NeoVolta Partners with Mosaic for Solar Battery Storage Financing Options, Fast-Tracks Technology on Anticipation of Growing Power Outage Concerns

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NeoVolta partners with Mosaic to offer affordable financing for solar energy storage systems

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• Partnership expected to fuel NeoVolta's success in the home energy storage market

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San Diego solar battery storage company NeoVolta (Nasdaq:NEOV) partners with Mosaic to help more homeowners finance energy storage purchases and escape the detriments of power outages

SAN DIEGO, Sept. 12, 2023 (GLOBE NEWSWIRE) -- NeoVolta Inc., (NASDAQ: NEOV), a solar battery manufacturer and developer of Smart Energy Storage Solutions, has partnered with sustainable home improvement finance platform Mosaic to offer more homeowners solar energy storage at an affordable rate.

Mosaic, which has funded $14 billion in loans for Residential Solar and Sustainable Home Improvements, will offer finance options for standalone NeoVolta Energy Storage System (ESS) installations with or without solar panels, as well as offer the technology in newly generated quotes for interested homeowners.

To apply, homeowners must first discuss costs with their local installer before completing an online application. The process is fast and easy, with flexible underwriting to ensure homeowners are approved. Homeowner benefits include:

• Competitive APRs and low monthly payments
• No prepayment penalties, hidden costs, or swipe fees

“Mosaic’s financing options will allow more homeowners to enjoy years of utility savings and long-lasting blackout protection with NeoVolta’s energy storage,” said CEO Brent Willson, CEO of NeoVolta. “Our solar storage solutions are a smart investment for homeowners, and it’s never been easier to get started. With Mosaic financing options, NeoVolta’s market is opening up to a much bigger audience. We’re thrilled to partner with a world-class fintech platform for sustainable home improvements.”

The partnership is expected to fuel NeoVolta’s continued success in the rapidly growing home energy storage market and answer the urgent need for home backup power due to environmentally-driven power outages across the country.

NeoVolta storage systems are designed for safety and performance. The company’s flagship NV14 energy storage system uses lithium-iron phosphate battery chemistry, the nonflammable and nontoxic alternative to lithium-ion.

With its superior safety, performance, and compatibility with any solar system, new or existing, the NV14 has been named one of Solar Power World’s top storage products four years in a row.

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.

For more information visit: http://www.NeoVolta.com email us: IR@NeoVolta.com or call us: 858-239-2029

About Mosaic
Mosaic is an industry-leading fintech platform for sustainable home improvements. With deep, strategic partnerships and a network of thousands of contractors nationwide, we empower homeowners to unlock greater savings, resilience and value in their homes. Founded in 2010, Mosaic is a pioneer in clean energy lending and continues to provide innovative solutions for financing solar, battery storage, heat pumps and more. We doubled our funding volume in 2022 and have funded $14 billion in loans to date, helping almost 400,000 households make their homes more sustainable and save money on their utility bills. Our financing options unlock billions of dollars of capital annually into high-quality ESG assets. Join us in our vision of 100% clean energy for all at joinmosaic.com.

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.