NeoVolta Selected by American Development Partners for Nationwide Integration

Rhea-AI Summary

NeoVolta Inc. (NASDAQ: NEOV) has announced a significant partnership with American Development Partners (ADP) to install its energy storage systems in over 750 pain management clinics nationwide. This collaboration marks the beginning of a broader rollout expected to cover thousands of ADP's properties over the next four years. NeoVolta's systems, which utilize lithium iron phosphate technology, provide high storage capacity and safety, supporting energy savings and backup power. ADP's endorsement emphasizes the reliability and innovation of NeoVolta's solutions.

Positive

• Partnership with ADP for installation in over 750 clinics.
• Potential for future installations in thousands of properties.
• Recognition as ADP's exclusive energy storage solution enhances credibility.
• High storage capacity and safety of NeoVolta's lithium iron phosphate technology.

Negative

• None.

A Nationwide Buildout of 750 Pain Management Clinics will all feature a NeoVolta NV14 plus NV24 ESS as a key component of ADP’s energy savings and backup protection systems

SAN DIEGO, Oct. 04, 2022 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, today announced that its systems will be deployed in over 750 free standing pain management clinics. This initial phase of installations is part of an expected nationwide rollout of NeoVolta batteries in 1,000s of American Development Partners (ADP) properties across the country over the next four years.  

Being elected by ADP as its exclusive Energy Storage System for its commercial developments sets a new precedence for NeoVolta and its utility. This opens an entire new market, the small to mid-size commercial building, and further underscores the value being recognized in NeoVolta.

“Selecting NeoVolta as our battery system became an obvious choice once we took the time to evaluate the marketplace,” said American Development Partners, Founder and COO, Manny Butera. “At ADP we always are on the forefront of quality, dependability, and safety. NeoVolta’s product exemplifies those traits.”

Together with American Development Partners, NeoVolta will provide energy storage systems and intelligent power management for buildings across the country. The clean solar energy stored in the NeoVolta battery can be used to mitigate the electric bills and act as backup in case of a power loss.

“We are proud to have been selected by ADP as their ESS provided in their ongoing and future developments,” said Brent Willson, CEO of NeoVolta Inc. “They have an incredible pipeline of development and the opportunity to yet again expand the use of NeoVolta in such a large way is something the entire team takes pride in.”

The NeoVolta systems provide high storage capacity and power output, along with high-cycle battery life. Engineered with a lithium iron phosphate battery chemistry, these systems are a safe, nonflammable alternative to ordinary lithium-ion batteries. In 2022, NeoVolta was recognized by Solar Power World’s Top Solar Storage Products for the third year 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 American Development Partners
Based in Nashville, TN, American Development Partners® (ADP) is a full-service developer of free-standing, single-tenant commercial real estate across all 50 states. Our turnkey solution allows industry-proven multi-unit operators to grow their business without the upfront investment of their own capital by providing them with site selection, general contractor, private equity, design, architectural, and engineering services. With this unique approach, our operating partners can truly focus on running the very best organization possible and developing their organizational infrastructure. Our model is unique; we work with multi-unit operators looking to expand into new markets or develop large territories in a rapid manner. We are focused on developing the best franchise and privately-owned concepts on the market. 

For more information on American Development Partners, please visit: https://www.americandevelopmentpartners.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 timing of the ADP rollout, 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/947a1220-bdf9-486c-a905-b995074616a3 

FAQ

What is the significance of NeoVolta's partnership with ADP?

NeoVolta's partnership with ADP is significant as it allows for the installation of its energy storage systems in over 750 clinics, leading to potential future deployments across thousands of properties.

What products will NeoVolta supply to ADP's clinics?

NeoVolta will supply its NV14 and NV24 energy storage systems to ADP's clinics, enhancing energy savings and providing backup power.

When is the rollout of NeoVolta's systems expected to occur?

The rollout of NeoVolta's systems is expected to occur over the next four years as part of a broader installation in ADP's properties.

How does NeoVolta's technology benefit commercial buildings?

NeoVolta's technology benefits commercial buildings by providing high-capacity energy storage, enabling cost savings on electric bills and acting as backup during power outages.

What distinguishes NeoVolta's battery technology from traditional lithium-ion batteries?

NeoVolta's battery technology is distinguished by its lithium iron phosphate chemistry, offering high safety (nonflammable) and longevity (6,000-cycle battery life).