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Infinite Grid Capital Signs 1.1 GWh BESS Supply LOI with NeoVolta to Power U.S. AI Infrastructure Buildout
Strategic Procurement Framework Anchors IGC's U.S. AI Power and Grid Storage Pipeline with Domestically Manufactured, FEOC-Compliant Battery Supply from NeoVolta's Georgia FacilitySACRAMENTO, Calif., May 28, 2026 (GLOBE NEWSWIRE) -- Infinite Grid Capital (“IGC”), an energy infrastructure investment platform that develops and finances large-scale power projects across North America, today announced that it has entered into a Letter of Intent (“LOI”) with NeoVolta Inc. (NASDAQ: NEOV) (“NeoVolta”)
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[{"type":"text","content":"Strategic Procurement Framework Anchors IGC's U.S. AI Power and Grid Storage Pipeline with Domestically Manufactured, FEOC-Compliant Battery Supply from NeoVolta's Georgia Facility","length":188,"tagName":"p"},{"type":"text","content":"SACRAMENTO, Calif., May 28, 2026 (GLOBE NEWSWIRE) -- Infinite Grid Capital (“IGC”), an energy infrastructure investment platform that develops and finances large-scale power projects across North America, today announced that it has entered into a Letter of Intent (“LOI”) with NeoVolta Inc. (NASDAQ: NEOV) (“NeoVolta”) for the strategic procurement of utility-scale battery energy storage products to be manufactured at NeoVolta’s Pendergrass, Georgia manufacturing facility.","length":476,"tagName":"p"},{"type":"text","content":"This is the first commercial LOI associated with the Pendergrass manufacturing facility, which remains on track to begin production in Q3 of calendar 2026. The LOI identifies three initial utility-scale project opportunities totaling approximately 1.1 GWh across the United States: an approximately 400 MWh project in West Texas, an approximately 400 MWh project in Puerto Rico, and approximately 300 MWh across multiple projects in PJM territory. IGC would procure such products directly or through its designated affiliates, project entities, and managed investment vehicles. This LOI fulfills the commercial framework contemplated at the time of IGC's December 2025 strategic investment in NeoVolta, when the parties announced plans to evaluate potential future commercial opportunities, including offtake arrangements that may align NeoVolta's commercial channels with IGC's grid-scale pipeline.","length":911,"tagName":"p"},{"type":"text","content":"The LOI contemplates potential commercial relationship structures including preferred supplier status for designated IGC projects, project-specific exclusivity or first-negotiation arrangements, priority-allocation rights for designated manufacturing capacity, and a master supply framework agreement tied to deployment milestones and rolling forecasts. The LOI also provides for coordinated marketing, financing, strategic investment, and project development activities where mutually beneficial. Final terms, pricing, delivery schedules, and project-level commitments will be established through definitive agreements. The LO...