NeoVolta Expands Market Reach with New Approvals from EnFin Solar Loans and Sungage Financial
Rhea-AI Summary
NeoVolta Inc. (NASDAQ: NEOV) has expanded its market reach through new approvals from EnFin solar loans and Sungage Financial. EnFin, a subsidiary of Qcells, has added NeoVolta's NV14 and NV24 energy storage systems to its Approved Vendor List (AVL). Sungage Financial has expanded NeoVolta's presence on its AVL by including the NeoVolta NV7600 inverter, in addition to previously approved battery equipment.
These approvals come at a time of increasing demand for sustainable energy solutions. NeoVolta's systems are designed to provide long-lasting, safe, and efficient energy storage, with their inverters known for reliability. The expanded partnerships aim to make solar energy more accessible to a broader audience, offering enhanced energy security and reliability through NeoVolta's innovative storage solutions.
Positive
- NeoVolta's NV14 and NV24 energy storage systems added to EnFin solar loans' Approved Vendor List
- Sungage Financial expanded NeoVolta's presence by including the NV7600 inverter in addition to battery equipment
- Increased market reach through partnerships with two major solar financing providers
- Potential for increased sales and adoption of NeoVolta's products
Negative
- None.
News Market Reaction
On the day this news was published, NEOV gained 2.01%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: NEOV), NeoVolta Inc., a leader in advanced energy storage solutions, announces significant expansions in their market reach through new approvals from both EnFin solar loans and Sungage Financial.
EnFin Solar Loans Approval
NeoVolta’s NV14 and NV24 energy storage systems have been added to the Approved Vendor List (AVL) of EnFin solar loans. EnFin, a subsidiary of Qcells—a major manufacturer of residential solar panels in the United States—provides solar financing solutions for solar panels, batteries, and roofing. This addition aims to make solar energy more accessible to a broader audience, offering enhanced energy security and reliability through NeoVolta’s innovative storage solutions.
Sungage Financial Expansion
In a parallel development, Sungage Financial has expanded NeoVolta’s presence on its AVL with the inclusion of the NeoVolta NV7600inverter. Sungage Financial, a leading provider of residential solar financing operating in 33 states and Washington D.C., previously approved NeoVolta solely for its battery equipment. The addition of NeoVolta’s inverters marks a significant expansion of their partnership, enabling Sungage to finance comprehensive residential solar projects that include both NeoVolta’s battery and inverter equipment.
“We are delighted to expand our relationship with these two financial institutions,” said Ardes Johnson, CEO at NeoVolta. “This approval broadens our market reach and reinforces our commitment to offering reliable and efficient solar energy solutions. We look forward to continued collaboration and success in promoting residential solar adoption.”
Meeting the Rising Demand for Sustainable Energy
These approvals come at a pivotal time when the demand for sustainable energy solutions is surging, driven by increased environmental awareness and the economic benefits of solar power. NeoVolta’s systems are designed to provide long-lasting, safe, and efficient energy storage, with their inverters known for reliability and efficiency. The combined offerings of NeoVolta’s battery and inverter solutions provide a comprehensive approach to meeting residential solar energy needs.
With these endorsements, more installers and homeowners will have access to NeoVolta’s cutting-edge energy storage systems, ensuring enhanced energy security and reliability for a growing number of residential solar projects.
About Sungage Financial
Sungage Financial is dedicated to helping homeowners save money on energy through simple, affordable financing solutions for residential solar projects. With a focus on excellent customer service and innovative financial products, Sungage Financial partners with a network of solar installers to make solar ownership easy and accessible.
About EnFin Solar
EnFin Solar, a subsidiary of Qcells, is dedicated to making solar energy more accessible through comprehensive financing solutions. Specializing in loans for solar panels, batteries, and roofing, EnFin Solar aims to empower homeowners and businesses to adopt sustainable energy practices. By partnering with leading technology providers and offering flexible financing options, EnFin Solar supports the widespread adoption of clean energy, contributing to a greener and more sustainable future.
About NeoVolta
NeoVolta designs, develops and manufactures advanced energy storage systems that offer efficient and reliable solutions for residential and industrial applications. The company’s flagship product, the NV14, is designed with a focus on safety using non-toxic, non-flammable LiFe(PO4) battery chemistry. The NV14 features a high-capacity 14.4 kWh storage system, a robust 7,680-watt inverter, and a cutting-edge web-based management system, making it one of the leading choices for sustainable energy storage nationwide.
For more information visit: NeoVolta.com email us: IR@NeoVolta.com or call us: 858-239-2349
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 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.
FAQ
What new approvals has NeoVolta (NEOV) received for its energy storage systems?
How will the EnFin and Sungage Financial approvals affect NeoVolta's (NEOV) market reach?
What products does NeoVolta (NEOV) offer in the solar energy market?
How does the expansion with Sungage Financial differ from NeoVolta's (NEOV) previous approval?
