SAN DIEGO, March 14, 2023 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, announced today that its systems will be deployed in more than 400 Orthagenex treatment centers nationwide. This is part of a rollout of NeoVolta batteries in thousands of American Development Partners (ADP) properties across the country over the next several years.
Together with ADP, NeoVolta will provide energy storage systems and intelligent power management for Orthagenex’s cutting edge regenerative medicine treatments centers. These 400 builds over the next seven years will be equipped with NeoVolta’s NV14 and NV24 Energy Storage Systems. The clean solar energy stored in the NeoVolta batteries will be used to dramatically reduce electric bills and serve as a backup in the event of a power loss.
American Development Partners developer Manny Butera said, “At ADP, we work with companies who innovate. NeoVolta’s advanced energy storage product is a perfect fit for the properties we are developing. We are thrilled to continue our close relationship with NeoVolta.”
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. In February 2023, the NV14 was named one of Solar Power World’s Top Solar Storage Products for the fourth year in a row. Engineered for safety with clean, non-combustible lithium iron phosphate chemistry, the system features a high storage capacity of 14.4 kilowatt-hours (expandable to 24 kWh with the optional NV24 add-on battery) and a powerful 7,680-Watt inverter. It is compatible with AC or DC solar panels and can be integrated with residential backup generators.
“American Development Partners has a very robust portfolio and a proven track record,” said NeoVolta CEO Brent Willson. “We are proud to have earned their trust and excited to be a cornerstone of their smart energy strategy.”
In 2022, NeoVolta was also chosen as the energy storage solution for EOS Linx’s national 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
About American Development Partners - American Development Partners® (ADP) is a full-service development, general contractor (all 50 states), architectural/design, and private equity firm based in Nashville TN. ADP provides a 100% turnkey funding solution that allows industry-proven multi-unit operators to grow their business without using any of their capital allowing our operating partners to truly focus on running the very best organization possible and developing their organizational infrastructure. For more information, visit: www.americandevelopmentpartners.com.
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/e7251993-406c-414f-9505-0cc4f25bf107
