NeoVolta Smart Edge Infrastructure Partner EOS Linx Increased Deployments by 150% in 2023, Plans to More than Double Network in 2024
NeoVolta Inc. announces a 150% increase in EV deployments by partner EOS Linx in 2023, utilizing the NV-14 energy storage technology to enhance EV charging stations across various locations. The partnership aims to double expansion in 2024, providing reliable and accessible charging solutions for electric vehicles.
The recent update from NeoVolta Inc. regarding their NV-14 energy storage technology's role in EOS Linx's EV infrastructure expansion presents a significant development in the energy storage and electric vehicle sectors. The NV-14's Lithium Iron Phosphate system offers a safer alternative to traditional lithium-ion batteries, mitigating the risk of thermal runaway. This technology enables reliable charging stations that can function under stress, a key factor for widespread EV adoption.
With a 150% increase in deployed EV charging stations in the past year and plans to double expansion in 2024, EOS Linx's growth trajectory is noteworthy. This rapid expansion is indicative of the burgeoning demand for EV infrastructure, driven by the global shift towards electric mobility. The integration of media screens at charging stations also highlights a creative approach to monetization, providing an additional revenue stream through advertising.
From an investment perspective, the scalability of NeoVolta's NV-14 technology and its application in various business verticals such as healthcare and education could signal a diversification of revenue sources and potential market share increase. The long-term implications include the strengthening of NeoVolta's position in the market and possible uplift in stock valuation, contingent on successful deployment and operational efficiency.
NeoVolta's announcement reflects broader industry trends where partnerships between technology providers and infrastructure developers are pivotal. The strategic alliance with EOS Linx allows NeoVolta to tap into the growing EV market, which is expected to see increased demand for charging solutions as EV adoption accelerates. This partnership could position both companies favorably within an expanding market ecosystem.
The adoption of NeoVolta's NV-14 energy storage solutions in non-residential settings, such as medical centers and schools, suggests a versatile application of their technology. This versatility could be a competitive advantage, as energy storage demands diversify beyond residential use. The partnership's ability to capture new revenue verticals and local government contracts may also lead to an improved financial outlook for NeoVolta.
For stakeholders, the expansion of EV charging stations represents a commitment to growth and innovation. However, the success of this expansion will rely on the continued performance and reliability of the NV-14 technology, as well as the broader market's reception of electric vehicles. Investors should monitor the deployment of new stations and the uptake of EVs to assess the potential impact on NeoVolta's financial health.
Analyzing the financial implications of NeoVolta's partnership with EOS Linx, the 150% increase in EV charging stations deployment suggests a substantial rise in demand for NeoVolta's NV-14 energy storage systems. This demand could translate into increased revenue and profitability for NeoVolta, assuming cost controls and efficient scale-up operations are maintained.
The announcement of three new product offerings tailored to new business verticals indicates an aggressive growth strategy and innovation within the company's product line. NeoVolta's diversification into additional sectors such as healthcare and government could help hedge against market volatility and reliance on a single revenue stream.
Investors should consider the potential for NeoVolta's stock to respond positively to these developments, especially if the company's expansion and product integration continue to meet market needs. However, they should also be aware of the risks associated with rapid expansion, such as increased capital expenditures and the need for continuous technological advancements to maintain a competitive edge.
03/26/2024 - 08:55 AM
San Diego-based solar battery storage leader has helped EV infrastructure partner increase its presence at places like medical centers, casinos, and school sites with NV-14 energy storage technology
SAN DIEGO, March 26, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: NEOV) – NeoVolta Inc. EOS Linx 150% in 2023.
“We are pleased to see our partnership with EOS Linx pay dividends as we expected,” said Brent Willson, CEO at NeoVolta Inc. “While the NV-14 is known as providing safe and powerful energy storage for homes, we recognize the need to serve roadside charging networks to match the growing EV-driving audience.”
Tennessee-based EOS Linx has been making waves recently thanks to the high deployment rates of its EV charging network. EOS utilizes NeoVolta NV-14 technology in its stations to help provide effective charging solutions for electric vehicles. The company increased its number of nationally-deployed EV charging stations by 150% in 2023 and plans to double its expansion in 2024.
“We built EOS from the ground up to provide reliable, accessible EV charging where drivers need it most,” said Blake Snider, CEO of EOS Linx. The statement echoed Snider’s 2022 remarks at the start of the partnership, “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.”
At each EV charging station, the partnership between NeoVolta and EOS creates an enhanced driver experience by pairing superior charging capabilities with screens that play media for users and passers-by during charges. These stations provide a valuable additional revenue stream, giving advertisers new formats to insert marketing spots as customers are at the stations.
The NV-14 is a critical component of these stations, giving EOS access to a safe and efficient battery storage system to help power its customers and get them back on the road. This efficacy has led to higher adoption rates and has allowed EOS to develop new partnerships across the country with local utilities and new revenue verticals such as healthcare, school systems, and local governments.
“The EV driver charging experience has evolved, and more properties understand the value of allowing drivers the ability to plug in while they tend to their normal day-to-day activities. We are proud to share this partnership with EOS Linx.”
NeoVolta prides itself on not only being one of the nation’s top home solar battery storage providers but also being able to help its partners reach new heights with their charging initiative. The NV-14 has built a reputation for itself thanks to its unique Lithium Iron Phosphate system, which has a significantly reduced risk of thermal runaway, especially when compared to lithium-ion counterparts.
This heat resistance and level of reliability means that EOS EV charging kiosks operate in a stable environment, even during overcharging or short-circuit conditions where other battery storage providers may not be able to function.
The NeoVolta team is proud to partner with EOS Linx to continue its expansion efforts with the introduction of three new product offerings last year that were purpose-built to work with their new business verticals.
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.
For more information visit: http://www.NeoVolta.com IR@NeoVolta.com 858-239-2029
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.
How much did EOS Linx increase its EV deployments by in 2023?
EOS Linx increased its EV deployments by 150% in 2023.
What technology does EOS Linx utilize in its EV charging stations?
EOS Linx utilizes NeoVolta NV-14 technology in its EV charging stations.
What new revenue verticals has EOS Linx entered into?
EOS Linx has entered new revenue verticals such as healthcare, school systems, and local governments.
What is unique about the NV-14 energy storage technology?
The NV-14 energy storage technology has a unique Lithium Iron Phosphate system, reducing the risk of thermal runaway compared to lithium-ion counterparts.
How has the partnership between NeoVolta and EOS Linx enhanced the EV charging experience?
The partnership has enhanced the EV charging experience by providing superior charging capabilities and media screens for users and passers-by during charges.
