NeoVolta and Expion360 Announce LOI to Advance Battery Manufacturing and Product Design
SHARE THIS ARTICLE
SAN DIEGO, Dec. 11, 2024 (GLOBE NEWSWIRE) -- NeoVolta Inc. (Nasdaq: NEOV) (“NeoVolta”), a leading innovator in energy storage solutions, is excited to announce the execution of a non-binding letter of intent (“LOI”) with Expion360 Inc. (Nasdaq: XPON) (“Expion360”), a renowned expert in battery design and engineering, and an industry leader in lithium-ion battery power storage solutions. The LOI provides the framework for a potential collaboration that aims to leverage the parties’ shared resources to engineer a state-of-the-art battery manufacturing facility and develop innovative lithium-ion battery cell and module product designs, marking a significant milestone in the production of American-made batteries.
If the parties proceed with a formal engagement under the LOI, Expion360 intends to contribute its expertise in design and engineering, while NeoVolta plans to provide the necessary capital and manpower. Together, the companies expect to bring high-performance, sustainable energy storage solutions to the market to address the growing demand for efficient energy management in both residential and commercial applications.
Recently NeoVolta completed phase one of its loan application for $250 million from the U.S. Department of Energy (DOE) Title 17 Loan Program (LPO), and has been approved to proceed with phase two, consisting of technical due diligence. To meet domestic content requirements for commercial grade Battery Electric Storage Systems (BESS) and other components, NeoVolta must establish a state-of-the-art manufacturing facility that can accommodate more than 150 high-paid employees. Domestic content requirements for the entire industry were codified in the bipartisan Inflation Reduction Act (IRA) in 2022, and President-elect Trump has continued to promote American production throughout his transition announcements.
“We are thrilled to join forces with Expion360. This collaboration aligns perfectly with our mission to drive progress in renewable energy and enhance how the world stores and uses power. By taking this initial step to combine our strengths, we are confident we can deliver cutting-edge energy storage solutions that meet the highest standards of performance and reliability,” said Ardes Johnson, CEO of NeoVolta.
“Partnering with NeoVolta is a significant step forward for Expion360. We believe our expertise in battery design and engineering, coupled with NeoVolta’s resources and commitment to innovation, will enable us to create exceptional products that will set new benchmarks in the industry. We look forward to seeing the impact of our collaboration on the future of clean energy,” said Brian Schaffner, CEO of Expion360.
The LOI underscores the commitment of both companies to advance the future of clean energy through innovation and collaboration. As they work together to bring their American-made batteries to fruition, NeoVolta and Expion360 plan to make a lasting impact on the energy storage industry.
About NeoVolta
NeoVolta is dedicated to providing reliable, sustainable, and high-performance energy storage systems. With a focus on cutting-edge technology and strategic partnerships, NeoVolta is committed to driving progress in renewable energy and enhancing how the world stores and uses power.
About Expion360
Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On December 19, 2023, the Company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages.
The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer. The Company is headquartered in Redmond, Oregon. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the Company, visit Expion360.com.
Forward-Looking Statements and Safe Harbor Notice
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Examples of such forward-looking statements include statements that use forward-looking words such as "projected," "expect," "possibility,” “believe,” “aim,” “goal,” “plan,” and "anticipate," or similar expressions. Forward-looking statements included in this press release include, but are not limited to, statements relating to NeoVolta’s and Expion360’s future development plans, growth prospects, and market opportunity; the contemplated collaboration between the parties, including the development of a manufacturing facility and product designs; NeoVolta’s ability to comply with regulatory requirements and obtain necessary approvals; and the impact of any collaboration between the parties on the energy storage industry. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements.
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
Disclaimer
Effective Date: [August, 2024]
This website/newsletter is owned, operated, and edited by Relqo Media LLC. Any wording found in this email or disclaimer referencing "I," "we," "our," or "Relqo Media" refers to Relqo Media LLC. This webpage/newsletter is a paid advertisement, not a recommendation or an offer to buy or sell securities. Our business model is to be financially compensated to market and promote small public companies. By reading our newsletter and our website, you agree to the terms of our disclaimer, which are subject to change at any time.
We are not registered or licensed in any jurisdiction to provide investing advice or any advisory or consultancy services, and are therefore unqualified to give investment recommendations. Always conduct your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis for making investment decisions and is for entertainment purposes only. At most, this communication should serve as a starting point to conduct your own research and consult with a licensed professional regarding the companies profiled and discussed.
Conduct your own research. Companies with a low price per share are speculative and carry a high degree of risk, so only invest what you can afford to lose. By using our service, you agree not to hold our site, its editors, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our newsletters or on our website.
We do not advise any reader to take any specific action. Losses can be larger than expected if the company experiences issues with liquidity or wide spreads. Our website and newsletter are for entertainment purposes only. Never invest purely based on our alerts. Gains mentioned in our newsletter and on our website may be based on end-of-day or intraday data.
This publication, its owners, and affiliates may hold positions in the securities mentioned in our alerts, which we may sell at any time without notice to our subscribers, potentially impacting share prices. If we own any shares, we will list the relevant stock information and the number of shares here. Relqo Media LLC's business model is to receive financial compensation to promote public companies.
Purpose
These websites, social media accounts, and all associated content are provided for informational and entertainment purposes only. Relqo Media LLC engages in marketing, advertising, and brand awareness for small-cap public companies. The content, including articles, emails, tweets, and other communications across our platforms, is classified as paid advertisements and should not be considered an offer, recommendation, or solicitation to buy or sell securities. Readers and users should not rely on the information provided as a basis for making investment decisions.
Compensation Disclosure
Relqo Media LLC is compensated for its promotional services by Penzance LLC, and this compensation may include cash payments, stock options, or other financial consideration from the companies we feature. The compensation received directly impacts the content presented on our platforms and creates a significant conflict of interest.
Cadrenal Therapeutics: Relqo Media LLC has been compensated $30,000 per week since August 8, 2024, to run a marketing campaign for Cadrenal Therapeutics. This payment will continue until May 1st, 2025, bringing the total compensation to seven hundred eighty thousand dollars.
NeoVolta Inc: Relqo Media LLC has been compensated four hundred thousand dollars starting November 11, 2024, to run a marketing campaign for NeoVolta Inc. This payment will continue until March 31, 2025. Compensation represents a major conflict of interest in our ability to remain unbiased. Therefore, this communication should be viewed as a commercial advertisement only.
We have not investigated the background of the hiring third party or parties. The third party, profiled company, or their affiliates may wish to liquidate shares of the profiled company at or near the time you receive this communication, which could negatively impact share prices. Any non-compensated alerts are purely for the purpose of expanding our database for future financially compensated investor relations efforts. Frequently, companies profiled in our alerts may experience a significant increase in volume and share price during investor relations marketing, which may decline as soon as the marketing ceases.
Our emails may contain forward-looking statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our email newsletters and on our website is believed to be accurate and correct but has not been independently verified and is not guaranteed.
The information is collected from public sources, such as the profiled company’s website and press releases, but is not researched or verified in any way to ensure its accuracy. Furthermore, Relqo Media often employs independent contractor writers who may make errors when researching information and preparing these communications regarding profiled companies. While independent writers' works are reviewed and edited before publication, errors or omissions may occur. You should assume all information in our communications is incorrect until you verify it yourself and are encouraged never to invest based solely on the information contained in our communications.
The information in this disclaimer is subject to change at any time without notice.
Stockverse Legal Disclaimer
Earnings & Performance Disclaimer
Stockverse provides stock market data, research tools, AI-generated insights, and other financial information strictly for educational and informational purposes.
No Guarantee of Future Performance
The past performance of any stock, security, or investment strategy does not guarantee future results. Stock markets are inherently volatile, and returns are unpredictable.
Investment Risks
Investing in stocks, securities, and financial markets carries substantial risk, including the risk of total loss of capital. Users should perform independent due diligence before making investment decisions.
No Financial Advice
Stockverse does not provide financial, investment, tax, or legal advice. Any information, data, or AI-generated insights should not be considered personalized financial advice. Users should consult a licensed financial professional before making any trading or investment decisions.
AI & Data Disclaimer
Stockverse integrates artificial intelligence (AI) technology (Stockverse GPT) and third-party financial data providers to generate stock insights and market analysis.
AI Limitations & Potential Errors
Stockverse GPT is powered by OpenAI and third-party data sources. While it provides AI-driven stock analysis, it can generate inaccurate, outdated, or misleading information. AI predictions and insights are not a substitute for professional financial analysis.
Delayed & Inaccurate Data
Stock market data displayed on Stockverse may be delayed, incomplete, or inaccurate due to exchange rules, provider limitations, or data outages. Stockverse does not guarantee the accuracy, reliability, or completeness of any financial data provided.
User Responsibility
Users acknowledge that Stockverse GPT and AI-generated insights should not be relied upon for making investment decisions. All trading and financial actions are taken at the user's sole discretion and risk.
Limitation of Liability
By using Stockverse, you acknowledge and agree that:
No Liability for Financial Losses
Stockverse, its owners, affiliates, partners, and employees shall not be liable for any direct, indirect, incidental, consequential, or financial losses incurred due to reliance on data, AI-generated insights, stock recommendations, or market trends displayed on this platform.
No Warranties
Stockverse makes no warranties or representations, express or implied, regarding the accuracy, reliability, or completeness of any content provided. All information is provided "as is" and "as available."
Third-Party Data & External Links
Stockverse may link to third-party content, stock exchanges, brokers, or news sources. We do not endorse, control, or assume responsibility for the accuracy or reliability of external websites or third-party data feeds.
Use at Your Own Risk
By using Stockverse, you acknowledge that all investment decisions are made solely at your own risk, and you release Stockverse from any and all liability associated with financial losses.
Governing Law & Dispute Resolution
Jurisdiction & Applicable Law
This Agreement and any disputes arising out of or relating to Stockverse shall be governed by and construed under the laws of the State of Wyoming, without regard to conflict of law principles.
Binding Arbitration
Any disputes, claims, or controversies arising out of or related to the use of Stockverse shall be exclusively resolved through binding arbitration in Wyoming, in accordance with the rules of the American Arbitration Association (AAA).
Waiver of Class Action & Jury Trial
By using Stockverse, you agree to waive any right to participate in a class action lawsuit or jury trial against Stockverse, its owners, affiliates, and representatives.
Intellectual Property Rights
Ownership of Content
All content, design elements, trademarks, stock analysis, AI-generated insights, and proprietary data displayed on Stockverse are owned by Stockverse Holdings LLC and protected under U.S. and international copyright and intellectual property laws.
Restrictions on Use
Users may not copy, modify, distribute, sell, or republish any Stockverse content, AI-generated insights, or proprietary tools without explicit written permission from Stockverse Holdings LLC.
AI-Generated Content & Licensing
AI-generated insights, trade signals, and stock analysis provided by Stockverse GPT are proprietary and cannot be resold, republished, or distributed for commercial use without express authorization.
DMCA & Copyright Violations
Any unauthorized reproduction or use of Stockverse content may result in legal action under the Digital Millennium Copyright Act (DMCA) or applicable intellectual property laws.
Acceptance of Terms
By accessing and using Stockverse, you acknowledge that you have read, understood, and agreed to this disclaimer. If you do not agree with any part of this disclaimer, you must discontinue use of this platform immediately.
For any legal inquiries or compliance concerns, please contact:
📧 support@stockverse.com🌐 Stockverse.com