NeoVolta partners with Luminia for energy storage in California

NeoVolta (NEOV) is advancing a strategic collaboration with 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 and behind-the-meter 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. The two front-of-the-meter storage projects, totaling approximately 160 MWh, could represent an estimated $39M in potential equipment revenue for NeoVolta.