Expion360 Achieves UL 1973 Compliance for EX1 SmartTalk™ Bluetooth® Batteries
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Insights
The certification of Expion360's EX1 SmartTalk™ Bluetooth® batteries as UL 1973 compliant is a strategic development that could influence the company's market position. The certification indicates that the product meets specific safety standards, which is a critical factor in consumer decision-making. It's essential to understand that UL (Underwriters Laboratories) certification is a mark of trust and quality within the electronics industry. This compliance could potentially lead to increased consumer confidence and, subsequently, higher sales volumes for Expion360.
Given the projected compound annual growth rate (CAGR) of over 14% in the lithium battery market, Expion360's alignment with industry safety standards may provide a competitive edge. The company's focus on safety and innovation aligns with consumer and regulatory trends, especially in industries where energy storage is critical, such as renewable energy, electric vehicles and portable electronics. Furthermore, the enhanced features like SmartTalk Bluetooth functionality for battery monitoring could cater to the growing demand for smart and interconnected energy solutions.
The announcement of UL 1973 compliance for Expion360's batteries is likely to be viewed positively by investors and stakeholders. Compliance with recognized safety standards can serve as a risk mitigator, potentially reducing product liability and enhancing brand reputation. This development could influence the company's stock performance positively if the market perceives it as a sign of product reliability and company credibility.
Investors should monitor the company's financials in subsequent quarters to assess the impact of this milestone on revenue and market share. The 12-year warranty offered by Expion360 suggests a strong confidence in product quality, which could translate into long-term cost savings due to reduced warranty claims. However, it's important to balance this optimism with a careful analysis of the company's cost structure and the potential impact of warranty services on long-term profitability.
UL 1973 compliance for lithium-ion batteries signifies adherence to stringent safety standards for stationary energy storage systems. Expion360's achievement in this area highlights the company's dedication to safety, a pivotal concern in the energy storage sector. The 12.8V configuration with capacities of 368Ah and 450Ah indicates that these batteries are designed for high-capacity and high-demand applications, which is consistent with the needs of the market segments they serve, such as recreational vehicles (RVs), marine vessels and off-grid homes.
Moreover, the integration of Bluetooth technology for real-time monitoring is an innovative step towards smart energy management, providing users with valuable data for optimizing battery life and performance. This technological advancement is in line with the broader industry trend towards 'intelligent' energy solutions that enhance user control and efficiency.
Reaffirms Company's Commitment to Safety and Innovation in the Rapidly Growing Lithium Battery Industry
UL 1973 Compliant EX1 SmartTalk™ Bluetooth® Batteries now Shipping to Customers
REDMOND, Ore., March 13, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, today announced that its EX1 SmartTalk™ Bluetooth® batteries are now UL 1973 compliant. This significant milestone not only reaffirms Expion360's commitment to safety and innovation but also positions the Company at the forefront of the rapidly growing lithium battery industry.
The global demand for advanced energy storage solutions is on the rise, driven by the increasing adoption of renewable energy sources and the push for more efficient, reliable power storage options. According to industry reports, the lithium battery market is expected to experience substantial growth, with projections indicating a compound annual growth rate (CAGR) of over
The UL 1973 compliance ensures that Expion360's EX1 SmartTalk Bluetooth batteries meets the safety standards required by our customers for energy storage systems. With this certification, customers can have peace of mind knowing that their batteries have undergone rigorous testing and adhere to strict safety protocols.
Available in a 12.8V configuration with capacities of 368Ah and 450Ah, the EX1 SmartTalk Bluetooth batteries combine cutting-edge technology with enhanced safety features. The SmartTalk Bluetooth functionality enables seamless monitoring and control of the batteries, providing users with real-time insights into battery status and performance.
“We are proud to achieve UL 1973 compliance for our EX1 SmartTalk Bluetooth batteries,” said Brian Schaffner, Chief Executive Officer of Expion360. “This certification not only underscores our unwavering commitment to safety but also our dedication to innovation and excellence in a growing industry. We are excited to be at the forefront of providing our customers with the safest and most reliable battery solutions available.
“The e360 battery delivers reliable and consistent power for all our customers’ adventures. Our batteries are powering RV’s traveling the country’s highways and backroads, overland vehicles navigating remote dirt roads, vans built out for off-grid living, marine vessels and off-grid homes. We back up each adventure with a 12-year warranty and ensure customers have the power they need for many years to come,” Mr. Schaffner concluded.
The UL 1973 compliant EX1 SmartTalk Bluetooth batteries are available for order today, and shipments to customers have already begun. For more information, visit www.expion360.com.
About Expion360
Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On December 19, 2023, the Company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages. Please find the press release here.
The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-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 lithium-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.
VHC, Vertical Heat Conduction and SmartTalk are trademarks of Expion360.
© 2024 Expion360. All rights reserved.
Forward-Looking Statements and Safe Harbor Notice
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Examples of such forward-looking statements include statements that use forward-looking words such as "projected," "expect," "possibility,” “believe,” “aim,” “goal,” “plan,” and "anticipate," or similar expressions. Forward-looking statements included in this press release include, but are not limited to, statements relating to the perceived impacts of safety compliance of the Company’s products, expectations regarding the benefits of the Company’s products, trends in the Company’s markets and the continuation of such trends, and future growth in the Company’s business and products, Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements.
Company Contact:
Brian Schaffner, CEO
541-797-6714
Email Contact
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
XPON@mzgroup.us
www.mzgroup.us
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36231bc2-6ca9-4f50-b0a7-5aab06068d4d
FAQ
What is the significance of Expion360 achieving UL 1973 compliance for its EX1 SmartTalk Bluetooth batteries?
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