NeoVolta Enters Into Asset Purchase Agreement for Neubau Energy’s Next-Generation Battery Platform; Expects Transaction to Be Immediately Accretive to Revenues and Gross Margins

Neubau executives join NeoVolta as Chief Operating Officer and Chief Technology Officer

SAN DIEGO, Oct. 07, 2025 (GLOBE NEWSWIRE) — NeoVolta Inc. (NASDAQ: NEOV) entered into on October 1, 2025 an asset purchase agreement for the purchase of strategic assets of Neubau Energy pursuant to its letter of intent announced on September 10, 2025 [link]. The acquisition is expected to close by October 15, 2025. Concurrently, NeoVolta hired Neubau executives, naming Amany Ibrahim as chief operating officer and Thomas Enzendorfer as chief technology officer. Michael Mendik, the company’s previous chief operating officer, will continue with the company and serve as its chief product officer.

“Merging Neubau’s talent and next-gen battery manufacturing platform is a significant milestone in executing our growth multi-channel strategy. As the transaction accelerates our residential energy storage market penetration, we expect it to be immediately accretive to revenue and gross margins,” said Ardes Johnson, Chief Executive Officer of NeoVolta. “Operational integration is underway, and Neubau’s revolutionary 30-minute installation systems are already available for order under the NeoVolta brand. Also, Neubau’s technology portfolio and manufacturing know-how are expected to provide us tariff-free access to advanced battery technology. At Neubau, Amany has spearheaded strategy, product innovation, and market expansion and Thomas led manufacturing and distribution. We are excited they will strengthen our team and support our aggressive growth plans.”

Ibrahim said, “Our entire team is excited to join NeoVolta and take on leadership roles that enable us to accelerate the adoption of our technology, which delivers the first truly modular residential battery system with the highest energy density in its class. Our modular systems drive dramatic reductions in deployment costs, making the entire value chain more efficient.”

Transaction Summary  

The acquisition is expected to accomplish the following:

• Strengthen the Team by integrating Neubau’s executives into technology and operational leadership positions.
• Expand Market Opportunity by offering sub-30-minute installation times, opening new installer networks and reducing typical deployment costs by 75%.
• Integrate New Technology with Neubau’s high energy density residential energy storage system (ESS) modules with truly modular architecture.
• Mitigate Tariffs by reducing the impact of 2026 battery tariffs.
• Increase the IP Portfolio by adding patents covering advanced modular battery architecture.
• Broaden Installer Base with specialized technicians to any licensed electrician.

For the purchase of certain assets of Neubau, NeoVolta

• Paid initial consideration of $500,000 cash and 200,000 shares of restricted common stock;
• Agreed to provide unit royalty payments of $10 each on sales of neuClick Battery Modules for a period of three years; and
• Agreed to issuing up to an additional 4.0 million shares of NeoVolta restricted common stock, which become issuable to Neubau upon achieving certain revenue milestones from the sale of products that utilize Neubau’s neuClick Battery Modules prior to December 31, 2028.

Amany Ibrahim — Chief Operating Officer, NeoVolta, Inc.

Amany Ibrahim led strategy, product innovation, and market expansion as chief strategy officer at Neubau Energy. She co-founded the company’s next-generation modular residential battery platform, positioning it to scale in home energy storage. She serves on Neubau Energy’s board of directors, and she brings over a decade of operational growth experience in energy and infrastructure.

Thomas Enzendorfer — Chief Technology Officer, NeoVolta, Inc.

Thomas Enzendorfer served as chief executive officer of Neubau Energy Inc. in California and managing director of Neubau Energy GmbH in Vienna, bringing more than a decade of leadership across solar manufacturing and distribution. Previously, he was Director of Solar Energy at Fronius USA and later served as President at Soligent Distribution LLC.

About Neubau Energy

Founded in 2023, Neubau Energy has developed one of the industry’s most installer-friendly residential battery system with the highest energy density in its class. The company’s truly modular architecture, protected by over a dozen patents, integrates batteries, inverter, battery management, and communications into a single unit that one person can install in under 30 minutes. The company’s experienced team includes veterans from the energy storage, solar, and automotive industries who will continue driving innovation in operational and technology leadership roles as part of the combined organization. Neubau’s Austrian manufacturing base provides a tariff-advantaged platform for the U.S. residential storage market. For more information visit: www.neubauenergy.com

About 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. For more information visit: www.neovolta.com

Forward-Looking Statements

This release contains 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. Forward-looking statements include, without limitation, statements regarding the acquisition of Neubau Energy assets, expected financial impacts, market opportunities, operational benefits, and anticipated closing timeline. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, the ability to complete definitive documentation, satisfaction of closing conditions, integration challenges, market acceptance of combined offerings, realization of anticipated synergies, and other risks detailed in NeoVolta’s SEC filings. The company undertakes no obligation to update forward-looking statements except as required by law. For additional risk factors, see Item 1A “Risk Factors” in the Company’s most recent Form 10-K and subsequent Form 10-Q filings with the SEC.

Contacts

Investors David Barnard, Alliance Advisors IR dbarnard@allianceadvisors.com

415-433-3777

Media Email: press@neovolta.com

800-364-5464