NeoVolta Secures Up to $30 Million Credit Facility to Expand Georgia Battery Storage Plant
NeoVolta secured a $20-30 million credit facility from Horizon and Roth Capital to scale its Georgia battery energy storage manufacturing plant.
Photo by Peter Xie on Pexels
NeoVolta, Inc. (Nasdaq: NEOV) secured a $20 million senior credit facility, with an option to increase it to $30 million by mutual agreement, from RoHo Capital Opportunity Fund, a joint venture of Horizon Technology Finance Corporation (Nasdaq: HRZN) and Roth Capital Partners, according to a Horizon Technology Finance announcement published September 10, 2026. The financing supports NeoVolta’s battery energy storage system manufacturing plant in Pendergrass, Georgia, which is designed to launch with up to 2 gigawatt-hours of annual production capacity, scalable to 8 gigawatt-hours.
The initial $20 million was funded at closing. The loan carries a 10% annual interest rate, matures March 3, 2028, and begins monthly amortization payments on December 4, 2026. The deal also includes five-year warrants priced at $3.30 per share, with 1.45 million warrant shares issued at closing and an additional 727,000 shares issuable if the facility is upsized to $30 million.
What the Georgia plant makes
The 210,600-square-foot facility sits along the I-85 corridor in Pendergrass, Georgia, and is operated through a joint venture called NeoVolta Power, in which NeoVolta holds a 60% stake alongside system integrator PotisEdge and solar manufacturer LONGi. The plant assembles prismatic-cell battery packs and DC storage containers rather than manufacturing battery cells itself, targeting utility-scale battery energy storage system deployments with a growing share of commercial and industrial projects over time. NeoVolta Chief Executive Ardes Johnson said Horizon and Roth Capital “bring valuable experience” as the company ramps up the Georgia facility, while Horizon Chief Investment Officer Paul Seitz described the financing as consistent with the fund’s focus on providing growth capital to innovative companies.
| Figure | Value |
|---|---|
| Initial credit facility | $20 million |
| Facility ceiling (if upsized) | $30 million |
| Interest rate | 10% annually |
| Maturity date | March 3, 2028 |
| Initial annual production capacity | Up to 2 GWh |
| Scalable production capacity | Up to 8 GWh |
| Facility size | 210,600 sq ft (Pendergrass, Georgia) |
A separate, larger financing track still pending
NeoVolta has also been pursuing a separate, larger financing effort: a US Department of Energy Loan Programs Office application worth up to $250 million, aimed at vertically integrating cylindrical and prismatic battery cell manufacturing and a future move into inverter production, according to earlier reporting. That DOE application, which passed an initial review phase and moved to technical due diligence as of late 2024, is distinct from the Pendergrass pack-assembly plant and from the RoHo credit facility; neither NeoVolta nor Horizon’s September 2026 announcement referenced the DOE loan’s status. The Georgia facility’s early buildout was previously funded in part by roughly $23 million raised between December 2025 and January 2026, ahead of this latest RoHo facility.
NeoVolta’s manufacturing expansion follows a broader pattern of federal and private capital flowing into US battery storage production this year. The Department of Energy separately selected seven critical mineral and battery projects for $500 million, while long-duration storage developer Form Energy raised $750 million in a Series G round at a lower valuation than its prior funding. Demand for that capacity is also climbing: US energy storage installations hit a record 20.2 GWh in the second quarter of 2026.
About NeoVolta
NeoVolta, Inc. is a San Diego-area energy technology company, headquartered in Poway, California, that designs and manufactures battery energy storage systems for residential, commercial and industrial, and utility-scale customers. The company began expanding into utility-scale manufacturing with the Pendergrass, Georgia facility, formed as the NeoVolta Power joint venture with PotisEdge and LONGi, with early construction financing arranged in late 2025. NeoVolta has separately pursued a US Department of Energy loan of up to $250 million to expand into cell and inverter manufacturing, a process still in technical review as of the most recent public update. The company’s September 2026 credit facility with RoHo Capital Opportunity Fund extends its financing to support the Georgia plant’s ramp toward full production capacity.
Sources: Horizon Technology Finance Corp. (BusinessWire release); pv magazine USA; Energy Storage News
Featured image: photo by Peter Xie on Pexels (free Pexels license).
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I specialize in sustainability education, curriculum co-creation, and early-stage project strategy. At WINSS, I craft articles on sustainability, transformative AI, and related topics. When I’m not writing, you’ll find me chasing the perfect sushi roll, exploring cities around the globe, or unwinding with my dog Puffy — the world’s most loyal sidekick.
