NeoVolta Ramps Production Capability to 10,000+ Home Energy Storage Systems Per Year

300% increase in manufacturing capacity will supply California statewide product rollout beginning summer 2019

SAN DIEGO, June 06, 2019 (GLOBE NEWSWIRE) — NeoVolta Inc., a manufacturer of residential energy storage systems, co-located to a new 21,150ft² San Diego production facility that allows for an increased production capability of 300% to 10,000+ units annually. The company’s expansion in manufacturing will facilitate a California statewide rollout of the company’s lithium-iron home battery beginning in summer 2019.

“This move will be a major upgrade in our production capability allowing us to aggressively grow our dealer network throughout California. By implementing Lean Six Sigma manufacturing to eliminate waste and improve efficiencies, we expect to reduce cost and improve margin while scaling up production. Our goal is to have this new line fully operational by early August 2019,” said Brent Willson, CEO of NeoVolta. “It comes at a time when California has 970,000 solar installations and counting, already generating close to 20 percent of the state’s electricity. For each residential installation, an energy storage system such as the NV14 offers more reliable power and a significant cost savings.”

NV14 is a complete home energy management system, designed with a 14.4 kWh rechargeable lithium iron phosphate battery, 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, homeowners can protect themselves against blackouts, avoid expensive peak demand electricity rates charged by utility companies at night when solar panels aren’t producing, and move towards energy independence. Fueled by high utility rates, ample sunshine and $830 million in State sponsored energy storage rebates, consumer demand for solar batteries in California is high.

Grant Magoffin, Director of Operations at SolarTech Energy Systems, a leading Southern California solar installer, explained, “One of the major challenges we face in the energy storage market is product availability. We have experienced prolonged shortages with both Tesla and LG Chem products, which made it difficult to meet customer expectations. In some cases, we have had customers waiting well over 6 months for their batteries. Now with the addition of the NeoVolta product line, we are really excited to have access to a more consistent supply chain that can meet our customer needs.”

Dealers interested in carrying NeoVolta’s residential home energy storage product line can apply at:

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.

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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.