NeoVolta Expands to Dedicated Production Facility

Manufacturing and Production Efficiency Expected to Double at New Facility

San Diego, CA, March 9, 2021 – NeoVolta Inc. (OTCQB: NEOV) – NeoVolta, manufacturer of Smart Energy Storage Systems, has opened a new dedicated manufacturing location in Poway, just north of San Diego. This state-of-the-art, energy-efficient facility with more than 15,400 square feet of space will support the company’s rapid growth by providing double the production and shipping efficiency.

The complex features four shipping and receiving docks, two at ground level and two above ground. This setup significantly increases efficiency. The floor plan has four times the space for finished goods, which can now be kept separate from production and shipping areas. Exterior storage is also available if needed.

The additional space at the facility will accommodate automation of labor-intensive tasks such as packaging and wire cutting. NeoVolta will also have the option of future expansion at the site.

“We are thrilled to have outgrown our previous co-located home,” said NeoVolta CEO Brent Willson. “This facility represents a major investment in our future, and we could not be more proud of it.”

The new site increases NeoVolta’s capability to support growing demand for its advanced home energy storage systems. In the second half of 2020, the company expanded its installation network to Northern California, Nevada, Arizona, and Utah. In August 2020, NeoVolta signed a three-year exclusive distribution agreement with PMP Energy. In exchange for a minimum of up to $15 million in purchase orders, PMP Energy will provide dealers with training and certification to install NeoVolta storage systems in homes and other locations.

NeoVolta’s flagship NV14 energy storage system has a very high storage capacity of 14.4 kilowatt-hours, expandable to 24.0 kWh with the optional NV24 battery—without the expense of a second inverter. The system’s inverter discharges 7.7 kilowatts of instantaneous power, more than most competitors in its class. Another key feature is safety: NeoVolta’s lithium iron phosphate battery chemistry is the nonflammable and nontoxic alternative to lithium ion.

For its safety, high performance and compatibility with any solar system, new or existing, the NV14 has been named one of Solar Power World’s top storage products two years in a row.

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: NeoVolta.com email us: Contact: Kate Countryman [email protected]  Or call us: 858-239-2349

 

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. Although the Company 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. The Company 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 Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company 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.