NeoVolta Inks $10M Battery Supply Deal With Lion Power, First C&I Shipments Set for Q4
NEOV sits 89% above its 52-week low of $1.36.
Summary
NeoVolta's subsidiary NeoVolta Power signed a Master Supply Agreement with Lion Power for a binding minimum purchase commitment of nearly $10 million through 2027. Initial purchase orders exceed $4 million, with multiple MWh of battery capacity shipping in Q4 2026 — marking the company's first commercial and industrial deliveries. The deal diversifies NeoVolta's C&I platform beyond its core utility-scale business and follows the SK On cell supply agreement and Infinite Grid Capital framework announced earlier this year. The agreement provides a concrete revenue pipeline at a time when the company reported a $21.5M net loss and material weaknesses in internal controls. Execution on the Q4 shipments will be the key near-term milestone.
At the time of this announcement, NEOV was trading at $2.58 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $145.2M. The 52-week trading range was $1.36 to $7.13. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.