• Forza F22 Electrified Launch Video and Summary of the Presentation Now Available

FORT PIERCE, FL / ACCESSWIRE / July 27, 2023 / Forza X1, Inc. (Nasdaq:FRZA) ("Forza," the "Company"), a developer of electric sport boats aimed at promoting sustainable recreational boating, held its Forza X1 Electrified Launch Event at The Ben Hotel in West Palm Beach, Florida on July 8, captivating a crowd of 200 enthusiastic attendees. The event featured the premiere of the Company's F22 launch video, which featured the center console electric boat on the water. Specifically, the video showcased the skillfully crafted boat with its sleek design, extensive range, impressive speed, and state-of-the-art features. The Official Forza X1 F22 Electrified Launch Video can be watched on Forza's YouTube channel.

Following the video's premiere, Forza X1 executives and engineers gave engaging presentations discussing the history of the Company and the technological achievements of its boats and outboard electric motor and control system. A video summarizing some of the presentations at the Forza X1 Electrified Event can be found here.

Forza's engineers were on hand during the event to answer questions about the research and testing that went into developing the F22 and its outboard electric motor. Moreover, Visconti and Jim Leffew, President and CEO of Forza X1, Inc., provided more details about its electric boat manufacturing facility in Marion, North Carolina, currently scheduled for completion in Q3 2024, as well plans for other boat models and motors the Company is now testing. Attendees at The Ben Hotel also saw the F22 up close in a showroom and out on the water during several sea trials throughout the day.

With the successful launch event behind them, Forza plans to continue testing as it prepares to manufacture and deliver F22 center console boats to OneWater Marine, Inc. by the end of 2023 as part of the 100-unit order the Company received in June. "I am incredibly proud of the progress we have made in advancing sustainable boating experiences for water enthusiasts and was excited to share that with the public last Saturday," states Visconti. "This event was one of several significant steps we are taking on our journey to help foster an eco-friendlier future in the recreational marine industry. Our next big goal is getting our electric boats in customers' hands so they can see that our products offer a thrilling boating experience and contribute to a more sustainable and greener tomorrow for our oceans, lakes, and rivers."

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.

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 the bright future ahead of the Company, completing the Company's electric boat manufacturing facility in Marion, North Carolina in Q3 2024, plans for other boat models and motors the Company is now testing, plans to continue testing and prepare to manufacture and deliver F22 center console boats to OneWater Marine, Inc. by the end of 2023 as part of the 100-unit order the Company received in June and getting the Company's electric boats in customers' hands. 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 complete its electric boat manufacturing facility in Marion, North Carolina in Q3 2024, the Company's ability to manufacture and deliver the F22 center console boats to OneWater Marine, Inc. by the end of 2023, the Company's ability to get its electric boats in customers' hands 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
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