GlobeNewswire Inc | Jun 2, 2021 08:30AM EDT

June 02, 2021

Outshines Competition with Battery Life Cycle Increase from 4,000 to 6,000 Cycles, One of the Highest in the Market

SAN DIEGO, June 02, 2021 (GLOBE NEWSWIRE) -- NeoVolta Inc. (OTCQB: NEOV) NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, has announced a significantly longer cycle life for its solar batteries. Effective June 15, NeoVoltas advanced NV14 energy storage system will feature a 6,000-cycle lithium iron phosphate battery. This represents a 50% longer life than the original 4,000-cycle product.

A battery cycle is defined as one charge and discharge. With most home storage batteries cycled on a daily basis, 4,000 cycles equates to a life of 10.95 years. The 6,000 cycles from NeoVolta translates to 16.5 years of useful life, based on a full charge and discharge. If the homeowner discharges less battery, the lifetime is generally longer.

NeoVoltas NV24 add-on battery, which can be used to expand the NV14s high storage capacity, has also been upgraded to 6,000 cycles.

For any homeowner who invests in energy storage, maximizing cycle life is of the utmost importance, said CEO Brent Willson, CEO of NeoVolta. NeoVoltas NV14 system and optional NV24 battery now offer one of the longest lifetimes available in the residential mainstream market.

Reaching 6,000-cycle capability is just the latest engineering milestone for NeoVolta, which also offers generator integration and off-grid options. NeoVolta continues to develop other industry-leading enhancements, all while keeping the lowest price in the industry when comparing cost per watt.

NeoVolta storage systems are designed for safety and performance. Their 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 batterywithout the expense of a second inverter. The systems 7.7 kilowatts of instantaneous power discharge also sets it apart from the competition.

For its superior safety, performance and compatibility with any solar systemnew or existing, AC or DCthe NV14 has been named one of Solar Power Worlds top storage products two 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 arent producing, and get one step closer to grid independence. Customers can expand the NV14s 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 NeoVoltas 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 NeoVoltas 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.