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iPower Inc:

Hydroponic equipment provider enters EU market

iPower has expanded into the European market with the completion of its first order delivery to Amazon 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.

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