NeoVolta’s Backup System Saves MDX Labs’ Lifesaving Medications During Multiple Grid Outages
Commercial Battery Backup System Has Prevented the Loss of MDX’s Critical Functions and Thousands of Dollars in Inventory During Numerous Power Failures
SAN DIEGO, May 09, 2023 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) – , manufacturer of Smart Energy Storage Solutions, has kept MDX Labs protected during multiple grid outages with reliable battery backup. Thanks to NeoVolta, the laboratory’s critical functions (refrigeration, server, and lights) have kept running, saving thousands of dollars while sustaining lifesaving medications and vaccines.
Founded in 2020, Henderson-based is the top privately held molecular and clinical diagnostic laboratory in the state of Nevada. MDX provides on-site testing services to a range of manufacturers, casinos, entertainers, restaurants, and nonprofit organizations, and it is the official overflow laboratory for the Southern Nevada Health District.
MDX Labs houses large quantities of vaccines, patient samples, and medications that require refrigeration. When grid outages occurred in the past, MDX would often lose tens of thousands of dollars in product and face periods of product unavailability while awaiting restock. In late 2021, MDX began searching for a battery backup system and discovered NeoVolta, which features a clean lithium iron phosphate battery and a hybrid inverter that can accept 208-volt power connections. NeoVolta can also charge from the power grid, eliminating the need for solar installation. In March 2022, MDX Labs installed NeoVolta’s NV14 Energy Storage System.
“Being able to support commercial facilities that are powered with 208-volt electricity is an amazing capability. Transformers are not required, which saves customers thousands of dollars and eliminates loud equipment that gives off radiant heat,” said Brent Willson, CEO of NeoVolta. “Our energy storage solutions are a very smart investment, especially considering the cost and consequence of an outage that would result in the loss of vital medical supplies and medications. We are thrilled to be partnering with MDX, a world-class clinical diagnostic laboratory.”
NeoVolta storage systems are designed for safety and performance. They use lithium iron phosphate battery chemistry, the nonflammable and nontoxic alternative to lithium ion. NeoVolta’s flagship has a very high storage capacity of 14.4 kilowatt-hours, expandable to 24.0 kWh with the optional —without the expense of a second inverter. The system’s inverter discharges 7.7 kilowatts of instantaneous power, more than most mainstream competitors.
For its superior safety, performance and compatibility with any solar system, new or existing, the NV14 has been named four years in a row.
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.
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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.
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