New LiFePO4 Battery Cell Technology Advances Planned Expansion into Home Energy and Other Verticals with a More Competitive Solution that Delivers Greater, Smarter Clean Power in the Same Form Factor
REDMOND, OR / ACCESSWIRE / September 14, 2023 / Expion360, Inc. (NASDAQ:XPON), an industry leader in lithium-ion battery power storage solutions, has introduced a new 12 Volt 450 Ah e360 SmartTalk™ lithium iron phosphate (LiFePO4) battery featuring breakthrough cell technology that increases energy density by more than 32 percent as compared to traditional 3.4 Ah 26650 cells.
Delivering this energy-dense technology is an advanced re-engineered 4.5 Ah 26650 lithium-ion cell encased in a specially designed cylindrical body. The technological advancement is due to a new proprietary anode/cathode designthat increases the energy density by nearly a third while maintaining the similar cost weight and size of traditional cells.
The new battery and cell technology addresses the fast-growing global lithium-ion battery market projected to grow at a 13.2% CAGR to reach $93.3 billion by 2028, according to IMARC.
"The introduction of this breakthrough advancement in lithium cell technology demonstrates our commitment to delivering leading-edge solutions for our customers and OEM partners," stated Expion360 president and COO, Paul Shoun. "We believe by offering more smart clean power in same form factor provides us an important competitive advantage in our existing RV, overland, marine and golf markets, and especially for our planned launch for home energy and industrial applications."
The company expects its expansion into home energy to benefit from a fast-growing battery energy storage market which is forecasted by MarketsandMarkets to grow at a 26.4% CAGR to reach $17.5 billion by 2027.
As with all e360 batteries, the new 450 Ah e360 SmartTalk™ combines outstanding capacity and great aesthetics, with superior construction and durability for rugged outdoor environments.
The new battery also features Expion360's recently introduced Bluetooth smart technology that is controlled by the new e360 SmartTalk™ app, available for free on Apple and Android mobile devices. The intuitively designed app enables the seamless integration and wireless management of any e360 Bluetooth-enabled lithium battery.
The new 450 Ah battery is the company's second Bluetooth-enabled e360 SmartTalk™ battery to launch this year. In June, the company announced a 48 Volt GC2 LiFePO4 e360 SmartTalk battery which was specially engineered to set a new standard for powering electric golf carts and other light electric vehicles (LEVs). The system is designed to be especially useful for LEV operators and especially those managing multiple vehicles.
"We see our first two Bluetooth enabled batteries as just the beginning of an expanding lineup of e360 SmartTalk-ready solutions that we anticipate to be in high demand for both existing and future product applications," added Shoun. "We expect the superior customer experience provided by these solutions to broaden our market reach, further strengthen customer loyalty, and clearly stake out our competitive edge for new buyers."
Expion360 expects to begin taking pre-orders for the new 450 Ah e360 SmartTalk battery starting in the fourth quarter of this year, with shipments beginning in the first quarter of 2024.
Expion360 Li-ion batteries are available through more than 300 dealers, wholesalers, private-label customers and OEMs nationwide. For more information about Expion360 and its advanced battery solutions, please visit www.expion360.com.
Expion360 is an industry leader of premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications,with residential and industrial applications under development.
The company's lithium batteries feature half the weight of standard lead-acid batteries while delivering three times the power and 10 times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other Li-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.
The company is headquartered in Redmond, Oregon. Expion360 Li-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the company, visit expion360.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Examples of such forward-looking statements include statements regarding our expectations regarding our business strategies and plans, growth opportunities and competitive position, the expected growth of the global lithium-ion battery market and battery energy storage market, our planned launch of products for home energy and industrial applications, our future lineup of e360 SmartTalk-ready solutions, the expected timeline for taking pre-orders for the new 450 Ah e360 SmartTalk battery starting in the fourth quarter of this year with shipments beginning in the first quarter of 2024 and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate," or similar expressions. Because forward-looking statements relate to the future, such forward-looking statements involve significant risks, uncertainties, and assumptions that are difficult to predict and many of which are outside our control. Actual results could differ materially from those indicated in the forward-looking statements. Factors that could cause such differences include, among others, the competitive nature of our industry and the pricing pressures that we face, our history of losses and increasing costs, our ability to continue as a going concern, our dependency on the needs and success of our customers and our substantial customer concentration, any inability to successfully manage our growth, the impact of public health epidemics or outbreaks, our ability to expand our sales and distribution channels, our ability to expand into international markets, the limited number of ports through which our raw materials enter the United Sates and our reliance on third parties to store and ship certain inventory, uncertainty in the global economic condition, any government reviews, inquiries, investigations and other actions, changes in the cost and availability of raw materials, our dependency on third-party manufacturers and suppliers and increases in the cost or disruption of supply or shortages in any of our raw materials, battery components or raw materials used in the production of such parts, our dependency on our two warehouse facilities, the risk that lithium-ion battery cells may catch fire or release smoke and flame, potential product liability claims, risks related to litigation, tax, environmental and other legal compliance, any failure to introduce new products and product enhancements and market acceptance of new technologies introduced by our competitors, any failure by us to adequately protect our intellectual property or to defend ourselves against intellectual property infringement claims, quality problems with our products, our ability to raise capital, risks related to our electronic data becoming compromised, our dependency on our senior management team and other key employees, any failure to keep pace with developments in technology and those discussed in our filings with the SEC. Investors should read the risk factors set forth in the Company's previous filings, subsequent filings, and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that forward-looking statements are not historical facts and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether as a result of new information, future events or otherwise, except as required by law.
Brian Schaffner, CEO
Tel (541) 797-6714
Expion360 Investor Contact:
CMA Investor Relations
Tel (949) 432-7566
Expion360 Media Contact:
CMA Media Relations
Tel (949) 432-7572
SOURCE: Expion360 Inc.