Core Insights - NeoVolta Inc. has partnered with Virtual Peaker to enhance grid resilience and promote the adoption of distributed energy resources [1][2][3] - The collaboration integrates NeoVolta's advanced battery energy storage systems with Virtual Peaker's virtual power plant platform, enabling AI-driven energy management [2][3] - This partnership aims to empower energy consumers to actively participate in the energy ecosystem, benefiting both homeowners and utilities [3] Company Overview - NeoVolta is a leading innovator in energy storage solutions, focused on providing reliable and sustainable energy storage systems for residential and commercial applications [4] - The company is committed to advancing renewable energy and improving energy management through strategic partnerships and cutting-edge technology [4] Virtual Peaker Overview - Virtual Peaker is a prominent virtual power plant software company that helps utilities build a future-ready grid and achieve global decarbonization goals [5] - The company's software-as-a-service platform integrates distributed energy resource management, customer engagement, and load forecasting [5]

Core Insights - NeoVolta Inc. has partnered with Virtual Peaker to enhance grid resilience and promote the adoption of distributed energy resources [1][2][3] - The collaboration integrates NeoVolta's advanced battery energy storage systems with Virtual Peaker's virtual power plant platform, enabling AI-driven energy management [2][3] - This partnership aims to empower energy consumers to actively participate in the energy ecosystem, benefiting both homeowners and utilities [3] Company Overview - NeoVolta is a leading innovator in energy storage solutions, focused on providing reliable and sustainable energy storage systems [4] - The company has established itself as a critical player in the energy storage industry, catering to the growing demand for efficient energy management in residential and commercial applications [4] - NeoVolta is committed to advancing renewable energy and enhancing energy storage and usage through strategic partnerships and cutting-edge technology [4] Virtual Peaker Overview - Virtual Peaker is a leading virtual power plant software company that helps utilities build a future-ready grid and achieve global decarbonization goals [5] - The company offers a software-as-a-service platform that integrates distributed energy resource management, customer engagement, and load forecasting [5] - Virtual Peaker's technology, Topline Demand Control, is designed to enhance virtual power plant capabilities [5]

Core Insights - NeoVolta Inc. anticipates record-breaking quarterly sales, with unaudited revenue expected to exceed $2 million, marking an increase of over 600% compared to the same period last year, driven by rising demand for sustainable home energy solutions [1][2] - The company's advanced energy storage systems are designed to reduce grid dependency, lower electricity costs, and maintain power during outages, reflecting a market shift towards renewable energy and energy independence [2] - A newly introduced product offering has seen early success, with demand exceeding expectations, indicating strong momentum ahead of a broader rollout planned for late spring [3] Company Performance - NeoVolta has experienced four consecutive quarters of sales growth, showcasing the strength of its technology and the accelerating market shift towards renewable energy [2] - The company has aggressively expanded into new markets over the past six months, resulting in increased adoption of its solutions by partners [4] - NeoVolta is positioned to capitalize on the growing energy storage market opportunity, with a focus on innovation and customer service [4] Future Outlook - The company plans to release its full financial results for the quarter in May 2025, which will provide further insights into its performance and market position [4]

Core Viewpoint - NeoVolta Inc. has received approval to proceed with a $300 million loan application from the U.S. Department of Energy to expand its manufacturing capabilities in the U.S. [1] Group 1: Company Developments - NeoVolta plans to produce residential and commercial Battery Energy Storage Systems (BESS) across the U.S., creating over 200 jobs and enhancing the American supply chain by onshoring battery cells and inverters [2] - The company has shortlisted two states for its new headquarters, manufacturing facility, and regional offices from 23 state economic development offers [2] - NeoVolta's CEO, Ardes Johnson, emphasized the importance of battery storage and grid strengthening for the future of clean energy, noting that electricity consumption is expected to grow by 80% by 2050 [3][4] Group 2: Industry Context - The U.S. Department of Energy has stated that battery storage is essential for the initiative to "Unleash American Energy," and it will continue to allocate funds to support energy development despite recent pauses in federal funding [3] - The Title 17 Clean Energy Financing Program requires projects to feasibly and financially support energy development, transmission, storage, and deployment across the U.S., aligning with the current administration's focus on U.S. manufacturing and supply chain strengthening [3]

Financial Performance - Revenues from contracts with customers for Q2 2024 reached $1,071,581, a 5.3% increase from $1,017,828 in Q2 2023[17] - Gross profit for Q2 2024 was $323,911, compared to $205,873 in Q2 2023, reflecting a significant increase of 57.1%[17] - Total operating expenses for Q2 2024 were $1,270,841, up 64.1% from $774,698 in Q2 2023[17] - Net loss for Q2 2024 was $971,137, compared to a net loss of $556,044 in Q2 2023, representing a 74.6% increase in losses[17] - Revenues for the three months ended December 31, 2024, were $1,071,581, a modest increase from $1,017,828 in the same period of 2023, attributed to new sales channels opened since the new CEO's engagement[76] - Revenues for the six months ended December 31, 2024, were $1,661,817, down from $1,781,958 in 2023, influenced by macroeconomic and regulatory factors[83] - Net loss for the three months ended December 31, 2024, was $971,137, compared to $556,044 for the same period in 2023, reflecting the overall financial performance[82] - Net loss for the six months ended December 31, 2024, was $1,935,631, up from $984,759 for the same period in 2023[88] Cash and Liquidity - Cash and cash equivalents decreased to $328,746 as of December 31, 2024, down from $986,427 at the end of June 2024, a decline of 66.7%[25] - As of December 31, 2024, the company had a cash balance of approximately $0.3 million and net working capital of approximately $3.7 million[93] - The company anticipates sufficient cash to operate for at least the next 12 months due to increased product demand and recent financing arrangements[93] - Net cash used in operating activities for the six months ended December 31, 2024, was $1,451,330, compared to $503,497 in the same period in 2023, due to increased cash operating expenses[90] - Net cash provided by financing activities for the six months ended December 31, 2024, was $793,649, compared to zero in the same period in 2023, following the establishment of a line of credit[91] Assets and Liabilities - Total current assets as of December 31, 2024 were $4,018,118, a decrease of 13.7% from $4,656,530 as of June 30, 2024[15] - Total liabilities increased to $717,830 as of December 31, 2024, compared to $61,100 as of June 30, 2024, indicating a significant rise in liabilities[15] - The company reported a stockholders' equity of $3,300,288 as of December 31, 2024, down from $4,595,430 as of June 30, 2024, a decrease of 28.2%[15] Research and Development - Research and development expenses for Q2 2024 were $42,324, compared to no expenses in Q2 2023, indicating a new focus on product development[17] - Research and development expenses for the three months ended December 31, 2024, were $42,324, compared to zero in the same period of 2023, indicating increased focus on product development[79] - Research and development expenses for the six months ended December 31, 2024, were $50,941, compared to zero for the same period in 2023, reflecting increased product development efforts[86] Stock and Compensation - The company recognized stock compensation expense of $392,339 for the six months ended December 31, 2024, compared to $81,683 for the same period in 2023[53] - For the six months ended December 31, 2024, total non-cash stock compensation expense recognized was $480,089, compared to $181,858 for the same period in 2023, reflecting a significant increase[54][56] - The new CEO received an initial equity grant of 1,280,000 restricted stock units valued at $2,854,000, vesting over four years[50] - As of December 31, 2024, the outstanding warrants totaled 1,081,150 shares with a weighted average exercise price of $4.00 and an intrinsic value of $1,308,192[48] Market and Sales - The company has expanded its sales of proprietary Energy Storage Systems (ESS) through wholesale customers, primarily in California, with plans for further market expansion[27] - The company has expanded its market presence, successfully installing products in multiple states beyond California, including Arizona, Texas, and Florida[71] - For the three months ended December 31, 2024, two dealers represented approximately 37% and 34% of the Company's revenues, while for the six months ended December 31, 2024, they represented approximately 35% and 33%[31] Financing and Borrowings - The Company obtained a line of credit for borrowings of up to $5,000,000 in September 2024, with net borrowings of $383,538 as of December 31, 2024, leaving an available balance of $4,616,462[40] - In November 2024, the Company initiated short-term borrowings of $371,997 from a commercial lender to finance shipments to a new customer in Puerto Rico[42] - The gross proceeds from the August 2022 public offering were $4,485,000, with net proceeds of approximately $3,780,000 after deductions[45] - The company issued 500,000 shares of common stock at $2.00 per share on February 4, 2025, raising gross proceeds of $1,000,000 for working capital needs[63] - On February 4, 2025, the company issued 500,000 shares of common stock at $2.00 per share, resulting in gross proceeds of $1,000,000[92] Corporate Governance and Compliance - NeoVolta, Inc. has filed various amended and restated documents, including Articles of Incorporation and Bylaws, indicating ongoing corporate governance updates[121] - The company is preparing for a private offering in February 2025, as indicated by the Form of Subscription Agreement[121] - Steve Bond has an amended employment agreement effective February 4, 2025, which may reflect changes in compensation or responsibilities[121] - The consulting agreement with Brent Willson, effective March 1, 2025, suggests strategic advisory support for the company[121] - Certifications by the Principal Executive Officer and Principal Financial Officer were filed, ensuring compliance with the Sarbanes-Oxley Act[121] - Inline XBRL documents have been prepared, indicating a commitment to transparency and modern reporting standards[121] - The company has signed the report on February 7, 2025, indicating timely compliance with regulatory requirements[126] - H. Ardes Johnson serves as the Chief Executive Officer, while Steve Bond is the Chief Financial Officer, highlighting key leadership roles[126] Risk Factors - The company is monitoring potential tariff increases on imported components, which could significantly impact costs if enacted[95]

Core Insights - NeoVolta Inc. has appointed Michael Mendik, PhD, MBA, as the new Chief Operating Officer (COO), bringing over two decades of experience in international business management and renewable energy [1][3] - Mendik previously served as Country Manager/General Manager for North America at GoodWe, where he significantly contributed to market share and revenue growth [2][3] - The CEO of NeoVolta, Ardes Johnson, expressed confidence that Mendik's experience and strategic vision will enhance the company's market presence and innovation in energy storage solutions [3] Company Overview - NeoVolta is focused on providing reliable, sustainable, and high-performance energy storage systems, emphasizing cutting-edge technology and strategic partnerships [5] - The company aims to drive progress in renewable energy and improve how power is stored and utilized globally [5] Leadership Profile - Michael Mendik holds a PhD in Natural Sciences and a master's degree in Physics from the Swiss Federal Institute of Technology, Zurich, along with an MBA from Robert Morris University, Pittsburgh [4] - He is fluent in multiple languages, including English, German, French, and Czech, and has been awarded 14 patents for his contributions to the industry [4]

Core Viewpoint - NeoVolta Inc. and Expion360 Inc. have signed a non-binding letter of intent to collaborate on developing a state-of-the-art battery manufacturing facility and innovative lithium-ion battery products, aiming to enhance American-made battery production and meet the growing demand for energy storage solutions [1][6]. Company Collaboration - The collaboration will leverage Expion360's expertise in battery design and engineering alongside NeoVolta's capital and manpower to create high-performance, sustainable energy storage solutions for residential and commercial applications [2][5]. - Both companies are committed to advancing clean energy through innovation and collaboration, with a focus on producing American-made batteries [6]. Financial and Regulatory Aspects - NeoVolta has completed phase one of its loan application for $250 million from the U.S. Department of Energy Title 17 Loan Program and is moving to phase two, which involves technical due diligence [3]. - To comply with domestic content requirements established by the Inflation Reduction Act of 2022, NeoVolta plans to establish a manufacturing facility that will create over 150 high-paying jobs [3]. Company Profiles - NeoVolta is focused on providing reliable, sustainable, and high-performance energy storage systems, emphasizing cutting-edge technology and strategic partnerships in renewable energy [7]. - Expion360 specializes in premium lithium iron phosphate (LiFePO4) batteries and is expanding into the home energy storage market, offering solutions that help customers create stable micro-energy grids [8].

Core Viewpoint - NeoVolta is advancing its U.S. manufacturing capabilities by entering technical due diligence for a $250 million loan from the U.S. Department of Energy to support the establishment of a new manufacturing facility and regional support centers [1][6]. Group 1: Manufacturing Expansion - The company plans to build a state-of-the-art manufacturing facility that will create over 150 high-paying jobs to meet domestic content requirements for Battery Electric Storage Systems [2]. - NeoVolta aims to vertically integrate its manufacturing supply chain, focusing on producing its battery cell technology and expanding into inverter production and assembly [3]. Group 2: Financial Support and Offers - NeoVolta has received financial offers from 23 state economic development agencies for establishing its headquarters and manufacturing facility, which include grants for various expenditures [5]. - The company is currently evaluating these offers to determine the best location for its operations [5]. Group 3: Legislative and Market Context - Domestic content requirements for the industry were established in the Inflation Reduction Act of 2022, emphasizing the importance of U.S. manufacturing [4]. - The company is positioning itself as an "Innovative Energy" project under the DOE's Title 17 Clean Energy Financing Program, which supports clean energy deployment and aims to reduce greenhouse gas emissions [7]. Group 4: Strategic Vision - NeoVolta is committed to providing American-made solar technology storage solutions to enhance grid resilience and energy independence [6]. - The company emphasizes its readiness to demonstrate technical feasibility and due diligence to the DOE, aiming for favorable financing terms [8].

SAN DIEGO, Oct. 02, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: NEOV), NeoVolta Inc., a leading provider of advanced energy storage solutions, is pleased to announce a $1.4 million dollar deal with National Renewable Energy Partners (NREP). This purchase order expands NeoVolta's dealer network into several new states including Ohio, Texas, Connecticut, Indiana, and Pennsylvania, capitalizing on emerging opportunities in the residential energy sector. This purchase order for 150 NV14s highlights the growing demand for ...

SAN DIEGO, Sept. 04, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: NEOV), NeoVolta Inc., a leader in solar energy storage solutions, is pleased to announce the successful securing of a $5 million Line of Credit (LOC) from National Energy Modelers, Inc. This strategic financial arrangement is a significant milestone for NeoVolta, as it bolsters the company's working capital while preserving shareholder equity. The LOC is a pure debt financing agreement with no equity component. This allows NeoVolta to advance its short- ...