NeoVolta Advances Strategic Collaboration with Luminia to Supply Up to 160 MWh of Energy Storage in California

Rhea-AI Summary

NeoVolta (NASDAQ: NEOV) on December 11, 2025 said it is advancing a strategic collaboration with Luminia to potentially supply battery systems for a portfolio of California solar-plus-storage projects under a non-binding framework.

Luminia’s planned developments include more than 40 MW of solar and roughly 160 MWh of battery storage; the two FTM storage projects alone could represent an estimated $39 million in potential equipment revenue for NeoVolta, subject to final specs, supplier selection, and executed purchase agreements. No purchase obligation exists and timelines remain subject to change.

Positive

• 160 MWh potential storage under consideration
• Estimated $39 million in potential equipment revenue
• Expansion into C&I and utility-scale markets
• Emphasis on U.S.-manufactured, IRA-aligned systems

Negative

• Arrangement is non-binding with no purchase obligation
• Revenue estimate is preliminary and not guaranteed
• Final selection depends on meeting technical specs and pricing
• Project scopes and timelines remain subject to change

Key Figures

Solar capacity 40 MW Solar projects under Luminia development in California

Battery storage 160 MWh Planned across commercial, municipal, and community sites

Potential equipment revenue $39 million Estimated from two front-of-the-meter storage projects

Current share price $3.78 Pre-announcement market context

52-week high $6.19 Pre-announcement market context

52-week low $1.80 Pre-announcement market context

Market cap $130,267,211 Pre-announcement valuation

Project pipeline storage 160 MWh Right-of-first-refusal scope for NeoVolta batteries

Market Reality Check

$3.78 Last Close

Volume Volume 141,039 is below the 20-day average of 247,885 (relative volume 0.57). low

Technical Shares trade above the 200-day MA of 3.75 with price at 3.78 pre-announcement.

Peers on Argus 1 Up 1 Down

Peers show mixed moves, with names like ESP up 1.15% and NVX down 3.57%. Momentum scanner flags ELVA up 7.25% and TE down 11.71%, indicating no clear sector-wide direction tied to this news.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 24	Financing & expansion	Positive	-9.5%	Private placement to fund 2 GWh U.S. battery manufacturing expansion.
Nov 11	Earnings results	Positive	+14.1%	Record Q1 FY2026 results with >1,000% revenue growth and margin improvement.
Oct 23	Preliminary results	Positive	+4.8%	Pre-announced Q1 revenue expected to surpass $6.5M with ~1,000% YoY growth.
Oct 15	Product acquisition	Positive	-9.4%	Closed Neubau asset purchase to launch neuClick modular platform and expand reach.
Oct 08	Acquisition agreement	Positive	+3.0%	Announced Neubau acquisition terms aimed at higher revenue and margins.

Pattern Detected

Recent news has drawn mixed reactions: strong growth and strategic deals sometimes led to gains, but financing and acquisition headlines also saw notable selloffs.

Recent Company History

Over the last few months, NeoVolta reported rapid growth, with Q1 FY2026 revenue at $6.7 million and gross margin of 24%, alongside expansion via the Neubau Energy asset purchase and the neuClick modular platform. Financing activity included a $13 million private placement to support a planned 2 GWh U.S. manufacturing initiative. Market reactions alternated between sharp gains and pullbacks. Today’s Luminia collaboration fits the ongoing strategy of scaling capacity, moving into larger C&I and utility-scale storage opportunities.

Market Pulse Summary

This announcement highlights NeoVolta’s potential role in a significant California storage pipeline, with Luminia’s projects including more than 40 MW of solar and approximately 160 MWh of battery storage. The non-binding framework and absence of firm purchase obligations mean outcomes depend on final specifications and agreements. In context of recent growth, acquisitions, and financing activity, investors may watch for conversion of this collaboration into signed contracts, delivery schedules, and any updates on revenue realization from the estimated $39 million opportunity.

Key Terms

behind-the-meter technical

"Luminia is developing multiple front-of-the-meter (FTM) and behind-the-meter..."

Equipment or systems located on a customer’s side of the electricity meter—such as rooftop solar panels, battery storage, electric vehicle chargers, or energy controls—that generate, store, or manage power for use on-site rather than being supplied through the utility’s grid. Investors care because behind-the-meter assets change how much power a customer buys, can create new revenue or savings streams, affect demand patterns, and shift regulatory or business models in the energy market, much like a homeowner installing their own water tank reduces municipal supply needs.

battery energy storage systems technical

"NeoVolta would receive a right of first refusal to supply its battery energy storage systems..."

Large, grid-connected rechargeable battery systems that store electricity for later use, like a giant household battery for cities or power plants. They matter to investors because they help balance supply and demand, enable more renewable energy, reduce outage risk, and create revenue through services such as selling stored power at peak times or participating in grid stability programs, while requiring upfront capital and having performance limits tied to lifespan and degradation.

right of first refusal financial

"NeoVolta would receive a right of first refusal to supply its battery energy storage systems..."

A right of first refusal gives an existing shareholder or party the chance to buy an asset or shares before the owner can sell them to someone else. Think of it like being offered the first option to buy a house when the owner decides to sell; it matters to investors because it can limit who can acquire a stake, slow or block transactions, and affect the price and liquidity of an investment by restricting open-market sales or new buyers.

AI-generated analysis. Not financial advice.

SAN DIEGO, Dec. 11, 2025 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV), a U.S. energy-storage technology company, announced today that it is advancing a strategic collaboration with Luminia LLC (“Luminia”), a developer of solar and energy storage projects, under a non-binding framework that contemplates the potential development of a portfolio of solar-plus-storage projects planned across California, subject to the parties entering into definitive agreements.

Luminia is developing multiple front-of-the-meter (FTM) and behind-the-meter (BTM) installations that together include more than 40 MW of solar capacity and approximately 160 MWh of battery storage across commercial, municipal, and community sites. Under the contemplated structure, NeoVolta would receive a right of first refusal to supply its battery energy storage systems for the projects, provided the equipment meets technical specifications and market-competitive pricing.

Based on Luminia’s current procurement planning, the two front-of-the-meter storage projects, totaling approximately 160 MWh, could represent an estimated $39 million in potential equipment revenue for NeoVolta. This estimate is preliminary and depends on final technical specifications, NeoVolta’s selection as the supplier, and the execution of definitive purchase agreements. No purchase obligation exists until such agreements are executed, and project scopes and timelines remain subject to change as development continues.

“We look forward to collaborating with Luminia as they advance their proposed CCA-related clean-energy projects across California,” said Ardes Johnson, CEO of NeoVolta. “NeoVolta’s U.S.-manufactured, IRA-aligned systems are well suited for these CCA resiliency and grid-support deployments, and we look forward to supporting Luminia in executing this important work.”

“At Luminia, we focus on bringing forward clean-energy projects that deliver real local impact and long-term value,” said David Field, CEO of Luminia. “As our development work advances, we’re excited to build on our collaboration with NeoVolta as we evaluate technologies capable of supporting the scale, resiliency, and performance our deployments demand.”

Strategic Alignment with NeoVolta’s Growth Roadmap

A potential supply agreement of this scale would reinforce NeoVolta’s long-term strategic goals:

• Expansion beyond residential into C&I and utility-scale opportunities
• Evolution toward recurring and higher-margin revenue streams through equipment supply and developer partnerships
• Leveraging IRA domestic-content incentives and California rebate programs
• Strengthening presence in the nation’s largest and fastest-growing energy storage market

NeoVolta and Luminia are continuing to coordinate on potential delivery schedules, engineering requirements, and procurement sequencing for the awarded programs. Both parties are working toward completing final specifications and NeoVolta will provide updates on material developments as appropriate.

About NeoVolta

NeoVolta is a leading innovator in energy storage solutions dedicated to advancing the future of clean energy.  Founded to provide reliable, sustainable, and high-performance energy storage systems, the Company has quickly established itself as a critical player in the industry. ​ NeoVolta’s flagship products are designed to meet the growing demand for efficient energy management in residential and commercial applications. ​ 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.

For more information visit: www.NeoVolta.com

About Luminia

Headquartered in San Diego, Luminia is a renewable energy developer accelerating the transition to local commercial and community-based solar and energy storage. Luminia partners with businesses, property and portfolio owners, Community Choice Aggregators (CCAs) and local communities to design, finance, build and operate distributed clean energy projects that deliver energy savings and lasting value. For more information, visit https://luminia.io.

Forward-Looking Statements

This press release contains forward-looking statements. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "plan," "ongoing," "goal," "explore," "framework," and "expect," as well as similar expressions, are intended to identify forward-looking statements. Forward-looking statements in this press release include, without limitation, our ability to secure binding purchase commitments from Luminia or other customers; Luminia's ability to obtain necessary permits, financing, and regulatory approvals for its projects; our ability to meet technical specifications and competitive pricing requirements; and any estimates on potential revenue from the projects. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors, including the risks outlined in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. We assume no obligation to publicly update any forward-looking statements after the date of this press release.

Contacts

NEOV Investors
Alliance Advisors IR
ir@neovolta.com

NEOV Media
Email: press@neovolta.com
Phone: 800-364-5464

FAQ

What did NeoVolta (NEOV) announce on December 11, 2025 about Luminia projects?

NeoVolta said it advanced a non-binding collaboration with Luminia to potentially supply battery systems for California solar-plus-storage projects.

How much storage capacity could NeoVolta supply under the contemplated Luminia projects?

Luminia’s developments include approximately 160 MWh of battery storage across planned projects.

What is the estimated potential equipment revenue for NEOV from the two FTM projects?

The two front-of-the-meter projects could represent an estimated $39 million in potential equipment revenue.

Is NeoVolta guaranteed to supply the Luminia projects?

No; the framework is non-binding, and supply depends on final specifications, competitive pricing, and executed agreements.

How might the Luminia collaboration affect NeoVolta’s market focus?

The collaboration aligns with NeoVolta’s move into C&I and utility-scale opportunities and aims to increase recurring equipment revenue.