NeoVolta Secures Five-Year Supply Agreement with Inverter Manufacturer
Provides Strategic Stability to Supply Chain
SAN DIEGO, Sept. 21, 2021 (GLOBE NEWSWIRE) — NeoVolta Inc. (OTCQB: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, announced today that it has reached an exclusive five-year supply agreement for the inverter used in its systems. By locking in a stable supply partner, NeoVolta has positioned itself to meet the rapid growth in demand for its solar batteries.
NeoVolta’s inverter can charge or discharge 7,680 watts (W) of continuous power—about 50% more power than most systems in its class. With this superior inverter, the NV14 can typically power up to fourteen 120 V circuits, whether the grid is on or off.
And with its very high storage capacity of 14.4 kilowatt-hours, the NV14 can deliver this power for longer than other competitors. The NV14’s capacity is expandable to 24.0 kWh with the optional NV24 battery—without the expense of a second inverter.
“We are excited to reach this agreement with our inverter manufacturing partner, who shares our commitment to performance and reliability,” said Brent Willson, CEO of NeoVolta. “This move will ensure the strength of our product as we continue to expand the NeoVolta brand.”
NeoVolta storage systems are designed for safety and performance. They provide reliable backup power when the grid goes down and can help reduce utility bills under normal conditions. Their lithium iron phosphate chemistry is a noncombustible and nontoxic alternative to ordinary lithium ion batteries. NeoVolta storage is compatible with any residential solar system—new or existing, AC or DC. For two years in a row, the NV14 has been named one of Solar Power World’s top storage products.
About NeoVolta – NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage systems capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the 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. By storing energy instead of sending it back to the grid, consumers can protect themselves against blackouts, avoid expensive peak demand electricity rates charged by utility companies when solar panels aren’t producing, and get one step closer to grid independence. Customers can expand the NV14’s capacity to an industry-leading 24.0 kWh with the optional NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is working on other industry leading improvements that will be announced soon.
For more information visit: http://www.NeoVolta.com email us: IR@NeoVolta.com or call us: 858-239-2029
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.
