NeoVolta and PMP Energy Continue Distribution Agreement Worth Up To $15 Million
San Diego, CA, March 1, 2022 – NeoVolta Inc. (OTCQB: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, today announced purchases by PMP Energy valued at $575,900 were received by NeoVolta during the past three months. These purchase orders are part of a three-year exclusive distribution agreement signed by the two companies in 2020. In exchange for receiving a minimum of up to $15 million in purchase orders, PMP Energy will provide dealers with training and certification to install NeoVolta energy storage systems in homes and other locations. PMP Energy has totaled nearly $2 million worth of purchase orders to date.
“The strategic alliance we’ve forged with PMP Energy is a major catalyst in our expansion plans,” said Brent Willson, CEO of NeoVolta Inc. “We’re excited to see these substantial orders, which reflect the continued success of our distribution agreement.”
NeoVolta now has more than 50 certified installers in California alone, with installations also taking place in Nevada, Arizona, Utah, Oklahoma, Georgia, Florida, Texas, and Colorado. In January 2022, the NeoVolta NV14 system was named one of Solar Power World’s Top Solar Storage Products for the third year in a row.
Dan Briggs, PMP Energy’s President and CEO, said, “We are delighted to partner with NeoVolta in their rollout across the Sun Belt. We’re expecting another year of growth based on their vision and their superior product.”