Expion360 Issues Stockholder Letter and Provides Corporate Update

REDMOND, Ore., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, today issued a letter to its stockholders from Brian Schaffner, Chief Executive Officer.

Expion360 CEO Brian Schaffner

Dear Stockholders,

2023 was a year of diversification and expansion for Expion360, underscored by exciting new products, market categories and technology innovation. Sales for our product offerings were driven by expanded distribution partnerships and OEM market penetration. Throughout the year, our focus was on developing new products, including our new home energy storage systems (ESS), which launched in late 2023, and several new products we plan to launch in 2024. We have evolved to capture a leading position in the premium lithium iron phosphate (“LiFePO₄”) batteries and accessories market by offering products for recreational vehicles, marine applications, light electric vehicles (“LEV”), and residential and commercial energy storage systems.

AURA Powercap 600W Inverter (left) and E360 All in One Home ESS (Energy Storage System) (right)

Innovative New Products & Accessories Drive Growth

We continued to build upon our growing customer base by attracting new customers with the introduction of new products, expanding our reach into high-growth industry verticals. For example, in January 2023 we expanded our product portfolio with the introduction of our AURA POWERCAP battery accessory, which can transform Expion360 lithium-ion batteries into a portable 600-watt portable powerpack. We believe the AURA POWERCAP is a great value-add to our existing line of state-of-the-art lithium-ion batteries, expanding our batteries’ usefulness as a mobile power source. We also launched e360 SmartTalk, an innovative mobile app that enables the seamless integration and wireless management of e360 Bluetooth-enabled LiFePO₄ batteries. We advanced our industry leadership and strengthened our competitive position with the introduction of our new 12 Volt 450 Ah e360 SmartTalk LiFePO₄ battery, which utilizes breakthrough cell technology to increase energy density by up to 32% versus traditional 3.4 Ah 26650 cells.