NeoVolta Adds $555,700 in Purchase Orders

NeoVolta’s Distributor, PMP Energy, Sees Continued Demand for NeoVolta Products

San Diego, CA, August 3, 2022 – NeoVolta Inc. (NASDAQ: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, today announced purchases by PMP Energy over the past two months valued at $555,700. These purchase orders are part of a three-year exclusive distribution agreement signed by the two companies in 2019. Under the agreement, PMP Energy provides dealers with training and certification to install NeoVolta energy storage systems in homes and other locations.

“These recent purchases from PMP Energy indicate strong demand for NeoVolta’s energy storage products,” said Brent Willson, CEO of NeoVolta Inc. “Our all-in-one storage systems deliver safe, reliable backup power during an outage, when you need it most. And during normal conditions, they are the perfect solution for skyrocketing utility costs.”

The company now has more than 50 certified installers in California alone, with installations also expanding in Nevada, Arizona, Utah, Oklahoma, Georgia, Florida, Texas, and Colorado. In January 2022, the NeoVolta NV14 system was recognized as one of Solar Power World’s Top Solar Storage Products for the third year in a row. And in April 2022, the NV14 was named one of the most affordable solar batteries in the U.S. in EnergySage’s latest semiannual Solar Marketplace Intel Report.

Dan Briggs, PMP Energy’s President and CEO, said, “NeoVolta offers high-performance, innovative energy storage systems, and we are extremely proud to be their distributor. As homeowners across the Sun Belt continue to discover the advantages of NeoVolta, we expect continued demand.”

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: email us: [email protected] or call us: 858-239-2029


Forward-Looking Statements

Certain statements in this news release constitute forward-looking information within the meaning of applicable securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “believes,” “anticipates,” “budget,“ scheduled,” “estimates,” “forecasts,” “intends,” “plans,” and variations of such words and phrases, or by statements that certain actions, events or results “may,” “will,” “could,” “would,” or “might,” “be taken,” “occur,” or “be achieved.” Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, expected growth, results of operations, performance, industry trends and growth opportunities. While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements.