Expion360 Announces Substantial Preorders of Next Generation Lithium Batteries Now Featuring Vertical Heat Conduction™ Heating Technology
REDMOND, Ore., April 18, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (NASDAQ:XPON) ("Expion360" or the "Company"), an industry leader in lithium-ion battery power storage solutions, today announced substantial preorders of its next generation Group 27 and GC2 batteries that now include its groundbreaking Vertical Heat Conduction™ ("VHC™") internal heating technology, a patent-pending innovation representing a significant breakthrough in battery performance, particularly in cold climates, will now be included in the next generation Group 27 and GC2 series. Shipments are expected to begin in May 2024.
As previously announced, Expion360's VHC heating technology utilizes Positive Temperature Coefficient Heating Film ("PTCHF") to ensure uniform heat distribution across each cell, promoting optimal battery performance even in extreme cold conditions. The sophisticated Battery Management System provides real-time monitoring and control, enhancing operational safety and longevity in cold temperatures.
VHC heating technology will be available in the next-gen Group 27 and GC2 series, the line of 12V lithium iron phosphate ("LiFePO4") batteries engineered with advanced LiFePO4 chemistry to optimize power and performance in demanding environments. The new versions also include higher amp-hour 4.0Ah and 4.5Ah cell technology, Bluetooth® and controller area network communication.
"VHC heating technology represents a significant advancement in battery performance, developed in response to customer demand and requirements," said Brian Schaffner, Chief Executive Officer of Expion360. "With this innovation, we are enabling customers to overcome the challenges of operating batteries in cold climates, ensuring reliable performance and longevity.
"We have received substantial customer interest and preorders for our next generation Group 27 and GC2 series batteries featuring VHC heating technology, which we expect to begin shipping next month. The Group 27 and GC2 series will also be available for purchase through more than 300 dealers, wholesalers, private-label customers, and original equipment manufacturers ("OEMs") nationwide. We plan to continue adding features, improving energy density, and developing unique OEM-centric form factors that we believe will further broaden our market opportunities in new and existing verticals and bring long-term value to customers and stockholders," concluded Schaffner.
One of the key features of this innovative heating technology is its ability to intelligently adjust its power source, drawing power from the battery only when necessary. When an external charge source is ample, the heater operates solely on this power while simultaneously charging the battery. This optimized power use strategy not only ensures efficient thermal management but also promotes sustainability by minimizing energy consumption.
Others in our industry use a simple foam heating pad wrapped around the outer edges of their internal battery pack, creating potential issues within their battery. The uneven and inconsistent heating for cells results in potential damage to cells in the center of the internal pack. This is due to the fact that their limited heating pad must heat up the entire battery by way of thermal radiation. This is an inefficient use of energy to warm the battery. Expion360 designed its proprietary battery packs to be able to integrate its PTCHF heating element in a way that makes direct contact with the top and bottom of each cell. This allows heating of each and every cell by way of thermal conduction, requiring less energy and reducing the required time to warm the battery.
For more information about Expion360's VHC™ heating technology and its energy storage solutions, 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.
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 expectations about the Company's product features and capabilities, anticipated timing of commercial availability of its products, product development strategy, and beliefs about market opportunity. 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
[email protected]
www.mzgroup.us
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bead631a-d0d5-4c38-a45c-1d2372a3ac28
