Energy Storage News•2 months ago
NeoVolta raises US$23 million for Georgia battery pack and BESS manufacturing facility
- •NeoVolta has secured US$23 million in financing for a 2GWh Battery Energy Storage System (BESS) manufacturing joint venture in Georgia, US.
- •This new domestic manufacturing capacity (2GWh) signals increased future supply of BESS, potentially easing procurement and reducing lead times for developers and large power consumers.
- •The US-based facility could leverage Inflation Reduction Act (IRA) incentives, potentially leading to more cost-effective and domestically compliant BESS solutions for projects.
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