Expion360 Partners with K-Z Recreational Vehicles, a Division of Thor Industries, Inc., to Provide Advanced Lithium Battery Solutions

Rhea-AI Summary

Expion360 Inc. (XPON) has announced a partnership with K-Z Recreational Vehicles, a subsidiary of Thor Industries, to integrate Expion360's advanced lithium battery technology into K-Z RV's premium offerings. The collaboration aims to enhance the off-grid capabilities of K-Z RV's vehicles.

Key points:

• K-Z RV's Boondocker package will include three Expion360 51.2V 60Ah Edge VHC heated batteries, with an option for a fourth.
• The system features integration with Victron's Cerbo GX for real-time communication with Expion360's battery management system.
• K-Z RV will offer two of Expion360's new Group 27 100Ah VHC Heated batteries as an option in their Off the Grid solar package.
• The battery upgrades will be available in Durango, Durango Gold, and Durango Half-Ton models.

Positive

• Partnership with K-Z Recreational Vehicles, a subsidiary of Thor Industries, expands Expion360's market reach
• Integration of Expion360's batteries into K-Z RV's premium offerings enhances product visibility
• Potential for increased sales through multiple battery options in various RV models

Negative

• None.

Market Research Analyst

This partnership between Expion360 and K-Z RV, a Thor Industries subsidiary, is a significant development for Expion360's market expansion. The integration of Expion360's lithium batteries into K-Z RV's premium offerings could boost Expion360's revenue and market share in the RV industry. The deal targets the growing trend of off-grid camping and boondocking, which has seen increased popularity post-pandemic. This move could potentially increase Expion360's visibility among RV enthusiasts and lead to further partnerships in the industry. However, the impact on Expion360's stock may be in the short term, as the financial terms of the deal aren't disclosed. Long-term growth prospects look promising if this partnership proves successful and leads to increased adoption of Expion360's technology in the RV market.

Tech Expert

Expion360's battery technology offers significant advantages for RV applications. The 51.2V 60Ah Edge VHC heated batteries provide high energy density and cold weather performance, important for off-grid use. The integration with Victron's Cerbo GX for real-time BMS communication is a key feature, allowing users to monitor battery status efficiently. The new Group 27 12.8V 100Ah VHC heated batteries further expand Expion360's product range, catering to different RV models and power requirements. This diversification of product offerings strengthens Expion360's position in the market. The heated battery technology is particularly noteworthy, as it addresses a common issue with lithium batteries in cold environments, potentially giving Expion360 a competitive edge in the RV battery market.

Financial Analyst

While this partnership is promising for Expion360, its financial impact remains uncertain without disclosed terms. For context, Expion360's $7.2 million revenue in 2022 suggests this deal could be material to their top line if it leads to significant sales volume. However, the company's $5.2 million net loss in the same period indicates they need substantial growth to reach profitability. The partnership with K-Z RV, part of Thor Industries (NYSE: THO), a $9 billion market cap company, provides credibility and potential for scaling. Investors should monitor Expion360's upcoming financial reports for evidence of revenue growth and margin improvements resulting from this deal. The stock may see increased interest, but concrete financial benefits will be key to long-term value creation.

Expion360 51.2V 60Ah Edge VHC Heated Batteries Offered in Boondocker Package and New Group 27 12.8V 100Ah VHC Heated Batteries Available as an Option for the Off the Grid Solar Package

REDMOND, Ore., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, today announced a partnership with K-Z Recreational Vehicles (“K-Z RV”), a subsidiary of Thor Industries, Inc. This collaboration will integrate Expion360's cutting-edge battery technology into K-Z RV's premium offerings, enhancing the off-grid capabilities of their vehicles.

K-Z RV’s Boondocker package, renowned for its exceptional off-grid features, will now include three Expion360 51.2V 60Ah Edge VHC heated batteries, with an option to expand to a fourth battery. The integration of Expion360’s advanced battery technology and the expert system integration is provided by Wellspring Solar. The system features full integration with Victron’s Cerbo GX for real-time communication with Expion360’s battery management system (“BMS”).

These batteries will be available in the Durango and Durango Gold fifth-wheel models.

"We are thrilled to partner with K-Z Recreational Vehicles, a respected name in the RV industry and a part of Thor Industries, Inc.," said Brian Schaffner, CEO of Expion360. "This collaboration allows us to bring our cutting-edge lithium battery technology to a broader audience, providing K-Z RV customers with reliable and efficient power solutions for their outdoor adventures."

In addition to the Boondocker package, K-Z RV will offer two of Expion360's new Group 27 100Ah VHC Heated batteries as an option to their standard Off the Grid solar package. This upgrade will be available across the Durango, Durango Gold, and Durango Half-Ton models.

Brent Froman, General Manager at K-Z RV, commented, "At K-Z RV, we are committed to offering our customers the best in RV technology and innovation. By partnering with Expion360, we can provide advanced lithium battery options that enhance the off-grid experience. We are excited to offer these high-quality power solutions in our Durango and Durango Gold models, as well as in the Durango Half-Ton."

About K-Z Recreational Vehicles

K-Z Recreational Vehicles, a subsidiary of Thor Industries, Inc., is dedicated to designing and manufacturing RVs that promote the enjoyment of the great outdoors. Founded in 1972 and headquartered in Shipshewana, Indiana, K-Z RV is renowned for its commitment to quality, fairness, courtesy, and integrity. The company produces several popular brands of towable recreational vehicles, including Connect, Durango, Escape, Sportsmen, Sportster, Venom, and the Venture RV line, which includes Sonic, Stratus, and SportTrek.

K-Z RV operates a state-of-the-art production facility covering 530,000 square feet, with over 600 employees and 12 product lines offering more than 150 floor plans. The company prides itself on being one of the most innovative RV manufacturers in North America, continually leading the industry with new and inventive products. For more information, please visit K-Z RV.

About Wellspring Solar

Wellspring Solar, an industry leader in off-grid solar and battery solutions, has been a pivotal partner in the integration of complex energy systems for recreational and residential applications since 1995. Their expertise in system design and implementation ensures optimal performance and reliability.

For additional information about Wellspring Solar, please visit www.wellspringsolar.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.

Edge, 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 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 Company’s anticipated collaboration and integration of the Company’s products with K-Z RV’s 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/60a06890-8907-4b1d-af52-103c42d03d31

FAQ

What is the partnership between Expion360 (XPON) and K-Z Recreational Vehicles?

Expion360 (XPON) has partnered with K-Z Recreational Vehicles to provide advanced lithium battery solutions for K-Z RV's premium offerings, enhancing their off-grid capabilities.

Which Expion360 (XPON) batteries will be included in K-Z RV's Boondocker package?

K-Z RV's Boondocker package will include three Expion360 51.2V 60Ah Edge VHC heated batteries, with an option to expand to a fourth battery.

What RV models will feature Expion360 (XPON) batteries as part of this partnership?

Expion360 batteries will be available in K-Z RV's Durango, Durango Gold, and Durango Half-Ton models.

How are Expion360 (XPON) batteries integrated into K-Z RV's systems?

The integration features Victron's Cerbo GX for real-time communication with Expion360's battery management system, with system integration provided by Wellspring Solar.