/C O R R E C T I O N -- NeoVolta/
NeoVolta (NASDAQ: NEOV) has successfully completed phase one of its $250M loan application from the U.S. Department of Energy Title 17 Loan Program and advances to phase two technical due diligence. The company plans to establish a new manufacturing facility employing over 150 workers, focusing on domestic battery cell technology production and inverter assembly.
The company has received offers from 23 state economic development agencies for establishing headquarters, manufacturing facilities, and regional offices. These offers include various grants for capital expenditures, workforce development, and expansion costs. The DOE loan program, which offers interest rates as low as 0.0375%, typically takes 12 months to complete and requires projects to support clean energy deployment and reduce greenhouse gas emissions.
NeoVolta (NASDAQ: NEOV) ha completato con successo la fase uno della sua richiesta di prestito da $250 milioni dal Programma di Prestiti del Titolo 17 del Dipartimento dell'Energia degli Stati Uniti e avanza alla fase due della due diligence tecnica. L'azienda prevede di stabilire un nuovo stabilimento produttivo che impiegherà oltre 150 lavoratori, concentrandosi sulla produzione di celle batteria domestiche e sull'assemblaggio di inverter.
L'azienda ha ricevuto offerte da 23 agenzie statali di sviluppo economico per stabilire la sede centrale, stabilimenti di produzione e uffici regionali. Queste offerte includono vari contributi per spese in conto capitale, sviluppo della forza lavoro e costi di espansione. Il programma di prestiti del DOE, che offre tassi d'interesse così bassi come 0,0375%, richiede tipicamente 12 mesi per essere completato e richiede che i progetti sostengano l'implementazione di energie pulite e riducano le emissioni di gas serra.
NeoVolta (NASDAQ: NEOV) ha completado con éxito la fase uno de su solicitud de préstamo de $250 millones del Programa de Préstamos del Título 17 del Departamento de Energía de los Estados Unidos y avanza a la fase dos de la debida diligencia técnica. La compañía planea establecer una nueva planta de fabricación que empleará a más de 150 trabajadores, centrándose en la producción de tecnología de celdas de batería nacionales y el ensamblaje de inversores.
La empresa ha recibido ofertas de 23 agencias estatales de desarrollo económico para establecer su sede, plantas de fabricación y oficinas regionales. Estas ofertas incluyen varias subvenciones para gastos de capital, desarrollo de la fuerza laboral y costos de expansión. El programa de préstamos del DOE, que ofrece tasas de interés tan bajas como 0.0375%, generalmente toma 12 meses en completarse y requiere que los proyectos apoyen el despliegue de energía limpia y reduzcan las emisiones de gases de efecto invernadero.
NeoVolta (NASDAQ: NEOV)는 미국 에너지부의 17번 제목 대출 프로그램으로부터 2억 5천만 달러의 대출 신청 1단계를 성공적으로 완료하고 기술 실사 2단계로 진행됩니다. 이 회사는 150명 이상의 근로자를 고용하는 새로운 제조 시설을 설립할 계획이며, 국내 배터리 셀 기술 생산 및 인버터 조립에 중점을 두고 있습니다.
이 회사는 23개 주 경제 개발 기관으로부터 본사, 제조 시설 및 지역 사무소를 설립하기 위한 제안을 받았습니다. 이러한 제안에는 자본 지출, 인력 개발 및 확장 비용을 위한 다양한 보조금이 포함되어 있습니다. DOE 대출 프로그램은 0.0375%의 낮은 이자율을 제공하며, 일반적으로 완료하는 데 12개월이 걸리며, 프로젝트가 청정 에너지 배치를 지원하고 온실가스 배출을 줄여야 합니다.
NeoVolta (NASDAQ: NEOV) a réussi à terminer la phase un de sa demande de prêt de 250 millions de dollars auprès du Programme de prêts Titre 17 du Département de l'énergie des États-Unis et passe à la phase deux de diligence raisonnable technique. L'entreprise prévoit d'établir une nouvelle usine de production employant plus de 150 travailleurs, en se concentrant sur la production de cellules de batterie nationale et l'assemblage d'onduleurs.
L'entreprise a reçu des offres de 23 agences de développement économique des États pour établir des sièges sociaux, des installations de production et des bureaux régionaux. Ces offres comprennent diverses subventions pour les dépenses d'investissement, le développement de la main-d'œuvre et les coûts d'expansion. Le programme de prêts du DOE, qui offre des taux d'intérêt aussi bas que 0,0375 %, prend généralement 12 mois pour être complété et exige que les projets soutiennent le déploiement d'énergies propres et réduisent les émissions de gaz à effet de serre.
NeoVolta (NASDAQ: NEOV) hat erfolgreich die erste Phase seines 250 Millionen Dollar-Darlehensantrags beim US-Energieministerium Titel-17-Darlehensprogramm abgeschlossen und schreitet zur technischen Due Diligence in Phase zwei voran. Das Unternehmen plant die Errichtung einer neuen Produktionsstätte, die über 150 Arbeiter beschäftigen wird, wobei der Schwerpunkt auf der Produktion von inländischen Batteriezellen und der Montage von Wechselrichtern liegt.
Das Unternehmen hat Angebote von 23 staatlichen Wirtschaftsentwicklungsbehörden für die Gründung von Hauptsitzen, Produktionsanlagen und Regionalbüros erhalten. Diese Angebote beinhalten verschiedene Zuschüsse für Investitionsausgaben, die Entwicklung der Arbeitskräfte und Erweiterungskosten. Das DOE-Darlehensprogramm, das Zinssätze von nur 0,0375 % anbietet, benötigt in der Regel 12 Monate für die Fertigstellung und erfordert, dass Projekte die Bereitstellung von sauberer Energie unterstützen und die Treibhausgasemissionen reduzieren.
- None.
- None.
In the news release, NeoVolta
NeoVolta $250M
Company Enters Technical Due Diligence for
To meet domestic content requirements for commercial grade Battery Electric Storage Systems (BESS) and other components, the company will establish a state-of-the-art manufacturing facility that can accommodate more than 150 high-paid employees.
Additionally, NeoVolta will establish regional deployment and support centers to meet growing demand nationwide. The company will vertically integrate the manufacturing supply chain, primarily producing its battery cell technology, both cylindrical and prismatic. A percent of that production will be utilized for 3rd party sales, enabling more manufacturers to participate with domestic content. The company will also expand into inverter production and assembly.
Domestic content requirements for the entire industry were codified in the bipartisan Inflation Reduction Act (IRA) in 2022, and President-elect Trump has continued to promote American production throughout this transition announcements. "Strengthening
NeoVolta has received financial offers for the establishment of a headquarters, manufacturing facility, and regional offices from 23 state economic development agencies, offering a wide range of grants for capital expenditures, workforce development, cost of relocation, cost of expansion, and off take agreements with state utilities. The company is now reviewing each of these offers, making a determination on where to proceed for a best and final offer.
"Given the renewed focus on
Under the Title 17 Clean Energy Financing Program, projects must be able to feasibly and financially support clean energy deployment infrastructure and investment to reduce greenhouse gas emissions and air pollution. The program has been financed since the Energy Policy Act of 2005 and has since been amended, most recently by the Infrastructure Investment and Jobs Act in 2021 and the Inflation Reduction Act in 2022.
NeoVolta is seeking to be deemed by DOE as an "Innovative Energy" project that will reduce greenhouse gas emissions through designing, creating, producing and selling advanced commercial Battery Energy Storage Solutions nationwide using lithium iron. DOE LPO programs are backed by a federal guarantee, with a favorable interest rate as low as .
"We are confident in our application to the DOE," added Johnson, "and believe that we are well positioned to provide technical feasibility, as well as other required due diligence."
NeoVolta
NeoVolta is a leading innovator in energy storage solutions dedicated to advancing the future of clean energy. Founded to provide reliable, sustainable, and high-performance energy storage systems, the company has quickly established itself as a critical player in the industry. NeoVolta's flagship products are designed to meet the growing demand for efficient energy management in residential and commercial applications. With a focus on cutting-edge technology and strategic partnerships, NeoVolta is committed to driving progress in renewable energy and enhancing how the world stores and uses power.
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. Although the Company 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. The Company 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 Item 1A. "Risk Factors" in the Company's most recently filed Form 10-K filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/neovolta-250m-loan-application-part-one-approved-by-the-us-department-of-energy-loan-program-302303653.html
SOURCE NeoVolta
FAQ
What is the status of NeoVolta's (NEOV) DOE loan application in November 2024?
How many state economic development agencies have offered support to NeoVolta (NEOV)?
What is the planned employment capacity of NeoVolta's (NEOV) new manufacturing facility?
What is the interest rate offered under the DOE Title 17 Loan Program for NeoVolta (NEOV)?
