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NeoVolta Expands its Emerging Presence Across America by Adding $520,000 Purchase Order for Residential Solar Battery Storage in New Mexico

SAN DIEGO, Nov. 09, 2023 (GLOBE NEWSWIRE) -- (NASDAQ: NEOV) – NeoVolta Inc. – a manufacturer of Smart Energy Storage Solutions – today announced that it has expanded its presence as a leading home solar power storage in the state of New Mexico, with a high six-figure deal that places NeoVolta NV14 batteries in new home construction projects across the state.

“This order is the first of what we expect to be many follow-on orders over the coming years and indicates strong demand for NeoVolta’s energy storage products, with New Mexico being the latest state to embrace our solar batteries,” said Brent Willson, CEO of NeoVolta. “Our all-in-one NV14 storage system provides safe, reliable backup power during an outage when you need it most. And during normal conditions, it’s the perfect solution for escaping skyrocketing utility costs. A key decision factor in selecting NeoVolta is our UL 9540A battery certification, as well as the ability to couple with DC solar, meaning the NV14 battery is a No Fire solution that’s also more efficient than the competition.”

NeoVolta is proud to add New Mexico to its growing list of states where NeoVolta systems are installed, including California, Arizona, Nevada, Utah, Oklahoma, Georgia, Florida, Texas, Colorado, Tennessee, Alabama, Georgia, Kentucky, Illinois, Wyoming, and the territory of Puerto Rico.

NeoVolta’s NV14 system was also recognized as one of Solar Power World’s Top Solar Storage Products for the third year in a row. The company also earned accolades in April 2022, as the NV14 was named one of the most affordable solar batteries in the U.S. in EnergySage’s latest semi-annual Solar Marketplace Intel Report.

About NeoVolta - NeoVolta designs, develops, and manufactures advanced energy storage systems for both residential and industrial use. Its storage solutions are engineered with lithium iron phosphate (LiFe(PO4)) battery chemistry, which is clean, nontoxic, and nonflammable. The residential-focused NeoVolta NV14 is equipped with a solar-rechargeable 14.4 kWh battery system, a 7,680-Watt inverter, and a web-based energy management system with 24/7 monitoring. The system’s 6,000-cycle battery life, one of the longest on the market, translates to 16.5 years of useful life, based on a full charge and discharge each day. The NV14 has passed the product safety standards set forth by Underwriters Laboratories (UL) for battery energy storage safety testing.

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Forward-Looking Statements: Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the future performance, reliability and safety of NeoVolta’s NV14 storage system and the ability of the NV14 to be successfully integrated with residential backup generators. Although NeoVolta believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. NeoVolta has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the "Risk Factors" section of NeoVolta’s Form 1-A filing filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. NeoVolta undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

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