Li-ion Power Storage Innovator, Expion360, Joins Russell Microcap(R) Index
REDMOND, OR / ACCESSWIRE / June 26, 2023 / Expion360 Inc. (NASDAQ:XPON), an industry leader in lithium-ion battery power storage solutions, is set to join the Russell Microcap® Index upon the opening of the U.S. market today.
FTSE Russell, a leading global index provider, determines the membership of its Russell indexes primarily by objective market capitalization rankings and style attributes. Membership in the Russell Microcap Index automatically adds Expion360 to the associated growth and value style indexes. The listing remains in place for one year until the next annual reconstitution.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to FTSE Russell, approximately
"Joining the Russell Microcap Index represents another significant milestone for Expion360 and reflects the tremendous progress we've made since our IPO in April of last year," said Expion360 CEO Brian Schaffner. "We believe we have arrived at an inflection point in our growth and development, as demonstrated by multiple new OEM strategic supply agreements and the introduction of innovative new products that have broadened our market opportunities. As a unique pure play in our marketplace with strong industry tailwinds supporting our growth, we welcome the greater visibility this listing creates for us in the investment community."
Since the end of last year, Expion360 has announced a series of major OEM customer wins in the RV/Overland market. This includes being selected as a strategic supplier of lithium iron phosphate (LiFePO4) batteries for an award-winning Overland RV trailer branded by a top U.S. sports utility vehicle manufacturer and sold through more than 5,000 SUV dealerships across North America.
Expion360 recently announced its entrance into the smart battery and light electric vehicle market (LEV) with the introduction of its new Bluetooth-enabled e360 SmartTalk™ LiFePO4 battery. The innovative technology enables a full bank of e360™ LiFePO4 batteries to be monitored wirelessly with the company's new e360 SmartTalk™ mobile app.
Additional information on the Russell Microcap® Index and the Russell indexes reconstitution is available in the Russell Reconstitution section of the FTSE Russell website.
About FTSE Russell
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About Expion360
Expion360 is an industry leader of premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications,with residential and industrial applications under development.
The company's lithium batteries feature half the weight of standard lead-acid batteries while delivering three times the power and 10 times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other Li-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 Li-ion batteries are available today through more than 213 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the company, visit expion360.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Examples of such forward-looking statements include statements regarding our expectations regarding our business strategies and plans, growth opportunities and competitive position, our expectations regarding strong industry tailwinds supporting our growth, and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate," or similar expressions. Because forward-looking statements relate to the future, such forward-looking statements involve significant risks, uncertainties, and assumptions that are difficult to predict and many of which are outside our control. Actual results could differ materially from those indicated in the forward-looking statements. Factors that could cause such differences include, among others, the competitive nature of our industry and the pricing pressures that we face, our history of losses and increasing costs, our ability to continue as a going concern, our dependency on the needs and success of our customers and our substantial customer concentration, any inability to successfully manage our growth, the impact of public health epidemics or outbreaks, our ability to expand our sales and distribution channels, our ability to expand into international markets, the limited number of ports through which our raw materials enter the United Sates and our reliance on third parties to store and ship certain inventory, uncertainty in the global economic condition, any government reviews, inquiries, investigations and other actions, changes in the cost and availability of raw materials, our dependency on third-party manufacturers and suppliers and increases in the cost or disruption of supply or shortages in any of our raw materials, battery components or raw materials used in the production of such parts, our dependency on our two warehouse facilities, the risk that lithium-ion battery cells may catch fire or release smoke and flame, potential product liability claims, risks related to litigation, tax, environmental and other legal compliance, any failure to introduce new products and product enhancements and market acceptance of new technologies introduced by our competitors, any failure by us to adequately protect our intellectual property or to defend ourselves against intellectual property infringement claims, quality problems with our products, our ability to raise capital, risks related to our electronic data becoming compromised, our dependency on our senior management team and other key employees, any failure to keep pace with developments in technology and those discussed in our filings with the SEC. Investors should read the risk factors set forth in the Company's previous filings, subsequent filings, and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that forward-looking statements are not historical facts and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether as a result of new information, future events or otherwise, except as required by law.
Russell Microcap® is a registered trademark of the London Stock Exchange Group.
Expion360 Contact:
Brian Schaffner, CEO
Tel (541) 797-6714
Expion360 Investor Contact:
Ronald Both
CMA Investor Relations
Tel (949) 432-7566
Email contact
Expion360 Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email contact
SOURCE: Expion360 Inc.
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