Infinite Grid Capital and the institutional investors in our most recent offering, is encouraging as we pursue the value proposition of domestic BESS manufacturing with 60% ownership in a facility designed to produce IRA-compliant, American-made battery energy storage systems.”

“As we look ahead, the momentum at NeoVolta Power continues to build, and we're on track for mass production in mid-2026. This facility is designed to enable NeoVolta to compete in utility-scale and large commercial markets while maintaining our position in the residential sector. We're focused on disciplined capital deployment and continue to explore financing alternatives, including project and equipment financing, to complete our Phase 3 commitment at commissioning. We believe this represents a significant opportunity for NeoVolta and our shareholders.”

About NeoVolta

NeoVolta is an innovator in energy storage solutions dedicated to advancing reliable, high-performance power infrastructure for residential, commercial, and utility applications. With a focus on scalable technology, domestic manufacturing, and strategic partnerships, NeoVolta is positioned to support the accelerating transition toward resilient energy systems.

For more information, visit www.neovolta.com.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this release include, without limitation, statements regarding the ability to raise additional capital, manufacturing capacity, production timelines, market opportunity, revenue potential, and future operations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately’ or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Contacts

NEOV Investors
Alliance Advisors IR
ir@neovolta.com

NEOV Media
Email: press@neovolta.com
Phone: 800-364-5464