NeoVolta’s 6,000-Cycle Home Solar Battery Receives UL Safety Certification

SAN DIEGO, March 22, 2022 (GLOBE NEWSWIRE) -- NeoVolta Inc. (OTCQB: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, announced that its recently unveiled 6,000-cycle home solar battery has passed the product safety standard set forth by Underwriters Laboratories (UL) (ANSI/CAN/UL 9540:2020). UL 9540A is the U.S. standard for battery energy storage safety testing. This test evaluates the potential fire hazard posed by an overheating chain reaction known as thermal runaway.

Unlike ordinary lithium ion storage batteries, NeoVolta systems use lithium iron phosphate battery chemistry. This clean, nontoxic chemistry has been certified as nonflammable having “no open flame” and “no thermal runaway” characteristics when heated to failure. NeoVolta’s NV14 storage system and NV24 optional add-on battery passed both the thermal runaway and off-gas requirements established in UL 9540A. Meeting these requirements is a major milestone in the residential energy storage system space.

“We are so proud to have passed these rigorous testing requirements with our new 6,000-cycle energy storage systems,” said CEO Brent Willson, CEO of NeoVolta. “Homeowners can have peace of mind knowing that our lithium iron phosphate batteries meet the highest safety standards.”

NeoVolta’s battery cycle life of 6,000 cycles is one of the highest on the residential energy storage market. It represents a 50% increase over NeoVolta’s original 4,000-cycle product. Based on a full charge and discharge each day, 6,000 cycles translates to 16.5 years of useful life.

Passing the UL safety standard with its new 6,000-cycle products is just the latest engineering highlight for NeoVolta, which also offers generator integration. NeoVolta continues to develop other industry-leading enhancements, all while keeping the lowest price in the industry when comparing cost per watt.

When the grid goes down for any reason, NeoVolta storage systems immediately provide backup power. And under normal conditions, they can significantly reduce utility bills. NeoVolta’s advanced lithium iron phosphate chemistry is a noncombustible and nontoxic alternative to ordinary lithium-ion batteries. The NV14 system has a very high storage capacity of 14.4 kilowatt-hours, expandable to 24.0 kWh with the optional NV24 battery—without the expense of a second inverter. The system’s 7.7 kilowatts of instantaneous power discharge also sets it apart from the competition. NeoVolta storage is compatible with any solar system—new or existing, AC or DC.

For its superior safety and performance, the NV14 has been named one of Solar Power World’s top storage products three years in a row.

About NeoVolta - NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage systems capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the 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. By storing energy instead of sending it back to the grid, consumers can protect themselves against blackouts, avoid expensive peak demand electricity rates charged by utility companies when solar panels aren’t producing, and get one step closer to grid independence. Customers can expand the NV14’s capacity to an industry-leading 24.0 kWh with the optional NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is working on other industry leading improvements that will be announced soon.

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/6d2b3b67-84b0-4963-a028-d6c4687e4b4b