Forza X1 (FRZA) Provides Update on Intellectual Property Initiative

Forza X1, Inc. (Nasdaq: FRZA) ("Forza," the "Company"), a developer of electric sport boats with a mission to inspire the adoption of sustainable recreational boating, today provided a detailed update on its intellectual property (IP) roadmap for the next twelve months and offered a status report on its patents currently pending with the United States Patent and Trademark Office (USPTO). "Patenting IP related to our designs and innovation is an essential aspect of our business," states Joseph Visconti, Executive Chairman and Chief of Product Development of Forza X1, Inc. "Intellectual property rights allow our Company the opportunity to design, build and test innovative products that can be protected under the United States patent protection laws and give us the ability to compete against larger companies. Our IP roadmap is intended to help guide the Company's trajectory for the next year so that it may design, build, and test new technologies as fast as possible."

The Company currently has eight patents in process with the USPTO. "Our engineers have worked on several aspects of our future FX1 boat models to elevate the customer experience," explains Visconti. "Our team constantly meets to discuss exciting possibilities with each other. We also consider feedback and suggestions from our collaborators, vendors, and other boating industry participants and enthusiasts to gain outside perspectives." Some examples of the Company's current pending patents are designs to enable a higher level of maneuverability on the water, increase engine efficiency through its cooling system, allow for a buildable and modular outboard engine construction, and permit owners to operate a single-handed trailering process. In the coming weeks and months, Visconti indicates that one of Forza's priorities is to transition its six provisional patent applications into full applications so that it may obtain the patent protection associated with full patents.

In addition to the patents pending with the USPTO, Forza's goal over the next year is to file at least ten new provisional applications. The Company expects to file two new provisional applications soon and has several other ideas waiting to be vetted. "As part of our year-long roadmap, Forza is considering other areas of focus for our IP development that to create barriers to entry for other companies. The biggest issue we are looking to address is extending the range of electric boats so our customers can maximize their time on the water on a single charge," states Visconti. Forza's engineers are examining improvements to outboard motor efficiency, utilizing lightweight materials, investigating various structural battery composites, implementing new hull designs, and working on fast-charging capability.

"Forza is a small and agile company, and we plan to use that as an advantage to grow our IP," says Visconti. "We believe this investment in innovation will add value to Forza over time, enabling us to generate revenue by holding the exclusive right to license our technology." Market studies have shown that intangible assets (such as IP) currently account for 90% of the S&P 500's total assets, demonstrating how prevalent technology has become in people's lives. "We further believe that Forza's IP roadmap will help integrate brand-new and enhanced features with our products to increase our company's valuation and position Forza as a technology leader in the marine industry."

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