NeoVolta Lifts Stake in US Battery Joint Venture to 80%-April 2024-www.financetom.com

NeoVolta Lifts Stake in US Battery Joint Venture to 80%

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NeoVolta Lifts Stake in US Battery Joint Venture to 80%

Apr 21, 2026 8:09 AM

10:28 AM EDT, 04/21/2026 (MT Newswires) -- 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 ( NEOV ) said Tuesday in a statement.

The transaction requires no new cash outlay. NeoVolta ( NEOV ) said.

NeoVolta ( NEOV ) 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.

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