This groundbreaking technology is two times faster and ten times more efficient than existing automated systems, resulting in unparalleled efficiency and cost savings

LOS ANGELES, October 3, 2024 /PRNewswire/ -- Ispire Technology Inc. (“Fog Technology” or “Company”) (NASDAQ: ISPR), a leader in developing and commercializing atomization technology and accurate dosing, today announced that its pioneering “I-80” atomization equipment filling machine will revolutionize the atomization industry. The I-80 equipment will be unveiled at the Benzinga Capital Conference in Chicago from October 8-9, and is expected to redefine production efficiency with its capacity to produce 4,000 fully filled and sealed atomization equipment per hour.

The I-80 atomization equipment filling machine sets a new standard for atomization operators in production capacity and efficiency:

• Unprecedented speed: filling and sealing 4,000 0.5 ml atomizer per hour
• Increased efficiency: 10 times faster than traditional manual methods and 2 times faster than existing automation systems
• Cost-effective: Save $1,000 for every 10,000 devices produced
• No capping required: Fog Hemp Technology's self-sealing equipment does not require a separate cover, and the overall workflow efficiency is 1,000% higher than manual methods, and 100% higher than other automated systems

“The I-80 is more than just a machine; it's a disruptive solution to atomization operators' capacity challenges over the years,” said Michael Wang, co-CEO of Fumax Technology. “We're not just increasing productivity — we're leading a paradigm shift in productivity. This innovation is in line with our mission to advance technology to benefit our customers and the consumers they serve.”

Redefine the production landscape

When used in conjunction with Fog Ma Technology's self-sealing equipment, the I-80 can significantly improve operational efficiency:

• No separate closure required
• Efficiency increase of approximately 1,000% compared to manual methods
• Efficiency increase of approximately 100% compared to other automation systems

The launch of I-80 will attract the attention of multi-state operators (MSO), single-state operators (SSO), and investors. For industry leaders looking to gain a competitive edge, the ability to reduce costs and increase productivity is essential.

Welcome to experience I-80's groundbreaking features for yourself at the Benzinga Capital Conference held October 8-9 at the Magnificent Mile Marriott Hotel in Chicago, IL. To schedule a live demo and learn how the I-80 can transform your business, contact Dennis Lider, Senior Vice President of Fog Technology Business, at dennis.lider@getispire.com.

About Ispire Technology Inc.

Fog Technology is engaged in R&D, design, commercialization, sales, marketing and distribution of brand-related atomization products. The company owns or has obtained more than 200 invention/design patents from related parties worldwide. Fog Hemp Technology's products are sold under the Aspire brand and are mainly sold globally through its distribution network (excluding the US, China, and Russia). Fog Technology currently only sells its related atomization hardware in the US, and has recently carried out marketing activities in Canada and Europe (mainly the European Union). Visit and follow us on Facebook, Twitter, Instagram, LinkedIn, and YouTube.

Forward-looking statements

This press release contains forward-looking statements pursuant to section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are intended to be protected by the Safe Harbor Clause created by the above provision. Forward-looking statements are based on certain assumptions and describe the company's future plans, strategies, and expectations, and can generally be identified by using forward-looking terms such as “believe,” “expect,” “may,” “should,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” and “likely,” although not all forward-looking statements include these identifiers. All statements other than historical facts, including statements relating to the company's strategy, prospects, financial situation, operations, costs, plans, and goals, are forward-looking statements. Significant factors that may cause the Company's actual results to differ materially from those indicated in the forward-looking statement include, but are not limited to, the following risks and uncertainties: whether the Company can successfully re-enter the US transmission systems market; whether the company's joint venture with Touch Point Worldwide Inc. and Chemular Inc. (“Joint Venture”) can successfully achieve its intended goals; the joint venture's ability to innovate in atomization technology or develop age verification technology for atomization equipment Capability; whether the company can collect accounts receivable in a timely manner; the company's ability to bring Ispire ONE to market; whether Ispire ONE can successfully achieve its goals; whether customers can obtain the expected benefits from Ispire ONE and the success of its products in the market; Ispire ONE's safety verification; and “management discussion and analysis of risk factors,” “financial conditions and operating results,” and “forward-looking statements” in the company's 10-K annual report for the year ending June 30, 2023 The risks and uncertainties described in the “Warning Notes” and other documents the Company has filed with the U.S. Securities and Exchange Commission. You should not rely solely on forward-looking statements as predictions of future events. The forward-looking statements in this press release relate only to events or information on the date of the press release. We are under no obligation to update or revise any forward-looking statements after the date of the press release, whether due to new information, future events, or other circumstances, or to reflect unanticipated events, unless required by law. You should understand that our actual future results may be far different from what we expected, so you should read this press release in conjunction with comprehensive information.

Contact

Investor Relations:
Sherry Zheng
718.213.7386
ir@ispiretechnology.com

KCSA Strategic Communications
Phil Carlson
212.896.1233
ispire@kcsa.com

Media Relations:
Ellen Mellody
570.209.2947
eMellody@kcsa .com