Overhead view of a battery energy storage system manufacturing facility
NeoVolta Inc (NASDAQ:NEOV) is making a bold move in the energy storage market, securing a Letter of Intent (LoI) with Infinite Grid Capital (IGC) for approximately $200 million. The deal aims to supply 1.1 GWh of utility-scale battery energy storage systems (BESS) across the United States, spotlighting the growing demand for energy storage solutions.
The LoI outlines three key projects: two 400 MWh projects in West Texas and Puerto Rico, and a 300 MWh project across multiple sites in the PJM territory. Manufacturing will take place at NeoVolta’s Pendergrass, Georgia facility, expected to ramp up production in Q3 2026. This marks a significant milestone as the first commercial agreement tied to the Georgia plant.
Infinite Grid Capital previously led a $13 million private placement in NeoVolta in 2025, setting the stage for this substantial off-take arrangement. While the LoI is non-binding, it signals a strong intent, with formal agreements pending.
This agreement underscores the increasing importance of battery storage in grid infrastructure. As renewable energy sources become more prevalent, reliable storage solutions are crucial to manage intermittency and ensure grid stability. For NeoVolta, this deal represents a major step forward, positioning them as a key player in the expanding US energy storage landscape.
About the Author
