Company Announcements

SAN DIEGO, June 18, 2024 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV), a leading innovator in advanced energy storage systems, today announced a compelling shareholder letter from newly appointed CEO Ardes Johnson. The letter outlines Johnson’s strategic initiatives aimed at driving rapid growth and seizing opportunities in the residential and commercial energy storage markets.

Recent Achievements under Ardes Johnson’s Leadership:

• National Sales Team Formation: NeoVolta has successfully assembled a national sales team targeting key renewable energy distribution centers, ensuring a robust presence across the U.S.
• Strategic Partnerships Initiated: The company has begun collaborations with leading solar installers in California, Nevada, and Florida, positioning itself to capture a larger market share.
• Advanced Conversations for Next-Gen Systems: Johnson initiated discussions with partners to develop the next generation of NeoVolta’s energy storage systems, setting the stage for future innovation.

Upcoming Strategic Moves for Rapid Growth:

• Expansion into Top U.S. Markets: NeoVolta is actively expanding into high-potential regions such as Hawaii, Texas, Florida, and Puerto Rico, with regionally based sales teams to maximize reach and service.
• Vendor Approval with Major Leasing Companies: A key initiative to make NeoVolta’s products more accessible and affordable, driving increased adoption and sales in the residential energy storage market.
• Entry into the Commercial Market in 2025: Leveraging robust R&D to create complementary solutions tailored for the commercial sector, expanding NeoVolta’s market footprint.
• Launch of Virtual Peaker Solution: Addressing the growing demand for storage-only solutions from utilities and aggregators, positioning NeoVolta at the forefront of energy storage innovation.

CEO Ardes Johnson shared his vision with enthusiasm, stating, “We are poised for rapid growth. Our strategic initiatives are designed to empower consumers and meet the evolving needs of utilities, driving both innovation and market expansion.”

Johnson also expressed his gratitude to NeoVolta’s Founder and CTO, Brent Willson, and the entire team for their unwavering dedication and contributions to the company’s success.

For more information on NeoVolta's strategic initiatives and future plans, review the full letter from CEO Ardes Johnson here.

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.