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NeoVolta Smart Edge Infrastructure Partner EOS Linx Increased Deployments by 150% in 2023, Plans to More than Double Network in 2024

SAN DIEGO, March 26, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: NEOV) –  NeoVolta Inc., a San-Diego based leader in Smart Energy Storage Solutions, today announced that its partner, EOS Linx increased its EV deployments by 150% in 2023.

“We are pleased to see our partnership with EOS Linx pay dividends as we expected,” said Brent Willson, CEO at NeoVolta Inc. “While the NV-14 is known as providing safe and powerful energy storage for homes, we recognize the need to serve roadside charging networks to match the growing EV-driving audience.”

Tennessee-based EOS Linx has been making waves recently thanks to the high deployment rates of its EV charging network. EOS utilizes NeoVolta NV-14 technology in its stations to help provide effective charging solutions for electric vehicles.  The company increased its number of nationally-deployed EV charging stations by 150% in 2023 and plans to double its expansion in 2024. 

“We built EOS from the ground up to provide reliable, accessible EV charging where drivers need it most,” said Blake Snider, CEO of EOS Linx. The statement echoed Snider’s 2022 remarks at the start of the partnership, “With a reliable, high-performance NeoVolta energy storage battery integrated, each of these charging stations will be ready to go at any time of day, under any conditions.”

At each EV charging station, the partnership between NeoVolta and EOS creates an enhanced driver experience by pairing superior charging capabilities with screens that play media for users and passers-by during charges. These stations provide a valuable additional revenue stream, giving advertisers new formats to insert marketing spots as customers are at the stations.

The NV-14 is a critical component of these stations, giving EOS access to a safe and efficient battery storage system to help power its customers and get them back on the road. This efficacy has led to higher adoption rates and has allowed EOS to develop new partnerships across the country with local utilities and new revenue verticals such as healthcare, school systems, and local governments.

“The EV driver charging experience has evolved, and more properties understand the value of allowing drivers the ability to plug in while they tend to their normal day-to-day activities.  We are proud to share this partnership with EOS Linx.”

NeoVolta prides itself on not only being one of the nation’s top home solar battery storage providers but also being able to help its partners reach new heights with their charging initiative. The NV-14 has built a reputation for itself thanks to its unique Lithium Iron Phosphate system, which has a significantly reduced risk of thermal runaway, especially when compared to lithium-ion counterparts. 

This heat resistance and level of reliability means that EOS EV charging kiosks operate in a stable environment, even during overcharging or short-circuit conditions where other battery storage providers may not be able to function. 

The NeoVolta team is proud to partner with EOS Linx to continue its expansion efforts with the introduction of three new product offerings last year that were purpose-built to work with their new business verticals.

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.

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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.

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