NeoVolta Inc.

NeoVolta Inc.

Overview

NeoVolta is a U.S.-based energy technology company that provides scalable energy storage solutions. The company is transitioning from a primary focus on storage manufacturing to offering integrated energy solutions across residential, commercial & industrial (C&I), and utility-scale markets.

Markets and growth focus

• Residential: High-performance energy storage systems (ESS) for homes and small commercial installations.
• Commercial & Industrial: Storage for demand-charge management, backup power, and grid services.
• Utility-Scale: Domestic manufacturing joint venture to supply utility-scale batteries and integrated solutions (Georgia).

Product portfolio

• NV14: 14.4 kWh battery with a 7.6 kW hybrid inverter (120/240V residential, 208V three-phase commercial).
• NV24: Expansion battery increasing capacity from 14.4 kWh to 24 kWh (no extra inverter required).
• NVPlus: Higher-capacity ESS for larger residential and small commercial applications (launched 2024).
• NV7600: Stand-alone 7.6 kW inverter (launched 2024) for use with NeoVolta storage or for retrofit.
• NV 16 kW AC hybrid inverter: 24 kW PV input.
• NVWAVE: Modular, plug-and-play battery platform scalable up to 55.2 kWh with integrated software and a whole-home load management controller; developed after acquisition of Neubau Energy IP in October 2025. Modules are built for residential and light commercial use.
• 250 kW / 430 kWh C&I BESS: Introduced in 2025.
• Software and controls: Integrated system controller, inverter, battery management, and modules in a single system for real-time optimization of solar, battery, and grid resources.

Manufacturing and operations

• Poway, California: Primary manufacturing site for NV14 and NV24, operating on a made-to-order model with finished-goods inventory management.
• Contract manufacturing: NVPlus, NV7600, and NVWAVE components are produced by qualified contract partners to NeoVolta specifications.
• NVWAVE manufacturing: Modules produced by an Austrian contract manufacturer with final assembly in Poway.
• Quality controls: Traceability from receipt to final build, including serial numbers, torque settings, and test results; new product launches follow defined quality checkpoints.
• Domestic content and FEOC readiness are emphasized for eligibility for federal incentives.

Utility-scale manufacturing joint venture (NVP)

• Formation: NeoVolta Power, LLC (NVP) formed in January 2026 as a U.S. joint venture to own and operate a utility-scale battery manufacturing plant in Georgia.
• Ownership: NeoVolta holds 80%; a U.S. affiliate of a foreign entity holds 20% subject to service-based vesting and forfeiture provisions.
• Facility: 210,600 sq ft leased manufacturing facility in Pendergrass, Georgia (near Atlanta).
• Capacity and timeline: Initial annual design capacity of 2 GWh, scalable to 8 GWh. Initial phase targeted to complete by the end of NeoVolta’s fiscal 2027 first quarter with limited production.
• Tax incentives and compliance: Intended eligibility for the Advanced Manufacturing Tax Credit (45X) and Clean Electricity Investment Tax Credit (48E). Compliance considerations include material assistance rules under OBBBA and the IRS Notice 2026-15 safe-harbor approach.
• Funding: Estimated total funding need of approximately $40 million through June 30, 2027. NeoVolta has contributed $15 million and completed a public equity offering with net proceeds of $26.3 million. Additional debt or equity financing is contemplated to cover remaining contributions.

Addressable market

• Residential: Approximately 4.2 million U.S. homes with solar; more than 3 million without battery storage; projected residential addressable market around $15 billion by 2030.
• C&I: Fragmented market with over 11,000 installers and distributors; projected addressable market around $10 billion by 2030.
• Utility-Scale: U.S. installations exceeded 15 GW in 2024 and are expected to grow; total addressable utility-scale market around $20 billion by 2030.
• Combined addressable market (Residential + C&I + Utility-Scale): Approximately $45 billion by 2030.

Customers and sales channels

• Sales channels: Certified solar installers and regional/national distributors.
• Revenue concentration: In 2026, the top three dealers accounted for about 39%, 15%, and 11% of total revenues. In 2025, the top two dealers accounted for about 41% and 23% of total revenues.
• Accounts receivable concentration: In 2026, the top three dealers represented about 45%, 31%, and 14% of net accounts receivable (excluding expected credit losses).

People and leadership

• Employees: 41 full-time employees as of June 30, 2026.
• Management: Leadership includes the CEO, CFO, and EVP, with board oversight.

Financial snapshot

• Net income (loss): Net loss of $21.5 million for fiscal year ended June 30, 2026; net loss of $5.0 million for fiscal year ended June 30, 2025.
• Accumulated deficit: $47.2 million as of June 30, 2026.
• Capital actions and liquidity: Net proceeds from a recent underwritten public equity offering totaled $26.3 million. Cash contributions to NVP and expansion plans are ongoing; NeoVolta has contributed $15 million toward an estimated $40 million need through June 30, 2027. Additional financings are being considered.

Real estate and facilities

• Poway, CA: Facility sublease established in February 2025 for 13 months, later extended to March 31, 2031, with gradual rent increases.
• Georgia facility lease: Monthly payments of $120,218 (June 2026), lease expiring May 31, 2033, with an option for a three-year renewal.

Intellectual property and certifications

• IP portfolio: 16 U.S. patents (3 granted, 3 provisional in force, 2 filed/pending, 8 recently filed); perpetual license related to low-voltage battery architecture; IP assets acquired from Neubau Energy in October 2025.
• Protections: Patents, trademarks, copyrights, trade secrets, and NDAs.
• Certifications and standards: UL 9540/9540A, UL 1741SA/SB, IEEE 1547, UL 1973, FCC Class B, NFPA 70, California Rule 21, Hawaii Rule 14H, NEMA 3R for outdoor use, and CSIP compliance with CPUC interconnection rules.

Regulatory environment

Federal and state incentives and evolving interconnection requirements are material to product design and project economics. NeoVolta intends to pursue federal credits (45X and 48E) through compliant domestic content and project structures and is accounting for guidance related to material assistance and MACR calculations under OBBBA and IRS Notice 2026-15.

Strategic moves

• Acquired Neubau Energy IP (October 2025) to enable NVWAVE and software-driven integrated energy management.
• Established an 80/20 joint venture to develop utility-scale manufacturing in Georgia (NVP).
• Launched and expanded the NVWAVE modular battery platform to broaden residential and light-commercial reach.
• Exploring partnerships to accelerate development of next-generation storage solutions.

Public market status

• Listed on Nasdaq since August 2022.
• Ongoing considerations related to listing compliance and potential dilution from future issuances.