Expion360 Inc. announced the execution of a non-binding Letter of Intent (LOI) with NeoVolta Inc. for a potential collaboration. This LOI outlines a framework to leverage shared resources to engineer a state-of-the-art battery manufacturing facility in the U.S.
The collaboration also aims to develop innovative lithium-ion battery cell and module product designs. Expion360 intends to contribute its expertise in design and engineering, while NeoVolta plans to provide capital and manpower for the initiative.
This strategic move is intended to bring high-performance, sustainable energy storage solutions to market and address growing demand. The initiative is also positioned to meet domestic content requirements for Battery Electric Storage Systems (BESS), potentially opening opportunities in government and defense sectors.
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