Solar Utility EPC Firm CoVolt Power Powers Up U.S. IPO Effort

CoVolt Power, Inc. is a quickly growing EPC firm targeting utility-scale solar, battery storage, and high-voltage infrastructure, with a $3.6 billion backlog (up 410% YoY). KVLT's financials show strong gross and operating margin improvements, but revenue remains volatile due to project timing amid customer concentration risks. The company operates in the U.S. EPC market, benefiting from AI-driven data center demand and grid upgrades, but faces potential labor shortages and regulatory uncertainties.