10:45 AM EDT, 09/17/2024 (MT Newswires) -- NeoVolta ( NEOV ) said Tuesday its energy storage systems will be installed in up to 1,000 homes in Puerto Rico under a partnership with the nonprofit organization Barrio Electrico.

The initiative is part of a $21 million award received by Barrio from the Department of Energy.

NeoVolta ( NEOV ) said the first shipments are expected to start in September, with revenue projected "in excess of" $8 million from the full deployment of the program.

NeoVolta ( NEOV ) shares were up 3.4% in recent trading.

Price: 3.36, Change: +0.11, Percent Change: +3.38