NeoVolta signs $10M battery pack agreement

NeoVolta Inc., an technology company focused on scalable energy storage solutions, said its subsidiary, NeoVolta Power LLC, has entered into a Master Supply Agreement (MSA) with Lion Power LLC, a provider of autonomous power management systems. The agreement was said to reflect NeoVolta’s strategy of selectively extending its energy storage capabilities into complementary markets within its broader commercial and industrial (C&I) customer base.

“We’re excited to welcome Lion Power as a strategic customer,” said Steve Bond, president of NeoVolta Power, based in Poway, Calif. “PowerBase is a strong technical fit for our battery management and manufacturing capabilities, and this agreement reflects the confidence Lion Power has placed in our quality and our ability to deliver at scale. We look forward to supporting their growth as we begin shipments this quarter.”

NeoVolta Power has signed a battery pack supply agreement with Lion Power. The packs will support PowerBase, Lion Power’s automated battery exchange system for forklift fleets. (Photo: Josh Beberg/Driven Cinematics)

The MSA reportedly establishes a binding minimum purchase commitment valued at nearly $10 million at base contract pricing, for delivery through 2027. NeoVolta Power said it has already received initial purchase orders valued at more than $4 million, with multiple MWh of battery capacity shipping in Q4 2026.

The initial shipments are expected to mark NeoVolta Power’s first commercial and industrial deliveries.

The battery packs will support Lion Power’s PowerBase, an Autonomous Power Management (APM) system designed to help forklift fleets cut peak energy demand, lower energy costs and simplify power infrastructure.

Diversifying across C&I markets

“PotisEdge batteries have powered ionCore for five years and earned our customers’ trust for quality and durability,” said Michael Walker, co-founder and vice president of Engineering of Lion Power in Greenville, S.C. “Now NeoVolta Power is giving us a dependable source as demand grows.”

Lion Power’s PowerBase system stores and charges a shared pool of lithium batteries and reportedly exchanges a depleted battery for a fully charged one in under two minutes, with no manual handling, allowing forklift fleets to run around the clock. A single PowerBase can support up to 180 trucks.

Lion Power said PowerBase is live at 25 sites and has completed more than 650,000 battery exchanges.

“We’re beginning to see momentum as purchase orders start to come in, which speaks to the strength of demand for our products and the confidence our customers have in NeoVolta,” said Ardes Johnson, Chief Executive Officer of NeoVolta Inc. “Diversification is an important part of our strategy — our C&I business spans a wide and varied set of end markets, and this partnership with Lion Power is a good example of the kind of complementary opportunity that diversity allows us to pursue, without pulling focus from our core utility-scale and C&I business.”

NeoVolta Power LLC was formed as a joint venture (JV) between China’s Longi Green Energy Technology Co. Ltd., NeoVolta Inc. and PotisEdge. Longi completed its acquisition of Canada-based PotisEdge in March.

The JV will develop domestic BESS manufacturing to serve the U.S. utility-scale and C&I energy storage markets.

In September, NeoVolta hosted a grand-opening ceremony in Pendergrass, Ga. The new 210,600-sq.-ft. facility located there is a purpose-built BESS factory designed to assemble commercial, industrial and utility-scale energy-storage products. The initial Pendergrass production line is advancing through commissioning and site acceptance testing, and the production ramp remains on track for the fourth quarter of 2026.