Xponent Power, manufacturer of retractable solar systems and creator of the Xpanse solar awning for RVs, and Life Cube Inc., manufacturers of a portfolio of off-grid portable shelters designed for many applications, including military use, disaster relief, temporary housing and recreation, have jointly announce that both companies have entered into a letter of intent 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 (intellectual product) 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 (RV) 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.”
