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
