​NeoVolta Announces Vision for Rapid Growth in CEO Ardes Johnson’s Letter to Shareholders

New CEO Ardes Johnson Details Bold Strategies for Immediate Market Expansion and Innovation in Energy Storage

SAN DIEGO, CA, June 18, 2024NeoVolta Inc. (NASDAQ: NEOV), a leading innovator in advanced energy storage systems, today announced a compelling shareholder letter from newly appointed CEO Ardes Johnson. The letter outlines Johnson’s strategic initiatives aimed at driving rapid growth and seizing opportunities in the residential and commercial energy storage markets.

Recent Achievements under Ardes Johnson’s Leadership:

  • National Sales Team Formation: NeoVolta has successfully assembled a national sales team targeting key renewable energy distribution centers, ensuring a robust presence across the U.S.
  • Strategic Partnerships Initiated: The company has begun collaborations with leading solar installers in California, Nevada, and Florida, positioning itself to capture a larger market share.
  • Advanced Conversations for Next-Gen Systems: Johnson initiated discussions with partners to develop the next generation of NeoVolta’s energy storage systems, setting the stage for future innovation.

Upcoming Strategic Moves for Rapid Growth:

  • Expansion into Top U.S. Markets: NeoVolta is actively expanding into high-potential regions such as Hawaii, Texas, Florida, and Puerto Rico, with regionally based sales teams to maximize reach and service.
  • Vendor Approval with Major Leasing Companies: A key initiative to make NeoVolta’s products more accessible and affordable, driving increased adoption and sales in the residential energy storage market.
  • Entry into the Commercial Market in 2025: Leveraging robust R&D to create complementary solutions tailored for the commercial sector, expanding NeoVolta’s market footprint.
  • Launch of Virtual Peaker Solution: Addressing the growing demand for storage-only solutions from utilities and aggregators, positioning NeoVolta at the forefront of energy storage innovation.

CEO Ardes Johnson shared his vision with enthusiasm, stating, “We are poised for rapid growth. Our strategic initiatives are designed to empower consumers and meet the evolving needs of utilities, driving both innovation and market expansion.”

Johnson also expressed his gratitude to NeoVolta’s Founder and CTO, Brent Willson, and the entire team for their unwavering dedication and contributions to the company’s success.

For more information on NeoVolta’s strategic initiatives and future plans, review the full letter from CEO Ardes Johnson here.

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: NeoVolta.com 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.