NeoVolta NV14 Recognized by Solar Power World as a Top Solar Storage Product of 2022

SAN DIEGO, Feb. 28, 2023 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, announced today that its NV14 system has been named one of Solar Power World’s Top Solar Storage Products for 2022. This marks the fourth consecutive year the NV14 has received the award from Solar Power World, one of the solar industry’s leading media outlets.

The NV14 was once again recognized for its high capacity of 14.4 kilowatt-hours (expandable to 24 kWh with the optional NV24 add-on battery) as well as its powerful 7,680-Watt inverter and compatibility with AC or DC solar panels. Solar Power World also emphasized that the advanced lithium iron phosphate battery meets Underwriters Laboratories (UL) 9540A fire safety standards and can be integrated with residential backup generators.

“Our entire team is thrilled to receive this prestigious award for the fourth year in a row,” said NeoVolta CEO Brent Willson. “2022 was a banner year for NeoVolta in terms of product development and commercial expansion, and we look forward to keeping the momentum going in 2023.”

The long-lasting NV14 is recognized as one of the most affordable residential storage solutions in the U.S. on the basis of cost per kilowatt-hour. Residential installations are available in 12 Sun Belt states and the territory of Puerto Rico.

Meanwhile, NeoVolta systems are seeing rapid adoption in commercial applications nationwide. In 2022, NeoVolta was chosen as the energy storage solution for American Development Partners commercial properties as well as the EOS Linx network of electric vehicle charging stations.

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: http://www.NeoVolta.com email us: IR@NeoVolta.com or call us: 858-239-2029

Forward-Looking Statements: Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the future performance, reliability and safety of NeoVolta’s NV14 storage system and the ability of the NV14 to be successfully integrated with residential backup generators. Although NeoVolta believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. NeoVolta has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the "Risk Factors" section of NeoVolta’s Form 1-A filing filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. NeoVolta undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cd7af8ea-e8c9-482f-aef9-4d18e2fed3d7