NeoVolta Inc. - NEOV STOCK NEWS

NeoVolta Inc. has developed a patent-pending technology that converts a backup generator's 240-volt AC power to DC, enhancing the efficiency of its NV14 energy storage system during power outages. This integration allows customers to utilize both AC generators and DC solar inputs without needing extra batteries or complex modifications, making it a cost-effective solution. The NV14 system boasts a 14.4 kWh capacity and is expandable to 24.0 kWh. Recognized for its safety, NeoVolta's innovation aims to provide homeowners with reliable backup protection.

NeoVolta Inc. (NEOV) has secured $1,327,339 in purchase orders from PMP Energy as part of a three-year distribution agreement potentially worth $15 million. This includes a recent reorder of $425,000 in March 2021. NeoVolta’s energy storage solutions support homeowners' utility savings and provide reliable backup power, addressing the growing demand amid severe power outages. The company has established 40 certified installers across several states and expanded its manufacturing capabilities to meet rising demand, reflecting a trend of six consecutive quarters of record growth in the home energy storage market.

NeoVolta Inc. has partnered with Sungage Financial to offer affordable financing options for its energy storage solutions, allowing homeowners to finance systems over 10 years at rates as low as 0.99%. Sungage provides up to $50,000 for storage batteries, including site preparation costs. This collaboration aims to increase accessibility to NeoVolta’s products in response to the growing demand for home energy storage amid rising power outages. The NV14 energy storage system, known for its superior safety and performance, continues to expand its market reach in California and neighboring states.

NeoVolta Inc. (OTCQB: NEOV) reported a remarkable 213% revenue increase for the six months ending December 31, 2020, achieving $2,545,922 from contracts, up from $812,954 in the prior year. This growth is attributed to an expanded network of wholesale dealers and installers since July 2019. The company has not faced negative impacts from COVID-19 on its financial performance. Highlights include the appointment of General James F. Amos to its Board and expansion into Northern California, along with recognition of the NV14 storage system as a leading product.

NeoVolta Inc. (OTCQB: NEOV) has launched a new manufacturing facility in Poway, California, aimed at doubling production and shipping efficiency. The 15,400 square-foot site features enhanced logistics capabilities, including four shipping docks and increased space for finished goods. The facility supports growing demand for NeoVolta's energy storage systems, including the NV14, which has a high storage capacity and safety features. Additionally, a three-year deal with PMP Energy is set to generate up to $15 million in orders, enhancing market reach.

NeoVolta Inc. (OTCQB:NEOV) emphasizes the safety of its home energy storage systems utilizing lithium iron phosphate (LiFePO₄) battery chemistry, which is non-toxic and heat-tolerant. Unlike traditional lithium ion batteries, which pose risks of thermal runaway and combustion, NeoVolta's systems are engineered for safety and performance, boasting a high capacity of 14.4 kWh expandable to 24.0 kWh. The NV14 has received accolades as one of Solar Power World's top storage products for its reliability and efficiency.

NeoVolta has introduced its NV14 Home Backup Power System amid a national crisis due to a severe winter storm affecting 25 states, leaving millions without power. The NV14 battery storage system features a capacity of 14.4 kWh, expandable to 24.0 kWh, and utilizes islanding technology to keep solar systems operational during grid outages. The system is designed to reduce dependence on the grid, ensuring safety and comfort during power failures. NeoVolta's NV14 has been recognized as one of Solar Power World’s top storage products for two consecutive years.

NeoVolta Inc. (OTCQB: NEOV) announced its NV14 inverter, capable of charging or discharging 7680 watts of continuous power, exceeding competitors' limits. This allows for powering up to fourteen 120-volt circuits simultaneously, addressing household energy demands efficiently. The NV14 features a 14.4 kWh battery system that can expand to 24 kWh and utilizes safe lithium iron phosphate chemistry. It has been recognized as one of Solar Power World’s top storage products for two consecutive years, offering homeowners a reliable energy solution during outages.

NeoVolta announces that its Smart Energy Storage Solutions are compatible with all rooftop solar systems, enhancing consumer choice and reliability. The NV14 storage system can integrate with both AC and DC solar panels, making it suitable for retrofitting existing systems. Utilizing lithium iron phosphate chemistry, it ensures safety and longevity. The NV14 has a base capacity of 14.4 kWh, expandable to 24 kWh. NeoVolta's distribution network has grown to 39 certified installers across California, Nevada, Arizona, and Utah, solidifying its market position and product recognition as a top storage solution.