SAN DIEGO, April 21, 2026 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) ("NeoVolta" or the "Company"), a U.S.-based energy technology company delivering scalable energy storage solutions, today announced an updated ownership structure for NeoVolta Power, LLC, its U.S. battery energy storage system manufacturing joint venture in Pendergrass, Georgia.

Under the revised structure, NeoVolta has increased its ownership interest in NeoVolta Power from 60% to 80%. The remaining 20% ownership interest will continue to be held by CCC (a U.S. subsidiary of PotisEdge) under the governing agreements. NeoVolta retains full board and operational control of NeoVolta Power and does not grant any minority investor the ability to direct or control key operational or strategic decisions.

The updated structure increases NeoVolta's economic participation in the platform while supporting alignment with evolving domestic manufacturing and incentive frameworks. The transaction requires no new cash capital deployment by NeoVolta.

In connection with the updated structure and expanded commercial agreement, NeoVolta has entered into a sales, marketing, and business development agreement with PotisEdge. NeoVolta agreed to issue approximately 1.2 million shares of common stock as consideration under the related agreements.

NeoVolta believes that its commercial relationship with PotisEdge can contribute to commercial development, market understanding, and customer engagement as NeoVolta Power advances toward commercial operations.

"This is an important step forward for NeoVolta," said Ardes Johnson, Chief Executive Officer of NeoVolta. "Increasing our ownership in NeoVolta Power strengthens our long-term economic interest in the platform while preserving operational control. At the same time, expanding this commercial arrangement adds meaningful market experience and commercial support."

A Stronger, Compliance-Aligned Structure

The updated ownership structure reflects NeoVolta's focus on building a domestic, compliant, and scalable energy storage manufacturing platform. By increasing its stake to 80%, NeoVolta expands its economic participation, simplifies governance, and further aligns the platform with U.S. regulatory frameworks, including simplifying eligibility for IRS Section 45X Advanced Manufacturing Production Tax Credits and Section 48E Investment Tax Credits.

NeoVolta will continue to consolidate NeoVolta Power's financial results under U.S. GAAP, with minority interests reflected as non-controlling interests.

Expanded Commercial Agreement and Go-to-Market Approach

A central element of this announcement is the expanded commercial agreement with PotisEdge. Under the new agreement, PotisEdge will contribute its experience, relationships, and commercial insight to support NeoVolta Power's business development efforts.

At the same time, NeoVolta is building its own internal sales and marketing capabilities. Together, these channels create a complementary go-to-market approach that combines NeoVolta's direct engagement with the commercial support provided by PotisEdge to enhance market understanding and customer engagement.

About NeoVolta

NeoVolta is an innovator in energy storage solutions dedicated to advancing reliable, high-performance power infrastructure for residential, commercial, and utility applications. With a focus on scalable technology, domestic manufacturing, and strategic partnerships, NeoVolta is positioned to support the accelerating transition toward resilient energy systems.

For more information, visit www.neovolta.com.

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 release include, without limitation, statements regarding the ability to raise additional capital, manufacturing capacity, production timelines, market opportunity, revenue potential, supply collaboration frameworks and potential order volumes, the expected expansion of strategic collaborations, and future operations. Although the Company 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. The Company 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 Item 1A. "Risk Factors" in the Company's most recently filed Form 10-K filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company 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.

Contacts

NEOV Investors

Bryan Baritot

Alliance Advisors IR

ir@neovolta.com

NEOV Media

Email: press@neovolta.com

Phone: 800-364-5464

NeoVolta Increases Ownership of NeoVolta Power to 80% and Expands Strategic Commercial Capabilities