One & One Green Technologies stock soars 100% after IPO debut
SAN DIEGO - NeoVolta Inc. (NASDAQ:NEOV), currently valued at $178.6 million and showing strong momentum with a 17% gain last week, has entered into an asset purchase agreement to acquire strategic assets from Neubau Energy, according to a press release issued Tuesday. The transaction, which follows a previously announced letter of intent from September 10, is expected to close by October 15.
As part of the acquisition, NeoVolta has appointed two Neubau executives to leadership positions: Amany Ibrahim as chief operating officer and Thomas Enzendorfer as chief technology officer. Michael Mendik, NeoVolta’s previous COO, will transition to the role of chief product officer.
The acquisition includes initial consideration of $500,000 in cash and 200,000 shares of restricted common stock. The agreement also includes royalty payments of $10 per neuClick Battery Module sold over three years and up to 4 million additional shares of restricted stock contingent on revenue milestones through December 2028.
NeoVolta CEO Ardes Johnson said Neubau’s 30-minute installation systems are already available for order under the NeoVolta brand as operational integration proceeds.
The transaction is expected to strengthen NeoVolta’s executive team, expand market opportunities through faster installation times, integrate new high-density energy storage technology, mitigate the impact of anticipated 2026 battery tariffs, and increase the company’s intellectual property portfolio.
Neubau Energy, founded in 2023, developed a modular residential battery system with patents covering its architecture. The company’s Austrian manufacturing base provides tariff advantages for the U.S. residential storage market.
Ibrahim previously served as Neubau’s chief strategy officer, while Enzendorfer was the company’s CEO and also managed Neubau Energy GmbH in Vienna.
In other recent news, NeoVolta Inc. reported a significant 219% increase in annual revenue for fiscal year 2025, reaching $8.4 million, up from $2.6 million the previous year. The company’s fourth-quarter revenue also saw a notable rise, with a 720% increase compared to the same period last year. NeoVolta unveiled its new commercial and industrial battery energy storage system and NV16kW AC hybrid inverter at the RE+ 2025 conference. This new system is designed for scalable deployments and supports various energy management functions. Additionally, NeoVolta announced plans to acquire strategic assets from Neubau Energy to bolster its residential energy storage market presence. The company is already taking orders for Neubau’s installation systems under the NeoVolta brand. The new 16kW hybrid inverter, set for pre-order at the RE+ 2025 trade show, will be generally available in November 2025. This inverter offers compatibility with existing solar installations and is suitable for both indoor and outdoor use.
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