Forza X1’s Electric Propulsion System and Outboard Motor Selected by Polaris Marine as Polaris Unveils Electric Propulsion on Godfrey and Bennington Pontoon Concept Vessels

FORT PIERCE, FL / ACCESSWIRE / August 31, 2023 / Forza X1, Inc. (Nasdaq:FRZA) ("Forza," the "Company"), a developer of fully electric sport boats, motors, and control systems for sustainable recreational boating, announced today that Polaris Marine selected Forza X1 to electrify two pontoon boats as demonstration units for Bennington^® and Godfrey^® Pontoon. Over the last several weeks, Polaris Marine revealed they successfully showcased several high-horsepower EV concept vessels at their annual dealer meetings in Syracuse, Indiana. Bennington and Godfrey Pontoon utilized the Forza X1's outboard motor to test and demonstrate the potential for the future development of watercraft optimized for electric propulsion. Forza's motor powered two concept vessels, including the 26-foot, 6-inch 2024 Bennington L-Series Bowrider and the 23-foot, 11-inch 2023 Godfrey Monaco 235 platforms.

"Our entire Forza X1 team rallied to support Polaris' mission to fully electrify Bennington and Godfrey Pontoon for their annual dealer meetings," explained Jim Leffew, CEO and President of Forza X1, Inc. Leffew added, "It was great to work with the forward-thinking engineers and management from Polaris Marine, including the Boat Innovation Group and production and engineering teams from both Bennington and Godfrey." Over fifty test runs were performed with the Forza X1 electrified vessels, and both units performed flawlessly over the course of the dealer meetings, which ran from August 9 through August 24, 2023.

Adopting effective high-power, high-performance, and long-range electric propulsion is anticipated to be the next evolution in luxury pontoons because electric propulsion adds the benefits of instantaneous torque and the ability to sometimes travel in restricted waterways. Additionally, a luxury pontoon that utilizes electric propulsion can contribute to more fun on the water. For example, electric motors are easier to maintain as there are fewer moving parts and they require no oil changes or scheduled engine maintenance. Moreover, overnight charging replaces the need for carrying gas cans onboard, improving the overall boating experience. And the reduction in noise level that electric propulsion allows for compared to gas-powered outboards makes it easier to relax or converse with other passengers.

Polaris reported that, "The concept vessels were selected for demonstration due to the ability to place the batteries in a central location. The models are both popular platforms for their respective brands, giving the engineering teams opportunity to explore and validate the capability of electric propulsion, while allowing dealers a behind-the-scenes look at some of the testing and learning that is taking place within Polaris Marine." The systems were controlled by a custom interface, Garmin touch screen display, and equipped with 4G connectivity for monitoring the system remotely via an app.

About Forza X1, Inc.

Forza X1, Inc.'s mission is to inspire the adoption of sustainable recreational boating by producing stylish electric sport boats. We are focused on creating, implementing, and selling electric boats utilizing our electric vehicle technology to control and power our boats and proprietary outboard electric motor. Our electric boats are being designed as fully integrated electric boats, including the hull, outboard motor, and control system. For more information, please visit forzax1.com.

Bennington^® is a registered trademark of Pontoon Boat, LLC a wholly-owned subsidiary of Polaris Industries Inc.
Godfrey^® is a registered trademark of Highwater Marine, LLC, a wholly-owned subsidiary of Polaris Industries Inc.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding adopting effective high-power, high-performance, long-range electric propulsion being the next evolution in luxury pontoons, and a luxury pontoon that utilizes electric propulsion contributing to more fun on the water. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to develop and manufacture its fully integrated electric boats and motors as planned, and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

Contact:

Glenn Sonoda
investor@forzax1.com

SOURCE: Forza X1, Inc.