Neutral
GlobeNewsWire
2 months ago
NeoVolta Advances Strategic Collaboration with Luminia to Supply Up to 160 MWh of Energy Storage in California
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:
