SAN DIEGO, Oct. 07, 2025 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ:NEOV) entered into on October 1, 2025 an asset purchase agreement for the purchase of strategic assets of Neubau Energy pursuant to its letter of intent announced on September 10, 2025 [link]. The acquisition is expected to close by October 15, 2025. Concurrently, NeoVolta hired Neubau executives, naming Amany Ibrahim as chief operating officer and Thomas Enzendorfer as chief technology officer. Michael Mendik, the company's previous chief operating officer, will continue with the company and serve as its chief product officer.

"Merging Neubau's talent and next-gen battery manufacturing platform is a significant milestone in executing our growth multi-channel strategy. As the transaction accelerates our residential energy storage market penetration, we expect it to be immediately accretive to revenue and gross margins," said Ardes Johnson, Chief Executive Officer of NeoVolta. "Operational integration is underway, and Neubau's revolutionary 30-minute installation systems are already available for order under the NeoVolta brand. Also, Neubau's technology portfolio and manufacturing know-how are expected to provide us tariff-free access to advanced battery technology. At Neubau, Amany has spearheaded strategy, product innovation, and market expansion and Thomas led manufacturing and distribution. We are excited they will strengthen our team and support our aggressive growth plans."

Ibrahim said, "Our entire team is excited to join NeoVolta and take on leadership roles that enable us to accelerate the adoption of our technology, which delivers the first truly modular residential battery system with the highest energy density in its class. Our modular systems drive dramatic reductions in deployment costs, making the entire value chain more efficient."

Transaction Summary  

The acquisition is expected to accomplish the following:

Strengthen the Team by ...