NEOV

Partnership Announcement: NeoVolta Inc. has partnered with Virtual Peaker to enhance grid resilience and promote the use of distributed energy resources through AI-driven energy management solutions.

Company Mission: The collaboration aims to empower homeowners and utilities by optimizing battery storage systems, aligning with NeoVolta's commitment to advancing clean energy storage technology.

NeoVolta's Loan Application: NeoVolta Inc. has successfully completed phase two of its $300 million loan application with the U.S. Department of Energy, moving towards a conditional commitment that includes negotiating terms and site visits for expanding U.S. manufacturing of energy storage solutions.

Job Creation and Supply Chain Strengthening: The project aims to create over 200 jobs by onshoring battery cell and inverter production, supporting the domestic energy storage supply chain while addressing the anticipated increase in electricity consumption driven by renewable energy.

New COO Appointment: NeoVolta Inc. has appointed Michael Mendik, PhD, MBA, as its new Chief Operating Officer, bringing over two decades of experience in international business management and renewable energy.

Role and Responsibilities: In his role, Mendik will oversee operations including sales, marketing, and product management, focusing on driving operational efficiencies and enhancing customer experience to support the company's growth initiatives.

New Appointment: NeoVolta Inc. has appointed Michael Mendik as its new Chief Operating Officer.

Previous Experience: Mendik previously worked at GoodWe as Country Manager and General Manager for North America.

Collaboration Announcement: NeoVolta Inc. has signed a non-binding letter of intent with Expion360 Inc. to potentially collaborate on developing a state-of-the-art battery manufacturing facility and innovative lithium-ion battery products, aiming to enhance American-made energy storage solutions.

Funding and Compliance Efforts: NeoVolta is progressing with a $250 million loan application from the U.S. Department of Energy to establish a manufacturing facility that meets domestic content requirements, which are part of the bipartisan Inflation Reduction Act aimed at promoting American production in the energy sector.

Loan Application and Manufacturing Plans: NeoVolta Inc. has completed phase one of its $250M loan application with the U.S. Department of Energy to support the establishment of a manufacturing facility for Battery Electric Storage Systems, which will create over 150 high-paid jobs and integrate the supply chain.

Commitment to Domestic Production: The company aims to enhance U.S. manufacturing in clean energy solutions, responding to domestic content requirements established by the Inflation Reduction Act, while also expanding into inverter production and regional support centers to meet national demand.

NeoVolta's Installation in Puerto Rico: NeoVolta Inc. partnered with Barrio Eléctrico to successfully install the first NV24 battery storage systems in Puerto Rico, marking Barrio Eléctrico's 100th installation and demonstrating a commitment to sustainable energy solutions supported by the U.S. Department of Energy.

Company Expansion and Commitment: NeoVolta is expanding its operations across the U.S. and Puerto Rico, focusing on meeting solar storage needs and driving progress in renewable energy through innovative partnerships and advanced technology.

NeoVolta's Partnership Announcement: NeoVolta Inc. has secured a $1.4 million deal with National Renewable Energy Partners (NREP) to expand its dealer network into states like Ohio, Texas, and Connecticut, reflecting the increasing demand for energy storage solutions in the residential sector.

Commitment to Sustainable Energy: Both companies emphasize their commitment to advancing solar energy solutions and empowering homeowners with reliable renewable options, as they aim to drive the clean energy revolution forward amidst growing interest in local energy storage.

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NeoVolta's Partnership with Barrio Eléctrico: NeoVolta Inc. has been selected as a strategic partner for Barrio Eléctrico to expand residential solar and energy storage in Puerto Rico, aiming to install systems in up to 1,000 homes to enhance energy security.

Funding and Impact: The initiative is supported by a $21 million grant from the Department of Energy, focusing on providing resilient energy solutions to vulnerable communities in Puerto Rico, contributing to the island's energy independence and resilience.

NeoVolta Secures Funding: NeoVolta Inc. has successfully obtained a $5 million Line of Credit from National Energy Modelers, Inc., enhancing its working capital without diluting shareholder equity.

Strategic Growth Plans: The funding will enable NeoVolta to pursue growth opportunities in the residential energy sector while addressing investor concerns regarding potential dilution from its registration statement.

NeoVolta Secures Funding: Solar energy storage company NeoVolta has obtained a $5 million Line of Credit from National Energy Modelers to enhance working capital while maintaining shareholder equity, with no equity component involved.

Impact on Share Issuance: The agreement restricts NeoVolta from using its Form S-3 registration statement to issue shares without the lender's consent, allowing the company to focus on advancing its strategic initiatives.