Ispire Technology Unveils Revolutionary "I-80" Vape Filling Machine at Benzinga Cannabis Capital Conference

Rhea-AI Summary

Ispire Technology Inc. (NASDAQ: ISPR) is set to unveil its revolutionary I-80 vapor device filling machine at the Benzinga Cannabis Capital Conference in Chicago on October 8-9. The I-80 promises to transform cannabis production efficiency with its ability to produce 4,000 fully filled and sealed vapor devices per hour, which is 10 times faster than traditional manual methods and twice as quick as current automated systems.

Key features of the I-80 include:

• Cost savings of $1,000 for every 10,000 units produced
• Elimination of separate capping process with Ispire's self-sealing devices
• Up to 1,000% boost in operational efficiency compared to manual methods
• Estimated 100% improvement over other automated systems

The I-80 is expected to attract significant interest from multi-state operators (MSOs), single-state operators (SSOs), and investors due to its potential to dramatically reduce costs and enhance productivity in the cannabis industry.

Positive

• Introduction of the I-80 vapor device filling machine with 4,000 units per hour capacity
• 10x faster production compared to manual methods, 2x faster than current automated systems
• Cost savings of $1,000 for every 10,000 units produced
• Elimination of separate capping process, improving efficiency by up to 1,000% over manual methods
• Estimated 100% improvement in efficiency over other automated systems

Negative

• None.

Groundbreaking Technology Is 2x Faster than Current Automated Systems, Promises 10x Efficiency Boost, Unmatched Efficiency and Cost Savings

LOS ANGELES, Oct. 2, 2024 /PRNewswire/ -- Ispire Technology Inc. ("Ispire" or the "Company") (NASDAQ: ISPR), a leader in the development and commercialization of vaping technology and precision dosing, is set to revolutionize the cannabis industry with its groundbreaking "I-80" vapor device filling machine. Unveiling at the  Benzinga Cannabis Capital Conference in Chicago on October 8 and 9, the I-80 promises to redefine production efficiency with its ability to produce 4000 fully filled and sealed vapor devices per hour.

The I-80 vapor filling machine sets a new standard in production capacity and efficiency for cannabis operators:

• Unprecedented Speed: 4,000 filled and sealed 0.5ml vapor devices per hour
• Efficiency Boost: 10x faster than traditional manual methods, 2x quicker than current automated systems
• Cost-Effective: Saves $1,000 for every 10,000 units produced
• Eliminates Capping: Ispire's self-sealing devices remove the need for separate capping, boosting overall workflow efficiency by 1,000% over manual methods and 100% over other automated systems

"The I-80 isn't just a machine; it's a game-changing solution to the capacity challenges that have hindered cannabis operators for years," said Michael Wang, Co-CEO of Ispire. "We're not just improving productivity – we're leading a paradigm shift in cannabis production efficiency. This innovation aligns with our mission to push the boundaries of technology for the benefit of our customers and the adult consumers they serve."

Redefining the Production Landscape
When paired with Ispire's self-sealing devices, the I-80 dramatically enhances operational efficency:

• Eliminates the need for separate capping
• Boosts operational efficiency by up to 1,000% compared to manual methods
• Delivers an estimated 100% improvement over other automated systems

The I-80's launch is poised to captivate multi-state operators (MSOs), single-state operators (SSOs), and investors. Its ability to slash costs and enhance productivity makes it an irresistible proposition for industry leaders looking to gain a competitive edge.
 Experience the I-80's groundbreaking capabilities in person at the Benzinga Cannabis Capital Conference, October 8-9, at the Marriott Magnificent Mile in Chicago, IL. To schedule a live demo and explore how the I-80 can transform your business, contact Ispire at Dennis Lider, SVP Cannabis at dennis.lider@getispire.com.

About Ispire Technology Inc.
Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company's operating subsidiaries own or license more than 200 patents worldwide. Ispire's branded e-cigarette products are marketed under the Aspire name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global distribution network. The Company also engages in original design manufacture (ODM) relationships with e-cigarette brands and retailers worldwide. The Company's cannabis products are marketed under the Ispire brand name primarily on an ODM basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware in the US, Europe and South Africa, and it recently commenced marketing activities and customer engagement in Canada and Latin America. For more information, visit www.ispiretechnology.com or follow Ispire on Instagram, LinkedIn, Facebook, Twitter and YouTube.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's ability to collect its accounts receivable in a timely manner, the Company's business strategies, the ability of the Company to market to the Ispire ONE™, Ispire ONE's success if meeting its goals, the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of their products on the markets; the Ispire ONE™ proving to be safe, and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note on Forward-Looking Statements" and the additional risk described in Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which Ispire makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

IR Contacts:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com

KCSA Strategic Communications
Phil Carlson
212.896.1233
ispire@kcsa.com

PR Contact:
Ellen Mellody
570.209.2947
EMellody@kcsa.com

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SOURCE Ispire Technology Inc.

FAQ

What is the production capacity of Ispire's new I-80 vape filling machine?

Ispire's new I-80 vape filling machine has a production capacity of 4,000 fully filled and sealed 0.5ml vapor devices per hour.

How much faster is the I-80 compared to manual and current automated systems?

The I-80 is 10 times faster than traditional manual methods and twice as quick as current automated systems in the cannabis industry.

What cost savings does the I-80 vape filling machine offer?

The I-80 vape filling machine offers cost savings of $1,000 for every 10,000 units produced.

When and where will Ispire Technology (ISPR) unveil the I-80 vape filling machine?

Ispire Technology (ISPR) will unveil the I-80 vape filling machine at the Benzinga Cannabis Capital Conference in Chicago on October 8 and 9, 2024.

How does the I-80 improve operational efficiency compared to manual methods?

The I-80, when paired with Ispire's self-sealing devices, boosts operational efficiency by up to 1,000% compared to manual methods by eliminating the need for separate capping.