NeoVolta Systems to be Deployed in EOS Linx EV Charging Stations at Major Hotel Brand

Continues Expected Rollout of 1,000 NeoVolta Systems at Hotel Chains, Gas Stations, and Convenience Stores Nationwide

SAN DIEGO, Sept. 27, 2022 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, today announced that its systems will be installed in electric vehicle charging stations at a national hotel brand. This initial phase of installations continues an expected nationwide rollout of NeoVolta batteries in 1,000 EOS Linx charging stations at various hotel chains, gas stations, and convenience stores nationwide over the next three years.

With EOS charging stations on site, guests at these hotel locations will be able to charge their electric vehicles overnight while they rest, enhancing their stay. The parent company of the brand is one of the world’s largest lodging franchises, with nearly 7,000 hotels. The first such installation of an EOS Charge Station recently took place at a hotel in Nashville.

“Travelers will enjoy the convenience of charging their electric vehicles with EOS Charge Stations at these hotel locations,” says EOS Linx CEO Blake Snider. “With a reliable, high-performance NeoVolta energy storage battery integrated, each of these charging stations will be ready to go at any time of day, under any conditions.”

Through its relationship with EOS Linx, NeoVolta will provide customized energy storage systems and intelligent power management for the EOS charging stations. The clean solar energy stored in the NeoVolta battery can be used to power the charging stations even when the sun isn’t shining. Each EOS Charge Station is also equipped with a minimum of two chargers and a 75-inch digital advertising display.

“We are thrilled to be the clean energy storage provider for EOS Charge stations at sites across the country,” said Brent Willson, CEO of NeoVolta Inc. “This represents a unique opportunity to serve America’s electric vehicle drivers and introduce them to NeoVolta’s advanced energy storage technology.”

California-based NeoVolta installs storage systems in 12 Sun Belt states and the territory of Puerto Rico. In April 2022, the NeoVolta NV14 was listed as one of the most affordable solar batteries in the U.S. in EnergySage’s latest semiannual Solar Marketplace Intel Report. In January 2022, NeoVolta was recognized as one of Solar Power World’s Top Solar Storage Products for the third year in a row.

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.

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About EOS Linx - EOS Linx combines solar energy and energy storage in its charging stations to support a more renewable electrification solution for electric vehicle charging, performing even when grid power is interrupted. EOS Linx already has 14,000 EV charging locations under contract or MSA. The comprehensive charging solution includes solar power generation and storage, electric vehicle charging, AI-based security, and digital out-of-home advertising that adds immediate value to each location.

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 time frame over which the rollout will occur, 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.

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