NeoVolta enters asset purchase agreement for Neubau Energy’s battery platform

NeoVolta (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. The acquisition is expected to close by October 15, 2025. Concurrently, NeoVolta hired Neubau executives, naming Amany Ibrahim as COO and Thomas Enzendorfer as CTO. Michael Mendik, the company’s previous COO, will continue with the company and serve as its chief product officer. The acquisition is expected to accomplish the following: Strengthen the Team by integrating Neubau’s executives into technology and operational leadership positions. Expand Market Opportunity by offering sub-30-minute installation times, opening new installer networks and reducing typical deployment costs by 75%. Integrate New Technology with Neubau’s high energy density residential energy storage system modules with truly modular architecture. Mitigate Tariffs by reducing the impact of 2026 battery tariffs. Increase the IP Portfolio by adding patents covering advanced modular battery architecture. Broaden Installer Base with specialized technicians to any licensed electrician. For the purchase of certain assets of Neubau, NeoVolta Paid initial consideration of $500,000 cash and 200,000 shares of restricted common stock; Agreed to provide unit royalty payments of $10 each on sales of neuClick Battery Modules for a period of three years; and Agreed to issuing up to an additional 4.0 million shares of NeoVolta restricted common stock, which become issuable to Neubau upon achieving certain revenue milestones from the sale of products that utilize Neubau’s neuClick Battery Modules prior to December 31, 2028.