NeoVolta Inc. - NEOV STOCK NEWS

NeoVolta Inc. (NASDAQ: NEOV) has announced a partnership with EOS Linx for a nationwide rollout of its energy storage systems in 1,000 EOS Linx EV charging stations, starting in Georgia. The initiative enables EV owners to charge while at convenience stores, hotels, and gas stations. Each station will include dual chargers and digital advertising displays. NeoVolta’s technology features lithium iron phosphate battery systems, recognized for safety and reliability. The partnership aligns with the fast growth of electric vehicle adoption and strengthens NeoVolta's position in the energy storage market.

NeoVolta Inc. (NASDAQ: NEOV) announces its energy storage systems now qualify for a 30% tax credit under the Inflation Reduction Act. This provision, applicable from 2022 to 2032, allows homeowners to benefit financially when investing in energy efficiency through stand-alone storage solutions. CEO Brent Willson emphasized the current opportunity for customers to save on utilities and enhance energy resilience. NeoVolta's NV14 and optional NV24 systems have received accolades for performance and affordability, positioning the company favorably in the residential energy storage market.

EOS Linx has chosen NeoVolta Inc. (NASDAQ: NEOV) as its battery supplier for smart EV charging stations. This partnership aims to enhance community electrification and bolster the EV infrastructure with deployments in Georgia, Tennessee, Alabama, and Texas. NeoVolta's advanced energy storage systems utilize lithium iron phosphate technology, ensuring safety and longevity. The units provide at least two chargers and come equipped with digital advertising displays. EOS Linx targets to revolutionize EV charging, boosting demand for NeoVolta's storage solutions as it expands its network.

NeoVolta, Inc. (NASDAQ: NEOV) has closed the sale of an additional 146,250 shares at $3.99 each, resulting in gross proceeds of approximately $583,538. This closing, part of a public offering completed on August 1, 2022, brings total gross proceeds to approximately $4,485,000. The offering was managed by Maxim Group LLC and conducted under a registration statement declared effective by the SEC on July 27, 2022. NeoVolta specializes in energy storage solutions that lower utility bills and provide customers with grid independence.

NeoVolta Inc. (NASDAQ: NEOV) reported significant demand for its energy storage products, with purchases by PMP Energy totaling $555,700 over the past two months. This activity aligns with a three-year exclusive distribution agreement established in 2019, indicating strong market interest. The company has over 50 certified installers in California and expanding installations in several states. The NV14 system has garnered awards for safety and affordability, further solidifying its market position.

NeoVolta has successfully closed an underwritten public offering of 975,000 units at $4.00 per unit, generating gross proceeds of approximately $3.9 million. Each unit comprises one share of common stock and one warrant exercisable at $4.00 for five years. The offering, which included an over-allotment option, was led by Maxim Group LLC. The common stock and warrants began trading on the Nasdaq under the symbols 'NEOV' and 'NEOVW' on July 28, 2022. This capital will support NeoVolta’s manufacturing of energy storage systems, enhancing its operational capacity.

NeoVolta, Inc. (NASDAQ: NEOV) has priced its underwritten public offering of 975,000 units at $4.00 per unit, aiming to raise $3.9 million. Each unit comprises one share of common stock and one warrant, each with an exercise price of $4.00, expiring in five years. The stock and warrants will separate and trade under the symbols NEOV and NEOVW from July 28, 2022. A 45-day option for underwriters to purchase an additional 146,250 shares is included. The offering closes on August 1, 2022, subject to conditions.

NeoVolta announced that its NV14 energy storage system is among the most affordable solar batteries in the U.S., according to EnergySage’s Solar Marketplace Intel Report. The NV14's installed cost per kWh is lower than 20 other brands, including major players like Sonnen and LG Energy Solution. Only Tesla is cheaper, with NeoVolta just 2.6% higher. Additionally, the NV14 offers 7.7 kW of continuous power discharge and a battery life of 6,000 cycles. An optional NV24 add-on battery can increase storage capacity to 24 kWh, further enhancing its cost-effectiveness.

NeoVolta Inc. announces significant advancements in battery safety with its new 6,000-cycle home solar battery, which has successfully met UL safety standards set by Underwriters Laboratories. This breakthrough utilizes lithium iron phosphate chemistry, ensuring nonflammable characteristics, and significantly enhances battery life by 50% compared to previous models. The NV14 system features a high storage capacity of 14.4 kWh and can be expanded to 24.0 kWh. This innovation positions NeoVolta as a leader in residential energy storage, providing safety and reliability for homeowners.