NeoVolta Secures $20 Million Credit Facility from Horizon Technology Finance
On September 10, NeoVolta Inc., an energy technology company focused on battery energy storage systems (BESS), announced it has secured a $20 million senior credit facility through the RoHo Capital Opportunity Fund. The joint venture between Horizon Technology Finance Corp. and Roth Capital Partners aims to support NeoVolta's growth as it develops its manufacturing capabilities in Georgia. The funding will help finance the construction of a 210,600-square-foot BESS production plant in Pendergrass, Georgia, with an initial annual capacity of up to 2 GWh. The facility is designed to meet U.S. domestic content and supply-chain requirements and has potential for future expansion to 8 GWh. Paul Seitz, Horizon's CIO, emphasized the strategic focus on supporting innovative companies in high-growth markets through tailored financing solutions.
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Topics: battery_energy_storage manufacturing private_equity_finance