NeoVolta (NEOV) said Wednesday it has signed a non-binding letter of intent with Expion360 (XPON) for a potential collaboration to set up a battery manufacturing facility and develop lithium-ion battery cell and module product designs.
Under the deal, Expion360 would contribute its know-how in design and engineering, while NeoVolta would provide the required capital and manpower, the company said.
NeoVolta said it recently finalized the first phase of a loan application for $250 million from the US Department of Energy Title 17 loan program and has been approved to proceed for the second phase.
To meet US content requirements for battery electric storage systems and other components, NeoVolta must set up a plant that can accommodate more than 150 employees, the company said.
Price: 4.95, Change: -0.08, Percent Change: -1.55
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。