SAN DIEGO, Aug. 12, 2020 (GLOBE NEWSWIRE) — NEOVOLTA INC. (OTCQB: NEOV) â€“ NeoVolta, manufacturer of the NV14 and NV24 home solar storage systems, announces an exclusive distribution agreement with Nevada-based PMP Energy.Â In exchange for making minimum purchases of up to $15 million, PMP Energy can secure specific geographic exclusivities for distribution over the three-year term of the agreement. Under the agreement, PMP Energy will provide dealers with training and certification to install NeoVolta systems in homes.
The PMP Energy certification program will provide dealers with the proper documentation to satisfy all permitting requirements for each state.
â€śWe spent more than a year in due diligence and selected NeoVolta,â€ť said Dan Briggs, PMP Energyâ€™s President and CEO. â€śWe feel they provide the safest battery chemistry and a unique technology that makes them a leader in this vital space.â€ť
The NeoVolta NV14, named one of Solar Power Worldâ€™s â€ś2019 Top Solar Storage Products,â€ť has a high storage capacity of 14.4 kilowatt-hours. This can be amplified to 24.0 kWh with the optional NV24 battery add-on, making it one of the highest-capacity systems in its classâ€”without the expense of adding a second inverter. The inverter can discharge 7.7 kilowatts of instantaneous power, more than most mainstream competitors. And NeoVoltaâ€™s lithium iron phosphate chemistry is among the safest and longest-lasting solar battery technologies on the market.
â€śWeâ€™re very proud to be aligned with PMP Energy,â€ť said NeoVolta CEO Brent Willson. â€śThrough this strategic collaboration, PMP Energy will provide training to become a Certified NeoVolta Home Energy Storage System Installer. And many more homeowners will now be able to enjoy the superior utility savings and blackout protection of the NV14 and NV24 solar storage systems.â€ť
About NeoVolta – NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage batteries capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery, 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 arenâ€™t producing, and get one step closer to grid independence.
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 NeoVoltaâ€™s NV14 storage system, and whether PMP Energy will make the minimum purchases under the agreement to obtain geographic exclusivities. 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 NeoVoltaâ€™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.