Life Cube and Xponent Power Sign Letter of Intent for a Collaboration on a Commercial Supply Agreement
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.
- 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," saidMichael Conner, Founder of Life Cube.
- Xponent Power is a disruptive renewable energy company enabling widespread adoption of solar power in markets that cannot be served by traditional solar solutions.