NeoVolta Spotlighted in San Diego Business Journal

Cutting-Edge Manufacturer Is Positioned for Home Solar Storage Boom

San Diego, CA, February 26, 2020NEOVOLTA INC. (OTCQB: NEOV) – NeoVolta, a manufacturer of home solar energy storage systems, has been profiled by the San Diego Business Journal. The article titled “Co. Sees Solar Storage Boom on the Way” appeared in the February 2 edition of the weekly. The San Diego–based company was also the subject of a recent article in Greentech Media.

NeoVolta’s storage systems capture the energy generated by rooftop panels and save it in a battery for later use. The stored energy can be used in the evening, when utility rates are highest, allowing homeowners to achieve significant savings on their monthly bills. These systems also provide immediate backup power in case of a blackout, keeping refrigeration, computers, lights, and televisions powered. Home resilience has taken on new urgency in California after a string of massive power shutoffs due to wildfire risks.

The San Diego Business Journal noted that solar storage, while still in its infancy, is on the verge of going mainstream. According to Brad Heavner of the California Solar & Storage Association, “The storage market is absolutely about to explode. It’s only a question of when.”

NeoVolta has ramped up its manufacturing capacity to meet the expected demand for home solar storage. After raising $3.5 million through an initial public stock offering in May 2019, the company moved to a 21,150-square-foot manufacturing facility and began rolling out the NV14 home energy storage system across Southern California. The system stores 14.4 kilowatt-hours of energy, enough to power critical loads for a typical home overnight. Along with this storage high capacity, the battery can charge or discharge 7.7 kilowatts of instantaneous power, more than most competitors in its class—all at a very competitive price.

NeoVolta CEO Brent Willson told the Journal, “The price per kilowatt beats all my competition hands down. It’s not even close.”

The NV14 was named one of Solar Power World’s “2019 Top Solar Storage Products.” Solar Power World recognized the system for its innovative lithium iron phosphate battery, which is safer and longer-lasting than ordinary lithium ion batteries. Another key feature cited was the NV14’s expandability to 24.0 kilowatt-hours by adding a second battery—without the expense of a second inverter. This NV24 add-on is one of the highest-capacity storage systems in the home solar market. NeoVolta can also connect with any residential solar installation, AC or DC or both.

Sunspired Solar of San Diego recently installed its first NeoVolta storage system. Speaking to the Journal, company president and CEO Derrick Breaux gave the product high marks for technology and price.

The article also described how CEO Brent Willson, a former Colonel in the Marine Corps, became involved in solar storage technology. As base commander at Camp Smith in Hawaii, Willson directed the installation of a solar systems to provide reliable backup power. After retiring from the military, he set out to create a residential version that combined high performance with a lower price point.

Having established NeoVolta in Southern California, Willson expects installations to begin in Northern California in mid-2020.

“We couldn’t be more thrilled that NeoVolta is capturing media attention,” said Willson. “The residential solar storage market continues to post record growth, and our team is ready to meet the demand.”

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: 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.