NeoVolta Announces Remarkable Q4 Sales Surge with Near Six-Figure Gross Revenues Over Last Six Weeks

San Diego, November 13, 2023 (GLOBE NEWSWIRE)* — NeoVolta Inc., NASDAQ NEOV a leading manufacturer of Smart Energy Storage Solutions based in San Diego and recognized as Solar Power World’s Top Solar Storage Products for three consecutive years, proudly reports a robust performance with gross revenues nearing $1,000,000 in the first six weeks of Q4 2023. This marks an impressive 60% growth year over year.

Brent Willson, CEO at NeoVolta Inc., stated, “We are witnessing a strong rebound in revenue as the impacts of COVID-19 recede, and delays from installer implementation post California’s Net Energy Metering 3 (NEM3) are overcome. New orders are expected to gain increased momentum in the current quarter following three consecutive quarters of moderate growth. Additionally, NeoVolta has experienced a significant increase in solar installer applications in the past two months.”

NeoVolta is actively embracing new installers as part of a successful direct marketing campaign that is gaining traction. Willson remarked, “We recognize that independent solar dealer/installers had to adapt to the new NEM3 environment, and we welcome them as certified installers of NeoVolta home energy storage solutions - a growing necessity in home solar energy solutions.”

NeoVolta's NV14 system, recognized as one of Solar Power World’s Top Solar Storage Products for three years running, continues to make waves. The NV14 was also acknowledged in April 2022 as one of the most affordable solar batteries in the U.S. in EnergySage’s latest semi-annual Solar Marketplace Intel Report.

About NeoVolta:

NeoVolta specializes in designing, developing, and manufacturing advanced energy storage systems for both residential and industrial use. Engineered with lithium iron phosphate (LiFe(PO4)) battery chemistry, the residential-focused NeoVolta NV14 boasts a solar-rechargeable 14.4 kWh battery system, a 7,680-Watt inverter, and a web-based energy management system with 24/7 monitoring. With a 6,000-cycle battery life—one of the longest on the market—the NV14 offers 16.5 years of useful life. The NV14 has passed the product safety standards set forth by Underwriters Laboratories (UL) for battery energy storage safety testing.

Forward-Looking Statements:

Certain statements in this release are forward-looking statements within the meaning of applicable securities laws, involving risks and uncertainties. NeoVolta disclaims any obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this release. For more information on the associated risks, please refer to NeoVolta’s filings with the Securities and Exchange Commission (SEC).

NeoVolta Inc., a leading solar battery storage company based in San Diego (Nasdaq: NEOV), has established a strategic partnership with Mosaic, a sustainable home improvement finance platform.

This collaboration aims to provide more homeowners with accessible financing options for solar energy storage, thereby mitigating the impacts of power outages and enhancing energy resilience.

Mosaic, renowned for funding $14 billion in loans for residential solar and sustainable home improvements, will extend its financing options to cover NeoVolta Energy Storage System (ESS) installations, whether standalone or integrated with solar panels. Interested homeowners can now incorporate NeoVolta's energy storage technology into their quotes, streamlining the process for those seeking energy independence.

To apply for financing, homeowners can start by discussing costs with their local installers and then proceed with a straightforward online application. Mosaic offers competitive Annual Percentage Rates (APRs) and affordable monthly payments. Notably, the financing solution comes with several advantages for homeowners, including no prepayment penalties, hidden costs, or swipe fees.

Brent Willson, CEO of NeoVolta, expressed enthusiasm for the partnership, stating, "Mosaic's financing options will allow more homeowners to enjoy years of utility savings and long-lasting blackout protection with NeoVolta's energy storage. Our solar storage solutions are a smart investment for homeowners, and it's never been easier to get started. With Mosaic financing options, NeoVolta's market is opening up to a much bigger audience. We're thrilled to partner with a world-class fintech platform for sustainable home improvements."

This partnership is expected to bolster NeoVolta's position in the rapidly expanding home energy storage market and address the increasing demand for residential backup power solutions, particularly in response to environmentally-driven power outages nationwide.

NeoVolta is recognized for its commitment to safety and performance, utilizing lithium-iron phosphate battery chemistry in its flagship NV14 energy storage system. This chemistry is nonflammable and nontoxic, offering a secure and eco-friendly energy storage solution. The NV14, renowned for its compatibility with both new and existing solar systems, has received accolades as one of Solar Power World's top storage products for four consecutive years.

About NeoVolta: NeoVolta designs, develops, and manufactures advanced energy storage systems for residential and industrial use. These storage solutions feature lithium iron phosphate (LiFe(PO4)) battery chemistry, renowned for its cleanliness, non-toxicity, and non-flammability. NeoVolta's residential-focused NV14 system includes a solar-rechargeable 14.4 kWh battery, a 7,680-Watt inverter, and a web-based energy management system with 24/7 monitoring. Notably, the NV14 boasts a 6,000-cycle battery life, among the longest available, equating to 16.5 years of useful life based on daily full charge and discharge cycles. The NV14 has successfully met the product safety standards established by Underwriters Laboratories (UL) for battery energy storage safety testing.

For additional information, please visit: NeoVolta Website, contact via email at IR@NeoVolta.com, or reach out by phone at 858-239-2029.

About Mosaic: Mosaic stands as a pioneering fintech platform specializing in sustainable home improvements. With extensive strategic partnerships and a nationwide network of contractors, Mosaic empowers homeowners to unlock greater savings, resilience, and value in their homes. Founded in 2010, Mosaic has been a trailblazer in clean energy lending, continually offering innovative financing solutions for various sustainable upgrades, including solar, battery storage, heat pumps, and more. Mosaic's impressive track record includes doubling funding volume in 2022 and disbursing $14 billion in loans to date. These initiatives have helped nearly 400,000 households enhance sustainability and reduce utility costs. Mosaic's financing options facilitate the infusion of billions of dollars annually into high-quality ESG assets, contributing to the vision of achieving 100% clean energy for all.

To learn more about Mosaic, please visit Mosaic's Website.

NeoVolta to Enter Russell Microcap® Index

POWAY, Calif., June 13, 2023 (GLOBE NEWSWIRE) -- NeoVolta (NASDAQ: NEOV), a leading solar battery manufacturer specializing in smart residential energy storage solutions, is set to become a constituent of the Russell Microcap® Index as part of the 2023 Russell Indexes annual reconstitution. This inclusion will take effect upon the opening of the U.S. market on June 26, 2023.

Membership in the Russell Microcap® Index, with a one-year term, provides automatic inclusion in relevant growth and value-style indexes.

FTSE Russell, the entity behind Russell Indexes, determines index membership based on objective market capitalization rankings and style attributes. These indexes serve as benchmarks for approximately $16 trillion in assets, making them crucial reference points for investment managers and institutional investors.

Brent Willson, CEO of NeoVolta, expressed the company's pride in joining the Russell Microcap® Index, stating, "We're honored to be part of the Russell Microcap® Index this year, which stands as one of the most prestigious performance benchmarks for emerging U.S. companies. Having been listed on NASDAQ just last year, we consider this as validation of NeoVolta's expanding footprint in the solar and energy storage sectors."

Incorporation into the Russell Microcap® Index signifies a significant achievement for NeoVolta, underscoring the market's recognition of the company's growth within the solar energy storage industry and further establishing NeoVolta's influence and prominence within the broader energy sector.

About NeoVolta: NeoVolta designs, develops, and manufactures advanced energy storage systems tailored for both residential and industrial applications. These storage solutions utilize lithium iron phosphate (LiFe(PO4)) battery chemistry, known for its cleanliness, non-toxicity, and non-flammability. The residential-focused NeoVolta NV14 boasts a solar-rechargeable 14.4 kWh battery system, a 7,680-Watt inverter, and a web-based energy management system with 24/7 monitoring. Remarkably, the NV14 features a 6,000-cycle battery life, one of the industry's longest, equating to 16.5 years of useful life based on daily full charge and discharge cycles. The NV14 has successfully met the product safety standards outlined by Underwriters Laboratories (UL) for battery energy storage safety testing.

About FTSE Russell: FTSE Russell is a renowned international index provider, delivering benchmarking, analytics, and data solutions to investors worldwide. The organization calculates thousands of indexes that gauge and benchmark markets and asset classes across over 70 different countries, covering 98% of the global investable market. For more than three decades, leading asset owners, managers, ETF providers, and investment banks have placed their trust in FTSE Russell indexes to measure their investment performance and create ETFs, structured products, and index-based derivatives.

For additional information, please visit NeoVolta's Website, contact via email at IR@NeoVolta.com, or reach out by phone at 858-239-2029.