NeoVolta To Acquire Strategic Assets Of Neubau Energy's Next-Gen Battery Platform

(RTTNews) - NeoVolta Inc. (NEOV), Tuesday announced an agreement to purchase strategic assets of Neubau Energy's next-gen battery manufacturing platform.

As per the terms of the deal, NeoVolta paid an initial consideration of $500,000 cash and 200,000 shares of restricted common stock. Additionally, it has agreed to unit royalty payments of $10 each on sales of neuClick Battery Modules for a period of three years.

Moreover, it has also agreed to issue up to an additional 4.0 million shares of NeoVolta restricted common stock, which become issuable to Neubau upon achieving certain revenue milestones.

The transaction, set to close by October 15, 2025, is estimated to be immediately accretive to revenue and gross margins.

As part of the deal, NeoVolta has appointed Neubau's Amany Ibrahim as chief operating officer and Thomas Enzendorfer as chief technology officer.

In the pre-market hours, NEOV is trading at $5.37, up 2.87 percent on the Nasdaq.