Launches Three-Year Exclusive Distribution Agreement in Exchange for Minimum of up to $15 Million in Purchase Orders
San Diego, CA, September 01, 2020 – NEOVOLTA INC. (OTCQB: NEOV) –NeoVolta,manufacturer of patent-pending Smart Energy Storage Systems, announces PMP Energy’s initial orders worth $473,000. PMP Energy recently signed a three-year exclusive distribution agreement, in exchange for a minimum of up to $15 million in purchase orders, to provide dealers with training and certification to install NeoVolta systems in homes.
“Since the start of our relationship with NeoVolta, our intention has been to help the Company grow while maintaining the high standards of quality and service that Brent and his team demand,” said Dan Briggs, PMP Energy’s President and CEO, and a member of NeoVolta’s Board of Advisors. “To date we are proud to have trained and certified installers in 2 States plus the territory of Puerto Rico. The response to the product has been tremendous and we believe that the success thus far is just scratching the surface of what is to come for PMP Energy and NeoVolta.”
NeoVolta systems deliver significant savings by storing solar energy for use in the evening when peak utility rates are often twice as high. And in the event of a blackout, the system will automatically disconnect from the grid and seamlessly power the critical loads needed to keep a home safe, comfortable, and connected during the crisis.
The NV14 battery system has a very high capacity of 14.4 kilowatt-hours and discharges 7.7 kilowatts of instantaneous power, more than most mainstream competitors. The NV14’s capacity can be amplified to 24.0 kWh by pairing it with the NV24 add-on—without the expense of installing a second inverter. Furthermore, NeoVolta’s lithium iron phosphate technology is a safer and longer-lasting alternative to ordinary lithium ion batteries.
For its high capacity and safe, long-lasting battery, the NV14 was named one of Solar Power World’s Top Solar Storage Products for 2019.
“Thanks to our strategic collaboration with PMP Energy, more homeowners are starting to reap the benefits of NeoVolta energy storage systems,” said CEO Brent Willson. “PMP Energy is vital to our mission of delivering energy resilience and utility savings to American households.”