RoHo Joint Venture Backs NeoVolta with $30M Loan Facility — Horizon Technology Finance Corporation

Event summary

RoHo Capital Opportunity Fund, a joint venture between Horizon Technology Finance and CR Financial Holdings, provided a $20M senior credit facility to NeoVolta, with an option to increase to $30M.
The initial $20M was funded at closing to support NeoVolta’s growth, particularly its 210,600-square-foot manufacturing facility in Georgia.
NeoVolta is developing battery energy storage systems (BESS) with an initial annual production capacity of up to 2 GWh, scalable to 8 GWh.
RoHo combines Horizon’s venture lending expertise with Roth Capital’s public markets relationships to provide flexible growth capital to small- and micro-cap public companies.

The big picture

The $30M loan facility to NeoVolta underscores the strategic focus of RoHo Capital Opportunity Fund on providing growth capital to companies in high-growth markets like energy storage. This deal highlights the increasing importance of domestic manufacturing in the energy sector, particularly as companies aim to meet U.S. supply-chain requirements. The collaboration between Horizon’s venture lending expertise and Roth Capital’s public markets relationships demonstrates a broader trend of specialized finance firms targeting small- and micro-cap public companies with tailored financing solutions.

What we're watching

Execution Risk: Whether NeoVolta can scale its Georgia facility to meet the 8 GWh production capacity target while managing the $30M loan facility.
Market Dynamics: How the increasing demand for domestic battery energy storage systems will impact NeoVolta’s growth and competitive positioning.
Strategic Partnerships: The extent to which RoHo’s joint venture model can successfully deploy capital to other innovative public companies in high-growth markets.