A couple of minutes ago Neovolta announced its systems will be installed into 1000 EOS Linx EV charging stations starting in Georgia state. Its energy-storing batteries will be distributed to hotel chains, gas stations, and convenience stores.
This news has pushed Nasdaq: NEOV shares up by 5%. Not many traders have reacted to the headline since Neovolta is not trending in market screeners but one may assume it will begin its journey by increasing to $10 value after receiving such huge orders in just one state.
By partnering with EOS Linx the company is not only providing batteries but a smart energy storing system that allows it to power the charging stations even when the sun isn’t shining. Company officials claim their batteries’ lifecycles are high since they are backed by lithium iron phosphate while ordinary lithium-ion batteries are usually flammable.