Ispire Launches VLT: A New Pod System Designed to Enhance the 510-Thread Vaping Experience

Rhea-AI Summary

Ispire Technology Inc. (NASDAQ: ISPR) has launched VLT, a new reloadable pod system for vaping that aims to revolutionize the 510-thread experience. The system features a proprietary reload mechanism that promotes sustainability by reducing electronic waste through reusable batteries and pods. VLT's design preserves terpenes, extends product shelf life, and offers cost efficiency for manufacturers through the Ispire ONE™ filling machine. The company commits to donating a portion of proceeds to organizations fighting non-recyclable waste, making it a plastic-neutral product. The system is available in various pod sizes and colors, catering to THC, CBD, and alternative cannabinoid users.

Positive

• Introduction of innovative reloadable pod system reducing operational costs
• Revenue potential from eco-friendly product targeting growing sustainable market
• Cost efficiency through Ispire ONE™ filling machine implementation
• Product differentiation through terpene preservation technology

Negative

• Potential market adoption challenges in competing with established disposable vaping products
• Initial investment required for manufacturers to adopt new filling system

Innovative Vaping Technology Creates a Sustainable, Cost-Effective Ecosystem that Preserves Terpenes, Reduces Waste, and Supports Organizations Dedicated to Reducing Non-Recyclable Waste

LOS ANGELES, Nov. 25, 2024 /PRNewswire/ -- Ispire Technology Inc. (NASDAQ: ISPR), announced the launch of VLT, a groundbreaking vaping pod system that redefines the 510-thread experience. VLT's proprietary reload system offers a sustainable and eco-friendly solution that empowers consumers to take control of their vaping devices, addressing key concerns about environmental impact and disposable hardware waste.

"VLT is a transformative step forward for cannabis vaping," said Michael Wang, Co-CEO of Ispire. "We've combined the familiarity of 510-thread devices with a versatile reloadable system that gives our partners and consumers true ownership of their vaping experience, while tackling the environmental and economic challenges that come with disposables."

Sustainability and Eco-Friendly Design
Unlike disposable vapor products that contribute to electronic waste by discarding the entire device, including the battery, VLT's reusable system promotes sustainability by allowing consumers to reload their pods. This means the battery isn't thrown out with each use, reducing electronic waste and making the product more environmentally friendly. The eco-friendly design, featuring a reusable battery and multiple pod sizes, reduces electronic waste and supports Ispire's commitment to environmental responsibility. A portion of VLT's proceeds will be donated to organizations dedicated to reducing non-recyclable waste, making VLT a plastic-neutral product.

Cost and Operational Efficiency
VLT's reloadable pods not only offer a greener alternative but are also cost-effective when compared to traditional disposable systems. For manufacturers, VLT drives operational efficiency through the Ispire ONE™ filling machine, cutting labor costs and maintaining product integrity. VLT's airtight design preserves the natural terpenes in cannabis extracts, enhancing flavor profiles and extending shelf life, setting a new standard for vaping quality.

Elevating the 510-Thread Experience
VLT elevates the vaping experience by merging the convenience of disposables with the reliability and performance of the 510-thread system. Available in a variety of pod sizes, colors, and fully customizable options, VLT caters to the needs of both THC, CBD and alternative cannabinoid users. The advanced pod technology ensures maximum terpene preservation, with an airtight chamber that prevents evaporation and ensures every draw delivers a consistent and premium experience.

Wang added, "Disposable vapes have contributed significantly to electronic waste, but with VLT, we're giving consumers the power to not only save money but also reduce their carbon footprint. VLT offers a premium, sustainable experience without sacrificing convenience or affordability. It's an ideal solution for multi-state operators (MSOs), single-state operators (SSOs), and brands seeking sustainable growth while offering consumers a smarter, eco-friendly alternative to disposables.

For more information, visit https://www.vlt.club/. 

About Ispire Technology Inc.
Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company's operating subsidiaries own or license more than 400 patents worldwide. Ispire's branded e-cigarette products are marketed under the Aspire name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global distribution network. The Company also engages in original design manufacture (ODM) relationships with e-cigarette brands and retailers worldwide. The Company's cannabis products are marketed under the Ispire brand name primarily on an ODM basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware in the US, Europe and South Africa and it recently commenced marketing activities and customer engagement in Canada and Latin America. For more information, visit www.ispiretechnology.com or follow Ispire on Instagram, LinkedIn, Twitter and YouTube.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's ability to collect its accounts receivable in a timely manner, the Company's business strategies, the ability of the Company to market to the Ispire ONE™, Ispire ONE's success if meeting its goals, the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of their products on the markets; the Ispire ONE™ proving to be safe, and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note on Forward-Looking Statements" and the additional risk described in Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which Ispire makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

IR Contacts:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com

KCSA Strategic Communications

Phil Carlson
212.896.1233
ispire@kcsa.com

PR Contact:
Ellen Mellody
570.209.2947
EMellody@kcsa.com

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SOURCE Ispire Technology Inc.

FAQ

What is the new VLT pod system launched by Ispire (ISPR)?

VLT is a reloadable vaping pod system designed to enhance the 510-thread experience, featuring a proprietary reload system that promotes sustainability and reduces electronic waste while preserving terpenes.

How does Ispire's (ISPR) VLT system reduce environmental impact?

VLT reduces environmental impact through reusable batteries and pods, eliminating the need to dispose of entire devices, and supports organizations fighting non-recyclable waste to maintain plastic neutrality.

What are the cost benefits of Ispire's (ISPR) VLT system for manufacturers?

VLT offers cost efficiency through the Ispire ONE™ filling machine, reducing labor costs while maintaining product integrity and extending shelf life through its airtight design.