SOURCE: Flux Power Holdings, Inc.

Flux Power Holdings, Inc.

March 19, 2015 11:17 ET

Flux Power Sees Growing Pace of Lithium Forklift Battery Demand With National Accounts; Projects Record LiFT Pack Shipments in Q3 '15

VISTA, CA--(Marketwired - Mar 19, 2015) - Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium batteries for industrial applications including electric forklifts, provided an update today on accelerating interest and demand for its LiFT Pack lithium batteries to power Class III electric forklifts or pallet jacks.

Flux has been stimulating growing customer traction, including pilots and initial orders, within the material handling industries of food and beverage distribution, grocery chains, logistics and trucking, and retail. Flux's third quarter ending March 31st (Q3'15) looks to be the strongest quarter yet for LiFT Pack activity, with unit shipment growth of 40% compared with Q2'15. While Flux is still in the early stages of its sales and marketing efforts, the demand trends are very encouraging.

With the launch of its LiFT Pack line last year, Flux has played a pioneering role in introducing the performance and cost benefits of lithium batteries versus legacy lead-acid solutions in the material handling industry. Flux Power's lithium batteries deliver substantially improved performance and a lower total cost of ownership compared to lead-acid batteries. The table below reviews piloting and initial purchases of Flux LiFT Packs with a select group of sixteen Flux regional and national accounts.

 
Flux Power Holdings, Inc.
National & Regional Account Progress for Walkie Pallet Jack LiFT Pack Line
(as of March 18, 2015)
Customer   Flux Progress
Type   Size (Est. Annual Sales)   Purchase Status   Pilot Status
Beverage Producer - Global   >$60B   Initial Packs   Completed
Beverage Producer - Global   >$45B   Initial Packs   Completed
Consumer Products - National   $1B   Initial Packs   Completed
Food & Beverage - National   >$9B   Initial Packs   Completed
Food Production - National   $1.5B   Initial Packs   Completed
Food Production - Regional   n/a   Initial Packs   Completed
Grocery Chain - National   >$3.5B   Initial Packs   Completed
Grocery Chain - National   n/a   Initial Packs   Completed
Specialty Retailer - National   >$9B   Initial Packs   Completed
Wholesale Grocery - Regional   $9.5B   Initial Packs   Completed
Food Distribution - National   $1B       Since Jan. 2015
Grocery Chain - Regional   $4B       Starts Apr. 2015
Logistics / Trucking - National   >$6B       Since Feb. 2015
Wholesale Grocery - National   >$25B       Since Jan. 2015
Wholesale Grocery - National   $6B       Since Feb. 2015
Wholesale Grocery - Regional   $2B       Since Nov. 2014
             

Flux Power CEO Ron Dutt commented, "After a year of active market development, we are very pleased with the growing interest for our lithium power solutions in the material handling industry. We are grateful to our partners and customers who have taken time to get to know us and learn how state-of-the-art power storage can bring substantial efficiency and cost benefits to logistics-intensive businesses.

"With an expanding base of distributors and customers that have tested our solutions and made initial purchases, we are excited to see them progress to repeat orders to extend their deployments. We are looking forward to build on this momentum at the ProMat 2015 convention in Chicago next week."

About Flux Power Holdings, Inc. (www.fluxpwr.com)
Flux Power develops and markets advanced lithium-ion energy storage systems ('batteries') based on its proprietary battery management system (BMS) and in-house engineering and product design. Flux storage solutions deliver improved performance, extended cycle life and greater return on investment than legacy solutions. Flux sells direct and through a growing base of distribution relationships. Products include advanced battery packs for motive power in the lift equipment, tug and tow and robotics markets, portable power for military applications and stationary power for grid storage.

Flux Blog: Flux Power Currents
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Twitter Company: @FLUXpwr Investor Relations: @FluxPowerIR
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This release contains certain "forward-looking statements" relating to Flux's business, that are often identified by the use of "believes," "expects" or similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include the development and success of new products, distribution partnerships and business opportunities and the uncertainties of customer acceptance of new products. Actual results could differ from those projected in due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update these statements or the reasons why actual results could differ from those projected. Although we believe that beliefs, plans, expectations and intentions in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar.

Flux, Flux Power and associated logos are trademarks of Flux Power Holdings, Inc.

Contact Information

  • Flux Power:
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    Director of Business Development
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