Horizon Technology Finance and Roth Capital Partners are providing NeoVolta with $20 million in senior growth financing as the energy-storage company scales a domestic battery manufacturing platform in Georgia. The facility, which can expand to $30 million, links private credit, public-market capital and U.S. battery infrastructure at a time when demand for grid-scale storage is accelerating.
Horizon Technology Finance Corporation and Roth Capital Partners are putting fresh growth capital behind NeoVolta as the energy-storage company moves to expand U.S. battery manufacturing.
Through RoHo Capital Opportunity Fund, a joint venture between Horizon and CR Financial Holdings, the holding company for Roth Capital Partners, the financing group has provided NeoVolta with an initial $20 million senior credit facility. The commitment can increase to $30 million if both sides agree and applicable conditions are met. NeoVolta disclosed the underlying loan agreement in a September 4 filing with the U.S. Securities and Exchange Commission.
The financing comes as NeoVolta develops a 210,600-square-foot battery energy storage system manufacturing facility in Pendergrass, Georgia, through its joint venture with PotisEdge and LONGi.
The facility is designed for 2 GWh of annual production initially, with the potential to scale to 8 GWh. NeoVolta has said the operation will focus on utility-scale and commercial-and-industrial battery storage systems, creating a domestic manufacturing platform rather than relying solely on imported finished systems.
For the financial technology and investment ecosystem, the transaction illustrates the expanding role of specialized private credit in financing technology-intensive infrastructure.
Unlike conventional corporate lending, venture and growth lending can provide capital to companies that are still investing heavily in capacity, technology and market expansion. Horizon’s model is particularly relevant to smaller public companies seeking funding without depending exclusively on equity-market issuance.
RoHo adds another layer to that model by combining Horizon’s venture-lending capabilities with Roth’s public-markets relationships. Horizon said the joint venture is designed to provide flexible growth capital to small- and micro-cap public companies.
That structure matters for NeoVolta because its capital requirements are changing as it moves from an energy-storage technology company toward a manufacturing-led platform.
Building a domestic battery factory requires substantial spending before the facility reaches full utilization. Equipment, working capital, inventory, commissioning and customer acquisition can all create financing requirements ahead of corresponding revenue growth.
The new credit facility gives NeoVolta additional liquidity while it ramps production and pursues larger commercial and utility-scale opportunities.
The timing is also significant for the U.S. battery-storage market.
The American Clean Power Association and Wood Mackenzie reported that the United States installed a record 18.9 GW of battery energy storage systems in 2025, 52% more than in 2024. Their latest outlook projects approximately 500 GWh of additional storage installations from 2026 through 2031.
Momentum continued into 2026. The U.S. installed 3.3 GW/8.4 GWh of storage during the first quarter, a 54% increase over the previous Q1 record, according to Wood Mackenzie and ACP. Utility-scale projects accounted for more than 2.3 GW/6.8 GWh.
The U.S. Energy Information Administration provides another measure of the infrastructure buildout: utility-scale battery capacity reached nearly 52 GW by the end of June 2026, after operators added 8.3 GW during the first half of the year.
This demand is being driven by several overlapping forces. Renewable generation requires flexible resources that can shift electricity across periods of supply and demand. Utilities need additional capacity and grid-balancing tools, while large electricity consumers—including data centers supporting artificial intelligence—are increasing pressure on power systems.
That creates a growing market for BESS infrastructure, but it also raises the importance of supply-chain location.
NeoVolta’s Georgia strategy is designed around that issue. The company says the manufacturing platform is intended to meet U.S. domestic-content and supply-chain requirements. Its manufacturing site is located along the I-85 corridor and is planned to support utility-scale and commercial-and-industrial applications.
Domestic production can potentially help developers navigate increasingly complicated sourcing rules and incentives, although manufacturing in the United States does not automatically eliminate supply-chain or cost pressures.
Wood Mackenzie has specifically identified FEOC restrictions and access to compliant battery components as potential bottlenecks for the U.S. storage industry over the next several years. The research firm expects domestic manufacturing capacity to become increasingly important as developers seek compliant equipment and supply.
There is also a competitive challenge.
Global battery manufacturers have enormous production scale, and energy-storage cell shipments have expanded rapidly. Recent industry reporting points to substantial global supply growth and pricing pressure, particularly from Chinese manufacturers. That creates a difficult environment for smaller U.S. manufacturers: they must compete on cost while simultaneously meeting domestic sourcing, regulatory and customer requirements.
NeoVolta’s strategy is therefore not simply about adding factory capacity. It is an attempt to position a smaller public energy-technology company within a market where financing, manufacturing location, supply-chain compliance and project economics are increasingly interconnected.
The $20 million facility provides near-term financial flexibility, but execution will determine whether that capital translates into production capacity and commercial scale.
For investors, the transaction also demonstrates the importance of specialized financing structures in emerging infrastructure markets. Energy storage sits between technology and physical infrastructure, requiring capital for product development and manufacturing while ultimately serving utilities, developers and large commercial customers.
That hybrid profile creates opportunities for lenders that understand both technology risk and asset-intensive growth.
For GlobalFinTechEdge, the deal is less about conventional banking and more about the evolution of specialized financial infrastructure for energy technology. Growth lenders, investment banks and alternative capital providers are increasingly participating in financing the physical systems required for electrification, renewable integration and AI-driven power demand.
If NeoVolta successfully ramps its Georgia operation, the financing could become an example of how private credit supports the transition from an emerging energy-technology business to a domestic infrastructure supplier.
Market Landscape
The U.S. battery-storage market is entering a period of rapid infrastructure expansion. Wood Mackenzie and ACP expect the country to install roughly 500 GWh of storage between 2026 and 2031, while EIA data shows operational utility-scale battery capacity approaching 52 GW by mid-2026.
At the same time, domestic-content rules, FEOC restrictions and supply-chain requirements are changing how developers evaluate battery suppliers. This creates opportunities for U.S.-based manufacturers but also increases capital requirements and competitive pressure.
The financing of companies such as NeoVolta therefore sits at the intersection of private credit, public-market finance, energy infrastructure and technology investment.
Top Insights
- Horizon and Roth are using a specialized financing vehicle to provide NeoVolta with $20 million for its expanding battery-storage manufacturing platform.
- NeoVolta’s Georgia facility targets 2 GWh of initial annual capacity, with a pathway to scale production to 8 GWh.
- U.S. battery storage installations reached a record 18.9 GW in 2025, highlighting the infrastructure opportunity behind the financing.
- Domestic manufacturing is becoming strategically important as FEOC restrictions and supply-chain requirements reshape U.S. battery procurement.
- The transaction illustrates how private credit can finance technology companies transitioning into capital-intensive infrastructure businesses.
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