Good morning, everyone. My name is Steve Bond. I'm the CFO and co-founder of NeoVolta. Ardes Johnson was scheduled to present, but he is in the TSA traveling to Washington, D.C., so I'll take it from here. I founded NeoVolta in 2018 with a group of partners in Southern California. We have always been an energy storage technology company, and I'm gonna tell you the story that spans two different sort of trajectories. We think it's a real exciting time for us right now to start telling the story, which is why we are here. The safe harbor statement you can all read, as I'm sure you've seen before. When I founded the company with my co-founders in 2018, we were really a regional residential storage company.
We focused mainly in Southern California, and that was the company for the first six years. In mid-2024, we hired Ardes Johnson to be the new CEO, with background from GE and from Tesla and a number of other manufacturers in the renewable energy space. What he, you know, put in place for a strategic trajectory for the first year, which is our fiscal 2025, ending June 30, 2025, was to take low-hanging fruit by expanding the geographic and product scope of the company. With that put in place, we were able to have a record fiscal 2025, which I can show the numbers a little later.
During the summer of 2025, we realized with the passage of the OB, the big beautiful bill, and with the tightening of the competition in the residential space, we had to make some adjustments to the business model. We set out in the summer to expand our technology stack to move upmarket into commercial and industrial, which would include things like restaurants and hospitals and small manufacturers. To take control of the supply chain through either partnerships or acquisitions in the manufacturing or delivery of components to the product. You can see here that the last quarter, ending December 31, 2025, was another record quarter for us and a record half year, up 334% and 580%, respectively. Really the origin of NeoVolta was that we would be scalable and flexible.
The market conditions at the time we launched were really that you had one choice, which was a Tesla Powerwall. My co-founder designed the system to be a lot more user-friendly for the installer and easily maintained by the homeowner. We've kept that spirit through the rest of the business as we've grown into broader markets, both on the product side and the geographic side. As I tell the story of where we're going, you can see that we've been able to identify opportunities and adapt to get to those opportunities more quickly than our competition. People who don't know the market ask, "Why batteries? Why do they matter?" Really, there's two sides of the story. On the user side, you know, you can think it's relatable. You think of things like backup.
When the power goes out, you have backup. Cost savings in districts where there's arbitrage opportunities. You can charge your power, charge your battery when it's cheaper and use your power when it's more expensive. Energy independence is a sort of a buzzword in the industry, where if you're producing the power, you should be able to use it at your own control. It gives you the opportunity to own when it is that you use your power and buy your power or produce your power. Historically, batteries have been tied with solar. That's where we got our start, where Tesla got their start. More and more, the industry is moving to be power generation agnostic. As we, you know, we see opportunities in wind and turbines and other power generation sources.
We can talk about, we'll talk about that more in a little bit. A core part of our business is still taking solar energy that you produce and not sending it back to the grid, but keeping it for yourself to use when the sun's not shining. On a bigger scale, the second part of why storage matters is that the grid is upside down. There's more electrification coming on the market, and there just isn't. The grid isn't well positioned to take care of that. This is a widely known fact. We often talk about it. You could fix it, and it would take $10 billion over 10 years. Or you could regionalize the fix and put batteries distributed throughout the country that took the pressure off the grid, both from electrification and a generation standpoint.
With EVs coming online, as we all know, data centers, the hot topic in the industry, and electrified manufacturing, it's just gonna get worse. More and more, we're seeing batteries as the key solution to that. We're positioning ourselves to be the answer to that at not only the residential level, but the restaurants and the 7-Elevens and even up to the utilities. I've gone over this, but we got our start. Like in the background here, just on a home, and Tesla Powerwall is sort of the nearest comp to what we were. Maybe the best comp now, as they're the only real company that services all three verticals of storage, being residential, commercial, and utility. The difference with NeoVolta, of course, is that we are pure play storage.
Our shareholders, what they're investing in is the future of batteries. As we stay flexible like this, we've expanded our product portfolio to some new technology I'll explain in a second. We've moved into manufacturing, which we'll talk about in a minute. This is the story I told on the revenue. From fiscal 2024, we did $2.6 million in revenue for the whole year. Right as we sort of changed our strategy to be nationwide and have way more flexibility in our product offerings, we started growing very quickly, almost doubling every quarter for six quarters.
Leading up to this decision to say, "If we're gonna keep scaling like this, we have to find some new revenue streams and some new opportunities and cover our downside risk in just being focused in resi only." We set out to build these multiple revenue streams. We've scaled our service offerings. In the world of renewable energy, financing is really key to the rollout of product. We've engaged with a number of partners on the financing and the tax equity angle on financing. We've grown into C&I markets, which I'll talk about in a second. We've broadened to national distributors, which was never in the strategy before.
We're now in the Home Depot's of the renewable energy space, which has really helped us scale without too much cost of customer acquisition. Finally, the battery manufacturing through the real transformational joint venture that we just finalized this quarter. What all this has done, of course, is expand our total available market. Resi only is a great market, but it's really crowded and the technology is not unique among competitors. It's more about how much money you can spend on marketing. The whole plan is to expand that total addressable market, as you see here, with the $20 billion utility scale market and the $10 billion U.S. C&I market.
With our financing partners, there's a lot of potential revenue in the financing and corollary services side of things. We've expanded our market from about $15 billion as it was a year ago, to $45 billion by 2030. I'll talk about the three milestones that we achieved in the first half of our fiscal 2026. Looks like my presentation dropped off. The first one was we acquired the technology and assets of a company called Neubau. This is a non-Chinese battery energy storage residential company at first. This was key for the Build Back Better bill that Chinese inputs and Chinese ownership made it difficult to raise financing for renewable energy.
What Neubau gave us was the entire technology stack in non-Chinese inputs to make a very unique product that we own. Typically in the industry, what people do is buy components from China and brand them and sell them as their own. What we're doing is from nuts and bolts up to the final product, we own the technology stack. This is gonna allow us to, we think, to really differentiate ourselves in the residential market and become a massive player in the second half of this year, this calendar year. The second achievement that we had last, the second half of last year was a collaboration with Luminia. Luminia is a really unique company in that they've developed a platform for the distribution of C&I storage.
When people talk about commercial and industrial storage, it's always been a difficult market to penetrate because each job is another 7-Eleven or another restaurant. What Luminia has done is standardize the delivery of those units and establish relationships up and down the supply chain to no longer really compete with utilities like storage traditionally has done, and rather act as a cooperator to ease the strain on the grid through the distribution of widespread storage across a district or a utility's area. We've expanded our collaboration with them and we believe that we are gonna be a huge player in the C&I market over the next year. We've already adopted a supply collaboration with them, and we see the relationship getting much deeper as C&I becomes what we call the missing middle.
There's always been a lot of focus on utility and residential. We think with the partnership with Luminia, we can be the industry leader in that C&I market. Finally, the sort of biggest story to Luminia to NeoVolta is the joint venture we signed with PotisEdge and LONGi, two massive players in the renewable energy space to build the plant that you see here in Pendergrass, Georgia, just northeast of Atlanta. Because of the Big Beautiful Bill, NeoVolta as a public entity was able to partner with these foreign entities to partner on the building out of this plant, which is a 2 GWh battery energy storage plant. Primarily utility scale, probably 75%-80% utility scale output and the balance of that will be C&I product.
Our sort of illustrative annual potential for the plant is about $200 per kWh. We use that as a fully loaded revenue target and so for a 2 GWh plant, that's $400 million of illustrative annual potential. The way we look at this is that PotisEdge is an industry leader in battery technology and utility scale battery technology, so PotisEdge has de-risked this joint venture as it relates to technology. LONGi, who just acquired a majority stake in PotisEdge , is the largest solar panel manufacturer in the world and one of the biggest players in utility scale solar deployments in the U.S. They've sort of de-risked the pipeline aspect of the joint venture to a great extent. The
The joint venture isn't a NeoVolta experiment into energy storage systems. It's taking two experts and leaders in the field to build out what we think is gonna be a game-changing U.S.-made energy storage systems in a market that's just gonna be booming when all these data centers come online and more and more utilities are realizing the positive impacts of batteries on their generation. Here's a snapshot of the plant. It's almost all automated. We've just come back from China where we saw the machines in full motion and signed off on them. They're actually shipping out to Atlanta this next week, and we anticipate them being fully online the first week of June and in commercial production by late July into August.
Wrapping up that what our plan was for fiscal 2026 is we set out to own the technology stack, become more of an integrated provider, diversify into C&I, also into the finance, and then owning that supply chain. You know, through a lot of hard work and some luck and some good relationships, we were able to really make great strides on all three. Both with the battery manufacturer, with the JV, through the Neubau technology stack, which is gonna be a hugely important asset for us moving forward, and through the Luminia collaboration, which I described. Currently we've seen great revenue growth.
You know, our margins have thinned a little bit, but this is just the cost of changing a business model. We anticipate the revenue growth to continue after you know the industry's in a bit of a transitional phase now, as you've probably seen. Moving into the Build Back Better era is gonna be difficult for a lot of renewable energy companies. We will come out of this with a full bag of tricks to take advantage of that gap in the market that the Build Back Better created. The capital structure for the joint venture, NeoVolta is the only capital partner in the development.
This is one of the requirements from the Big Beautiful Bill that a U.S. company raises money from non-foreign entities in order to develop renewable energy resources or assets that can access the tax equity benefits of the ITC. The commitment here is about $7 million by January 2026, which was funded $8 million by April 30, which we're set to fund in a month now, and then $10 million at commissioning to buy all the assets of the plant. We intend to finance that $10 million through debt, through equipment financing, and we're in a position now where we're raising capital just to fund working capital for the growth in not only the plant but in all three aspects of our business.
The nice thing about seeing this timeline is that it's accelerating. When I look at this, I just think we're gonna have to delete all the boxes on the left pretty soon and just add about 12 boxes on the right because we're accelerating our development so quickly it's hard to keep track. It's fun to look back at the past sometimes. Just to highlight here, record growth, transformational on all three fronts that I mentioned. The joint venture is really the shiny object that everybody pays attention to, but the other two have the potential to be just as large.
We've secured three relationships that we believe can both be developed and multiplied over the next year or two that we grow this business, and we're excited about where we are. That's the end of that, and I'll be open for questions if anyone has any. Sounds quiet. With that, unless I hear anything otherwise, I'll talk to some of you to you tomorrow on the one-on-ones. Otherwise, I'll leave it at that. Thanks a lot, everyone.