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Expion360 Inc. - XPON STOCK NEWS

Welcome to our dedicated page for Expion360 news (Ticker: XPON), a resource for investors and traders seeking the latest updates and insights on Expion360 stock.

Expion360 Inc. (Symbol: XPON) specializes in the design, assembly, manufacturing, and sales of advanced lithium iron phosphate (LiFePO4) batteries, along with supporting accessories. The company's primary focus is on recreational vehicles (RVs) and marine applications. They are renowned for their minimal-footprint batteries, providing more power for their size compared to other market alternatives.

Expion360’s innovative product line includes the Next Gen Group 27 and GC2 Series Batteries featuring proprietary Vertical Heat Conduction™ Technology, which meets the diverse needs of customers. Notably, these batteries offer exceptional flexibility and enhanced heating efficiency.

With plans to expand into the home energy storage and industrial sectors, Expion360 is poised to capture a broader market share. The company is committed to delivering high-quality and reliable energy storage solutions, which has earned them a solid reputation in the industry.

In recent developments, Expion360’s revenue for the year ended December 31, 2023, totaled $6.0 million, a 16.5% decrease from the previous year. This decline was primarily due to reduced demand in the consumer market, affecting OEM sales. Despite this, the company remains optimistic about future growth driven by continuous innovation and customer demand.

Expion360 has also announced new strategic initiatives and partnerships to enhance product availability. Their lithium batteries and accessories are now available online to customers across 49 states, broadening their market reach.

For more information, contact Brian Schaffner, CEO, at 541-797-6714 or via email. External investor relations are managed by Chris Tyson, Executive Vice President, MZ Group - MZ North America, reachable at 949-491-8235 or XPON@mzgroup.us.

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Expion360 Inc. (Nasdaq: XPON), a lithium-ion battery power storage solutions company, has announced the pricing of a $10 million underwritten public offering. The offering consists of 50,000,000 Common Units or Pre-Funded Units at $0.20 and $0.199 per unit, respectively. Each unit includes common stock or pre-funded warrants, two Series A warrants, and one Series B warrant.

The company plans to use the net proceeds to repay approximately $3.4 million in outstanding debt and for working capital. The offering is expected to close on August 8, 2024. Aegis Capital Corp. is acting as the Sole Bookrunner and has a 45-day option to purchase additional securities to cover over-allotments.

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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.
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Expion360 (Nasdaq: XPON), a leader in lithium-ion battery storage solutions, will participate in the Noble Capital Virtual TMT Conference from June 26-27, 2024. CEO Brian Schaffner will present on June 26 at 11:30 am ET/8:30 am PT, discussing the company's new products like the Edge™ battery, next-gen Group 27 and GC2 series batteries, and Home Energy Storage Solutions. The company will also highlight its new online retail partnership with Tractor Supply Company. The presentation and one-on-one meetings will be accessible via the Expion360 investor relations website.

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Expion360 (Nasdaq: XPON) has announced a new e-commerce partnership with Tractor Supply Company. This collaboration will make Expion360’s lithium-ion batteries and accessories available online to customers in 49 states starting June 2024. Tractor Supply, the largest rural lifestyle retailer in the US, operates over 2,200 stores and offers a variety of products for automotive, RV, camper, and marine applications. Expion360’s offerings will include Group 24 and Group 27 batteries, the Aura Power Cap, and a portable solar bundle. CEO Brian Schaffner highlighted the partnership as a significant growth opportunity, enhancing Expion360’s market presence and making their advanced battery technology accessible to a broader audience.

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Expion360 reported its Q1 2024 financial results, highlighting a revenue of $1.0 million, up 13% sequentially from Q4 2023, but down 35.5% year-over-year. The net loss increased to $2.2 million from $2.0 million in the prior year, driven by new product development and launches.

Key developments include substantial preorders for new Group 27 and GC2 batteries featuring proprietary Vertical Heat Conduction™ technology, the launch of Edge™ battery, and UL 1973 compliance for 450Ah EX1 batteries. The company also detailed future strategic partnerships and product expansions for various sectors, including home energy storage solutions.

CEO Brian Schaffner emphasized the company's innovation and expansion efforts across multiple market segments. Cash reserves totaled $2.3 million, with additional financing commitments of up to $22.5 million to support ongoing initiatives.

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Expion360 Inc. (Nasdaq: XPON) announced the launch of the Edge™ LiFePO4 battery designed for off-grid power storage solutions. With a slim form factor and Vertical Heat Conduction™ technology, the Edge offers flexibility for various applications. It features real-time monitoring capabilities, modular design for easy expansion, and is equipped with Integrated SmartTalk™ Bluetooth and CAN Bus communication. The battery is now available for preorder, with shipments starting in the third quarter of 2024.

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Expion360 Inc. (Nasdaq: XPON) will host a conference call on May 14, 2024, to discuss its financial results for the first quarter of 2024, led by CEO Brian Schaffner and CFO Greg Aydelott. The call will include details on ongoing initiatives and anticipated milestones for 2024. A press release will precede the call, and a webcast with a presentation will be available. Access details include dial-in information and a webcast link for investors. A telephone replay and access to the presentation will be available post-call.

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Expion360 Inc. announces substantial preorders for its next generation Group 27 and GC2 lithium batteries featuring Vertical Heat Conduction™ technology, enhancing battery performance in cold climates. The innovative heating technology utilizes Positive Temperature Coefficient Heating Film for uniform heat distribution, with shipments starting in May 2024. The batteries also include advanced LiFePO4 chemistry, higher amp-hour cell technology, Bluetooth® communication, and controller area network features. Expion360 plans to expand market opportunities and add value for customers and shareholders.
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Expion360 Inc. (XPON) reported its financial and operational results for Q4 and full year 2023, highlighting revenue decline, increased net loss, and new product launches. The company entered the home energy storage market with LiFePO4 battery solutions and achieved UL 1973 compliance for its batteries. Expion360 secured financing commitments of up to $22.5 million, enhancing its liquidity. The CEO emphasized new partnerships, OEM agreements, and product launches in 2024 to drive market expansion and revenue growth.
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Expion360 Inc. (XPON) achieves UL 1973 compliance for its EX1 SmartTalk Bluetooth batteries, reinforcing safety and innovation in the lithium battery industry. The certification positions the company to capitalize on the growing demand for energy storage solutions, with projected market growth of over 14% annually. The batteries offer cutting-edge technology, enhanced safety features, and real-time monitoring capabilities, ensuring reliability for various applications. CEO Brian Schaffner emphasizes the company's commitment to safety, innovation, and customer satisfaction.
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FAQ

What is the current stock price of Expion360 (XPON)?

The current stock price of Expion360 (XPON) is $2.13 as of December 6, 2024.

What is the market cap of Expion360 (XPON)?

The market cap of Expion360 (XPON) is approximately 2.0M.

What does Expion360 Inc. specialize in?

Expion360 Inc. specializes in designing, assembling, manufacturing, and selling lithium iron phosphate (LiFePO4) batteries and supporting accessories, primarily for recreational vehicles (RVs) and marine applications.

What are Expion360’s main products?

Expion360’s main products include lithium iron phosphate (LiFePO4) batteries like the Next Gen Group 27 and GC2 Series, which feature proprietary Vertical Heat Conduction™ Technology.

What markets is Expion360 looking to expand into?

Expion360 plans to expand into home energy storage products and industrial applications, aiming to increase their market share beyond RV and marine sectors.

How did Expion360 perform financially in the year ended December 31, 2023?

For the year ended December 31, 2023, Expion360 reported a revenue of $6.0 million, which is a 16.5% decrease from the previous year, mainly due to a reduction in the consumer market affecting OEM sales.

How does Expion360’s battery technology stand out?

Expion360’s batteries are noted for providing more power for their size compared to other market devices and feature proprietary Vertical Heat Conduction™ Technology for improved heating efficiency.

Where can I purchase Expion360’s batteries and accessories?

Expion360’s lithium batteries and accessories are available online to customers in 49 states, providing easy access to their innovative products.

Who are the key contacts for Expion360?

The key contacts for Expion360 are Brian Schaffner, CEO (541-797-6714), and Chris Tyson, Executive Vice President at MZ Group - MZ North America (949-491-8235, XPON@mzgroup.us).

What recent technological advances has Expion360 made?

Expion360 recently introduced batteries with proprietary Vertical Heat Conduction™ Technology, which enhances heating efficiency and flexibility for various applications.

What caused the revenue decline in 2023 for Expion360?

The revenue decline in 2023 was primarily due to a reduction in the consumer market, which led to a decrease in OEM sales.

What advantages do Expion360’s batteries offer over competitors?

Expion360’s batteries offer more power for their size compared to other market options and include innovative technologies like Vertical Heat Conduction™, enhancing their efficiency and adaptability.

Expion360 Inc.

Nasdaq:XPON

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