POWAY, Calif., June 13, 2023 (GLOBE NEWSWIRE) -- NeoVolta (NASDAQ: NEOV), a solar battery manufacturer and developer of smart residential energy storage solutions, will join the Russell Microcap^® Index following the 2023 Russell indexes annual reconstitution, which takes effect once the U.S. market opens on June 26, 2023. 

Membership in the Russell Microcap^® Index, which is a one-year term, allows for automatic inclusion in relevant growth and value-style indexes. 

FTSE Russell determines membership for its indexes based on objective market capitalization rankings and style attributes, and serves as the benchmark for approximately $16 trillion in assets. Investment managers and institutional investors heavily rely on Russell indexes as benchmarks for their investment strategies.

“We’re honored to join the Russell Microcap^® Index this year, one of the most esteemed performance benchmarks for emerging U.S. companies,”  says Brent Willson, CEO of NeoVolta. “We were listed on the NASDAQ just last year, so we see this as a testament to NeoVolta’s growing presence in the solar and energy storage markets.”

Being included in the Russell Microcap^® Index is a significant milestone for NeoVolta. It highlights the market’s recognition of the company’s growth in the solar energy storage industry, serving to enhance NeoVolta’s presence and authority within the broader energy landscape.

About NeoVolta
NeoVolta designs, develops, and manufactures advanced energy storage systems for both residential and industrial use. Its storage solutions are engineered with lithium iron phosphate (LiFe(PO4)) battery chemistry, which is clean, nontoxic, and nonflammable. The residential-focused NeoVolta NV14 is equipped with a solar-rechargeable 14.4 kWh battery system, a 7,680-Watt inverter, and a web-based energy management system with 24/7 monitoring. The system’s 6,000-cycle battery life, one of the longest on the market, translates to 16.5 years of useful life, based on a full charge, and discharge each day. The NV14 has passed the product safety standards set forth by Underwriters Laboratories (UL) for battery energy storage safety testing.

About FTSE Russell
FTSE Russell is an international index leader providing benchmarking, analytics, and data solutions for investors across the globe. It calculates thousands of indexes which measure and benchmark markets and asset classes in over 70 different countries, covering 98% of the investable market globally. For over 30 years, high-level asset owners, managers, ETF providers, and investment banks have trusted FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.

For more information visit: http://www.NeoVolta.com email us: IR@NeoVolta.com or call us: 858-239-2029

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 press release include, without limitation, the future performance, reliability and safety of NeoVolta’s NV14 storage system and the ability of the NV14 to be successfully integrated with residential backup generators. Although NeoVolta 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. NeoVolta 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 the "Risk Factors" section of NeoVolta’s Form 1-A filing filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. NeoVolta 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8064f66-1a9d-43e4-b3b0-d15b180a5fa2