NeoVolta Signs Asset Purchase Agreement for Neubau Energy's Advanced Battery Platform; Anticipates Immediate Boost to Revenues and Gross Margins

Acquisition Announcement: NeoVolta Inc. has entered into an asset purchase agreement to acquire strategic assets from Neubau Energy, with the deal expected to close by October 15, 2025. This acquisition aims to enhance NeoVolta's market presence in residential energy storage.

Leadership Changes: Following the acquisition, NeoVolta appointed Neubau executives Amany Ibrahim as COO and Thomas Enzendorfer as CTO, while previous COO Michael Mendik transitions to Chief Product Officer, strengthening the company's leadership team.

Technological Integration: The acquisition will integrate Neubau's advanced battery technology and modular systems, which promise significant reductions in deployment costs and installation times, thereby expanding NeoVolta's market opportunities.

Financial Terms: NeoVolta has agreed to pay $500,000 in cash and 200,000 shares of restricted common stock for Neubau's assets, along with potential future royalty payments and additional shares based on revenue milestones from the sale of Neubau's products.