$NEOV

NeoVolta Enters $53 Million Capacity Reservation Agreement With Infinite Grid

NeoVolta (NEOV) said Thursday its majority-owned subsidiary NeoVolta Power entered a binding capacity reservation agreement with Infinite Grid Capital for about $53 million of battery energy storage system equipment for Northern Ontario AI data center projects in 2027.The agreement is the first commercial commitment under a previously announced framework with Infinite Grid covering about 1.1 GWh of potential deployments and about $200 million of potential supply.NeoVolta said its Pendergrass, Georgia, manufacturing facility is progressing through commissioning and site acceptance testing, with the production ramp-up on track for Q4. The facility is designed to assemble commercial, industrial and utility-scale energy storage products.Price: $3.58, Change: $+0.27, Percent Change: +8.16%

Top Midday Gainers

Roth Capital Partners started coverage on Ticketplus (TP) with a buy rating and a $14 price target.Shares soared 24% to $9.76 after midday Monday as intraday trading volume jumped to more than 105,000 shares from a daily average of about 54,000.NeoVolta (NEOV) said Monday its NeoVolta Power subsidiary has entered into a five-year supply and manufacturing collaboration with SK On.Shares surged 29% as intraday trading volume soared to over 8.3 million shares from a daily average of roughly 2.6 million.Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites.Shares rose 5%, with intraday trading volume of over 40.1 million against a daily average of about 41.3 million.Price: $9.76, Change: $+1.93, Percent Change: +24.65%

South Korea-Based SK On Reportedly Secures Over $1 Billion Energy Storage Supply Deal in US

South Korean battery maker SK On has agreed to supply US firm NeoVolta Power, a subsidiary of Neovolta (NEOV) with 9 gigawatt-hours of LFP battery cells for energy storage systems over five years starting in 2027, several media outlets reported on Monday.Industry estimates place the value of this initial contract around 1.5 trillion won ($1.09 billion), according to the reports.The cells will be manufactured at SK On's facility in Georgia, helping meet the surging American demand for grid-level storage used by facilities like data centers, the reports noted.The two companies are already discussing an additional 9 gigawatt-hours agreement for later this year, which would bring their total collaboration to 18 gigawatt-hours, it added.

Northland Securities Initiates Coverage on NeoVolta With Outperform Rating, $15 Price Target

Northland Securities Initiates Coverage on NeoVolta With Outperform Rating, $15 Price Target

Lake Street Initiates NeoVolta at Buy With $11 Price Target

Needham Initiates NeoVolta at Buy With $8 Price Target

NeoVolta to Supply Large-Scale Battery Energy Storage Systems to Infinite Grid Capital; Shares Fall

NeoVolta (NEOV) has entered into a letter of intent to supply around 1.1 gigawatt-hours of battery energy storage products to Infinite Grid Capital, or IGC, the energy infrastructure investment platform said Thursday.Financial details weren't provided.IGC will procure utility-scale battery storage systems from NeoVolta's Georgia facility, which is expected to begin production in Q3, to power its artificial intelligence infrastructure buildout across the US, IGC said.The preliminary deal also includes coordinated marketing, financing, strategic investment, and project development activities between the companies. The letter of intent will remain in effect for 12 months from execution, IGC added.Shares of NeoVolta fell around 24% in afternoon trading.Price: $1.97, Change: $-0.61, Percent Change: -23.64%

NeoVolta Prices Public Offering of Shares

NeoVolta (NEOV) said Thursday it has priced a public offering of nearly 12.2 million shares at $2.05 apiece for gross proceeds of about $25 million.The company also said it has granted its underwriter a 30-day option to buy up to an about 1.83 million additional shares.The offering is expected to close on May 29, with Lake Street Capital Markets as the book-running manager, it said.Shares were down over 21% in morning trading.Price: $2.02, Change: $-0.56, Percent Change: -21.71%

NeoVolta Lifts Stake in US Battery Joint Venture to 80%

NeoVolta (NEOV) increased its ownership in NeoVolta Power, its US battery energy storage system manufacturing joint venture in Pendergrass, Georgia, to 80% from 60%.The remaining 20% will continue to be held by CCC, a US subsidiary of PotisEdge, NeoVolta said Tuesday in a statement.The transaction requires no new cash outlay. NeoVolta said.NeoVolta retains full board and operational control of the venture, and the updated structure is designed to align with US manufacturing incentive frameworks.The company also entered into a sales, marketing, and business development agreement with PotisEdge and agreed to issue 1.2 million common shares as consideration.Price: $3.10, Change: $-0.02, Percent Change: -0.64%