iPower Delivers First Order of Hydroponic Equipment for the European Market
05 Januar 2022 - 2:30PM
iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the
leading online hydroponic equipment suppliers and retailers, is
announcing its expansion into the European market with the
completion of its first order delivery to Amazon (NASDAQ:AMZN)
for consumers in the UK and Germany.
In December 2021, iPower delivered several of its own branded
products for customer(s) in the UK and Germany, including trimming
devices, air filters, grow bags, tents and other accessories. This
delivery marks iPower’s official entrance into the European
hydroponic market, which is in the early stages of development and
presents a long-term growth opportunity for iPower.
“We continue to deepen our relationships with key partners as we
enter two new hydroponic markets with very limited penetration,”
said iPower CEO Lawrence Tan. “The UK and Germany are two of the
most populous countries in Europe and we believe each represents a
significant early-mover opportunity to gain market share and drive
awareness of our core iPower and Simply Deluxe brands, as well as
our recently launched Nutrient line--Flourish. We look forward to
partnering with Amazon to serve this new set of hydroponic
consumers with high quality products at an affordable price.”
The initial sale of hydroponic equipment for Europe was
recognized during the Company’s fiscal second quarter ended
December 31, 2021.
About iPower Inc.
iPower Inc. is one of the leading online retailers and suppliers
of hydroponics equipment and accessories. iPower offers thousands
of stock keeping units from its in-house brands as well as hundreds
of other brands through its website, www.zenhydro.com, and its
online platform partners. iPower has a diverse customer base that
includes both commercial businesses and individuals. For more
information, please visit iPower's website at
https://ir.meetipower.com/.
Forward-Looking Statements
All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations and projections about future
events and financial trends that iPower believes may affect its
financial condition, results of operations, business strategy and
financial needs. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. iPower undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although iPower believes that the expectations
expressed in these forward-looking statements are reasonable, it
cannot assure you that such expectations will turn out to be
correct, and iPower cautions investors that actual results may
differ materially from the anticipated results and encourages
investors to review other factors that may affect its future
results in iPower's registration statement and in its other filings
with the SEC.
US & Canada Investor Relations
Contact:Sean Mansouri, CFAElevate IR(949)
200-4603IPW@elevate-ir.com
Asia Investor Relations
Contact:Sherry ZhengWeitian Group LLC(718)
213-7386shunyu.zheng@weitian-ir.com
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