The RoHo Capital Opportunity Fund, a joint venture formed by Horizon and CR Financial, the holding company for Roth Capital Partners, provided a $20 million senior credit facility to NeoVolta with the ability to increase the facility to $30 million upon mutual agreement. An initial $20 million was funded at closing to support NeoVolta’s continued growth.
“Providing growth capital to innovative companies operating in attractive, high-growth markets is a core focus of RoHo’s investment strategy,” Paul Seitz, chief investment officer of Horizon, said. “Formed by Horizon and Roth Capital, RoHo pairs Horizon’s venture lending and structuring expertise with Roth’s deep public markets relationships to deliver flexible growth capital to small- and micro-cap public companies. We are pleased to support NeoVolta’s growth plans with a tailored financing solution and look forward to continuing to deploy capital through RoHo in support of innovative public companies pursuing significant market opportunities.”
Ardes Johnson, CEO of NeoVolta, added, “Horizon and Roth Capital bring valuable experience and a collaborative approach as we advance NeoVolta’s domestic battery energy storage systems manufacturing platform. As we ramp our Georgia facility and pursue larger commercial and utility-scale opportunities, this relationship supports our ability to execute on our long-term growth strategy.”
