Life Cube and Xponent Power Sign Letter of Intent for a Collaboration on a Commercial Supply Agreement
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LifeCube would integrate Xponent Power's retractable solar systems into various product offerings, providing a unique self-powered solution to its customers
FREMONT, Calif., Oct. 4, 2022 /PRNewswire/ -- Xponent™ Power, manufacturer of retractable solar systems and creator of the Xpanse™ solar awning for recreational vehicles, and Life Cube, Inc., manufacturer of a portfolio of off-grid portable shelters designed for many applications, including military use, disaster relief, temporary housing and recreation, today jointly announce that both companies have entered into a letter of intent (LOI) which reflects the parties' non-binding agreement to enter into a joint development arrangement and negotiate a commercial agreement.
As part of the LOI, Life Cube will evaluate the integration of a version of Xponent's Xpanse solar awning into Life Cube shelter products, particularly the Hard Cube and Ice Cube product lines. A successful integration would result in a portable shelter product capable of significant self-powering, which could be useful in applications such as disaster relief, temporary refrigeration, and military applications, in alignment with DOD's mandate to reduce fuel consumption. The companies have agreed, upon successful evaluation of the integrated product, to enter into a definitive supply agreement and to engage in joint marketing of the combined configuration to relevant customers. Such a definitive agreement is subject to the mutual agreement of the parties and several other conditions, including Xponent Power's successful completion of a Series A financing.
"We are very excited to be working with Xponent Power on some unique power solutions," said Michael Conner, Founder of Life Cube. "We think Xponent has special IP in their retractable solar products, and we look forward to getting Xpanse-like products integrated into our own, enabling some innovative applications for the Life Cube product line."
"We have had a lot of success with the Xpanse solar awning in the recreational vehicle space, and we are now thrilled to be working with a mission-driven company such as Life Cube," said Rohini Raghunathan, CEO of Xponent Power. "We have always envisioned our technology as a platform with applications beyond RVs, and Life Cube has given us an opportunity to deliver our power solutions to disaster relief, refrigeration, and military applications."
Further updates will be announced and brought to market as the partnership develops.
Xponent Power is a disruptive renewable energy company enabling widespread adoption of solar power in markets that cannot be served by traditional solar solutions.
Xponent Power's versatile and patented technology platform is poised to disrupt the status quo in the solar industry and enable a wide range of additional sectors including recreational vehicles, military, emergency relief, and residential power. For more information, visit www.xponentpower.com
Life Cube Inc., a Santa Barbara company that specializes in portable inflatable and rigid wall shelters, recently completed its third contract with the U.S. military to develop insulated, refrigerated shelters that are designed for airdrop into forward operating bases and other remote locations. The company recently launched a commercial line of shelter solutions. For more information on Life Cube, visit lifecubeinc.com. To contact the company, call 805-560-9600 or email [email protected].
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SOURCE Xponent Power
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