Expion360 Issues Stockholder Letter and Provides Corporate Update - Seite 2

We entered new markets in 2023 with the introduction of new battery solutions for LEV and new home energy systems. Our exclusive e360 SmartTalk battery was our first foray into both the smart battery market and LEV market, a 48 Volt GC2 LiFePO₄ battery engineered for LEVs, combining intelligent wireless mobile management capabilities and outstanding capacity with superior construction and durability. In late 2023, we entered the home energy storage market with the introduction of two premium LiFePO₄ battery storage systems, which enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages. As a result of increasing power interruptions, brownouts and outages in many parts of the U.S., there is a demand for a solution that can help homeowners maintain their safety, security and comfort during these periods. Our goal is to help homeowners purchase and have professionally installed, our home energy storage systems by providing education on both the practical benefits and the many programs and incentives, including incentives available through California's Self-Generation Incentive Program and federal tax credits available through the Inflation Reduction Act for home battery systems. In addition, our energy storage systems program with Renewable Energy Products Manufacturing Corp. (REPM) is an important first step in introducing our new and innovative solutions for the renewable energy space. This year, we aim to deliver home energy storage systems with leading-edge technology and further our mission of creating a sustainable future, and we expect that the first installations of our home energy storage systems will begin in the second half of 2024.

Strong Partnerships & Marketing Expand Market Opportunity

New partnerships, agreements with OEM strategic suppliers, and expanded sales and distribution partnerships further broadened our market opportunities in new and existing verticals last year. During 2023, we became a strategic supplier of high-energy lithium-ion batteries and power system components for Cube Series’ new ultra-lightweight, hard-sided foldable camper, designed for light duty trucks. In addition, Chinook RV, a top name in the RV industry and a recognized leader in quality and innovation, chose us as a strategic supplier of lithium-ion batteries for its off-grid power systems. Our sales and distribution partnership with Meyer Distributing, a leading national marketer and distributor of automotive and RV specialty products, was expanded to now include more than 90 warehousing facilities across the U.S. and Canada that service thousands of customers and hundreds of dealers. As we begin 2024, Expion360 lithium-ion batteries are available through more than 300 dealers, wholesalers, private-label customers and OEMs nationwide.