This is the first commercial LOI associated with the Pendergrass manufacturing facility, which remains on track to begin ramp-up in Q3 of calendar year 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. This LOI arises from 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.

"This LOI with Infinite Grid Capital is a powerful validation of the platform we have been building," said Ardes Johnson, Chief Executive Officer of NeoVolta. "With the Georgia facility on track to begin ramp-up in Q3 of this year, we now have the framework for a strategic customer relationship that creates direct line-of-sight between our manufacturing ramp and a 1.1 GWh pipeline of identified utility-scale projects across West Texas, Puerto Rico, and PJM. This is exactly the kind of demand visibility that will support disciplined production planning as we approach first output, and it demonstrates that the market is actively seeking domestic, FEOC-compliant BESS supply from a trusted U.S. manufacturing partner."

"This LOI aligns closely with IGC's long-term strategic investment and infrastructure development vision in the United States," said Frank Liu, CEO of Infinite Grid Capital. "By securing approximately $200 million in domestically manufactured battery supply as a strategic resource, we are strengthening our ability to continuously invest in AI-driven power infrastructure and utility-scale energy storage projects across the U.S. market. We believe this partnership establishes a strong foundation for IGC's long-term growth and project deployment strategy in the United States."

The LOI is non-binding with respect to product purchase and supply obligations. Neither party has any obligation to purchase, sell, reserve, manufacture, deliver, or pay for any minimum quantity of products unless and until such obligations are expressly set forth in definitive written agreements.