REDMOND, Ore., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, announced today that it has begun distribution of its e360 Home Energy Storage Solutions (“HESS”). The Company is beginning to fulfill purchase orders for its HESS to Wellspring Solar (“Wellspring”), a division of Wellspring Components, which has served as a key partner to Expion360 in connection with the HESS pilot program and testing and provided expertise regarding HESS system development.
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The LiFePO4 battery HESS enables residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages. HESS are designed with adaptability in mind, ready to evolve alongside changing energy requirements.
“These order deliveries will reflect a significant milestone in bringing the e360 HESS to market in partnership with Wellspring Solar, our trusted integration partner,” said Brian Schaffner, Chief Executive Officer of Expion360. “We believe the HESS product line will benefit from a fast-growing battery energy storage market, and consumer uptake can rapidly scale with the introduction of products that improve price, flexibility, and integration. We also anticipate HESS will benefit from incentives available through California's Self-Generation Incentive Program and federal tax credits available through the Inflation Reduction Act for home battery systems. We look forward to working closely with Wellspring for additional orders in 2025.”
About Wellspring Solar
Wellspring is a 4th generation family-owned business established in 1969 as a metal manufacturing facility. In 1995, the solar division was developed and started by selling off-grid solar and battery solutions. Wellspring has 2 locations covering parts of IN, IL, and MI with expansion plans to cover a larger part of the Midwest. Our team has over 30 years of combined experience in the solar and energy storage market; as well as 50 years of combined leadership experience directing the company. Wellspring installs solar systems for RVs, residential off-grid, residential, commercial, and agriculture projects. Wellspring’s background with installing battery-based systems has provided a strong foundation for customers looking for battery backup solutions.
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.
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.
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 regarding timing of delivery of its HESS to Wellspring, future development plans, growth prospects, and market opportunity, including expectations for future HESS orders from Wellspring, the ability of Expion360’s customers to create their own micro-energy grid to lessen the impact of power fluctuations and outages, and the availability of state and federal incentives. 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
