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Leap and Xos Partner to Power the Grid with Electric Fleets

1. Xos partners with Leap to generate grid revenue opportunities for electrified fleets. 2. Xos Hub chargers will support energy markets during grid emergencies. 3. Collaboration aims to improve fleet electrification and lower operational costs. 4. Last summer's DSGS program helped California avoid blackouts during heatwaves. 5. Leap's software enables quick deployment of Xos's virtual power plant offerings.

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FAQ

Why Bullish?

The partnership enhances revenue and operational efficiency, likely boosting investor confidence. Historical partnerships in similar sectors have resulted in stock price appreciation, such as Tesla's collaborations enhancing their EV infrastructure and services.

How important is it?

The article discusses a strategic partnership that directly impacts XOS's operational revenue and growth potential. This public announcement demonstrates tangible advancements in XOS capabilities, enhancing market expectations.

Why Short Term?

The immediate benefits of grid revenue generation will be visible in the next quarters. Quick operational enhancements often lead to short-term stock price adjustments witnessed in tech and transportation sectors.

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New partnership empowers electrified commercial trucks to generate revenue and support the grid SAN FRANCISCO & LOS ANGELES--(BUSINESS WIRE)--Leap, the leading platform for building and scaling virtual power plants (VPPs), and Xos, Inc., (NASDAQ:XOS), a leading electric truck manufacturer and fleet services provider, today announced a new partnership to unlock grid revenue opportunities for electrified fleets. By connecting Xos Hub charging technology to energy markets through Leap’s automated platform, the companies will create new value for fleet owners and deliver crucial support for the grid during energy emergencies.By connecting Xos Hub charging technology to energy markets through Leap’s automated platform, the companies will create new value for fleet owners and deliver crucial support for the grid during energy emergencies.Share Xos manufactures electric stepvan vehicles used by some of the country’s most recognizable logistics companies, including FedEx and UPS. The company’s Xos Hub is a mobile, battery-integrated charger designed to speed up fleet electrification without the delays or costs of traditional infrastructure. It provides a versatile, scalable solution for stopgap charging, remote deployments, semi-permanent charging, and backup power. Now, by using Leap’s software-only VPP platform, Xos can enroll its customers in California’s Demand Side Grid Support (DSGS) grid services program. During emergency grid events, participating fleets will automatically shift charging from the grid to their Xos Hub battery-integrating chargers, relieving grid strain while generating revenue. Last summer, with major contributions from Leap, DSGS helped California avoid blackouts during prolonged heatwaves. With the addition of Xos’s rapidly growing portfolio, Leap and its partners are poised to scale their impact and deliver even greater support to the grid. “Leveraging our complementary technologies, Leap and Xos are tapping new value streams for commercial truck fleets, the transportation services that power our economy,” said Jason Michaels, CEO of Leap. “Together, we’re making these fleets cleaner, smarter, and more cost effective, while contributing to a more resilient energy landscape.” Leap’s universal API suite automates energy market operations, enabling Xos to quickly deploy and scale its own VPP offering without additional hardware or significant additional operational overhead. This means that Xos can immediately start generating new grid revenue, reducing the total product cost for customers and driving ongoing energy savings. “Our VPP offering gives fleet customers advanced energy capabilities without compromising control or convenience,” said Dakota Semler, CEO of Xos, Inc. “It’s a powerful way to lower the cost of infrastructure ownership even further, maximize the value of our products, and support customers in meeting their electrification goals.” About Leap Leap is the leading platform for launching and scaling virtual power plants (VPPs). Through its software-only solution, Leap facilitates fast, easy and automated access to demand response and other grid services revenue streams for the providers of battery storage systems, EV chargers, smart building technologies, and other distributed energy resources (DERs). Managing over 200,000 energy sites and devices across U.S. energy markets, Leap empowers more than 90 technology partners and their customers to unlock new value and help create a more flexible, resilient grid powered by renewable resources. Visit leap.energy to learn more. About Xos, Inc. Xos is a leading technology company, electric truck manufacturer, and fleet services provider for battery-electric fleets. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, visit www.xostrucks.com.

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