SAN DIEGO, March 22, 2022 (GLOBE NEWSWIRE) — NeoVolta Inc. (OTCQB: NEOV) – NeoVolta Inc., maker of intelligent energy storage solutions, announced that its recently introduced 6,000-cycle solar home battery has passed the Product Safety Standard specified by Underwriters Laboratories (UL) (ANSI/CAN/UL 9540:2020). UL 9540A is the US standard for battery storage safety testing. This test assesses the potential fire hazard from an overheating chain reaction known as thermal runaway.
Unlike ordinary lithium-ion storage batteries, NeoVolta systems use lithium iron phosphate battery chemistry. This clean, non-toxic chemistry has been certified non-flammable and has “no open flame” and “no thermal runaway” characteristics when heated to failure. NeoVolta’s NV14 storage system and optional NV24 boost battery met both the thermal runaway and emissions requirements specified in UL 9540A. Meeting these requirements is a major milestone in the field of residential energy storage systems.
“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 rest assured that our lithium iron phosphate batteries meet the highest safety standards.”
NeoVolta’s 6,000 cycle battery life is one of the highest in the residential energy storage market. This represents a 50% increase over NeoVolta’s original 4,000 cycle product. Based on a full daily charge and discharge, 6,000 cycles equates to 16.5 years of service life.
Passing the UL safety standard with its new 6,000 cycle products is just the latest technical highlight for NeoVolta, which also offers generator integration. NeoVolta continues to develop other industry-leading improvements while maintaining the lowest price in the industry when comparing cost per watt.
If the grid fails for any reason, NeoVolta storage systems provide immediate backup power. And under normal conditions, they can significantly reduce utility bills. NeoVolta’s advanced lithium iron phosphate chemistry is a non-flammable and non-toxic alternative to ordinary lithium-ion batteries. The NV14 system has a very high storage capacity of 14.4 kWh, expandable to 24.0 kWh with the optional NV24 battery – without the cost of a second inverter. The system’s instantaneous output of 7.7 kilowatts also sets it apart from the competition. NeoVolta storage is compatible with any solar system – new or existing, AC or DC.
Due to its superior security and performance, the NV14 has been recognized as one of Solar Power World’s Best Storage Products three years in a row.
About NeoVolta – NeoVolta designs, develops and manufactures residential energy storage systems that reduce utility bills and keep your home powered even when the grid goes out. With a focus on safe lithium iron phosphate (LiFe(PO4)) chemistry, the NV14 is equipped with a 14.4 kWh solar-rechargeable 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 from power outages, avoid expensive peak electricity rates charged by utilities when solar panels are not producing, and take a step closer to grid independence. Customers can expand the capacity of the NV14 to an industry-leading 24.0 kWh with the optional NeoVolta NV24 booster battery. NeoVolta has added generator compatibility and is working on other industry-leading improvements to be announced shortly.
For more information visit: http://www.NeoVolta.com Write us an eMail: IR@NeoVolta.com or call us: 858-239-2029
Forward-looking statements: Some of the statements in this press 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 that 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 NV14’s ability to be successfully integrated into residential backup generators. Although NeoVolta believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, the expectations may differ materially from the results expressed or implied by such forward-looking statements. NeoVolta has attempted to identify forward-looking statements through terminology, including ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘plans’, ‘projects’, ”intends’, ‘potential’, ‘may’ ‘, ”might”, ”could”, ”will”, ”should”, ”about” or other words conveying uncertainty of future events or results to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including those discussed and updated in the “Risk Factors” section of NeoVolta’s Form 1-A filing with the Securities and Exchange Commission (“SEC”) From time to time in its other public filings with the SEC. Any forward-looking statements contained in this press release speak only as of their date. NeoVolta undertakes no obligation to update any forward-looking statements contained in this press release to reflect events or circumstances after their 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
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