Expion360 Fulfilling e360 HESS Orders for Wellspring Solar and Expects to Report Sequential Quarterly Growth

January 2, 2025

DENVER, Colo., Jan 02, 2025 (247marketnews.com)- Expion360 (NASDAQ: XPON) stated that it began distribution of its e360 Home Energy Storage Solutions (“HESS”) and is beginning to fulfill HESS purchase orders to Wellspring Solar, a key partner to Expion360 for the HESS pilot program and HESS system development.

Brian Schaffner, Expion360’s CEO, stated, “These order deliveries will reflect a significant milestone in bringing the e360 HESS to market in partnership with Wellspring Solar, our trusted integration partner. 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.”

Expion360 further announced that it expects to report that its quarterly revenue will grow from $1.4 million in the third quarter of 2024 to approximately $1.8 to $2.0 million, about which Schaffner added, “In the fourth quarter of 2024, we achieved preliminary unaudited revenue of $1.8 to $2.0 million, representing strong sequential growth from the third quarter in both the top and bottom lines. We believe we are making significant progress against our goals with the ongoing expansion of our OEM relationships and distribution network to meet the increasing demand for high-quality lithium battery technology from existing and recent new customers including Scout Campers, Alaskan Campers, and K-Z Recreational Vehicles. Our progress also expands beyond this vertical, having just announced that we will begin shipping our Home Energy Storage Solutions to our key integration partner, Wellspring Solar, in January 2025. We look forward to providing additional updates regarding the timing of our next conference call and to discussing our financial results for the quarter and year ended December 31, 2024, which are expected to be announced in March 2025.”

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