L36 Addresses Customer Demand for UL Listed Heavy-Duty Battery Packs Optimized to Deliver Peak Performance Featuring Patented SkyBMS Telematics and Active Cooling and Heating for Demanding Applications
VISTA, Calif., July 16, 2024--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced the new L36 battery pack, for Class 1 3-Wheel Counterbalance forklifts, with 630 Ah and 840 Ah capacity options was officially approved by a major Original Equipment Manufacturer (OEM) in the material handling industry.
This latest addition to Flux Power’s portfolio underscores the company’s commitment to delivering reliable, efficient, and environmentally friendly power solutions tailored to the unique demands of the material handling sector.
"OEM approval for our L-Series: L36-630 Ah and L36-840 Ah battery packs validates our efforts in providing top-tier lithium-ion battery solutions that meet the rigorous standards of the industry," said Ron Dutt, CEO of Flux Power. "This endorsement highlights our strong relationships and approvals with leading material handling OEMs, and our commitment to provide them with lower cost and high-performance lithium-ion battery products. We are incredibly proud of our in-house engineering and software experts who are focused on designing lithium-ion battery packs like the L36 that are optimized for performance and safety.
"As the material handling equipment industry grows and continues its transition from internal combustion to electric power, we believe our plug-and-play battery packs will continue to be chosen by OEMs for their forklifts and other equipment. With new product launches of heavy-duty models addressing customer demand and a new private label program for another top Forklift OEM launching this quarter, we are highly focused on securing new customers and supporting the migration to lithium of current customers," concluded Dutt.
Safety Features: Integrated battery management system (BMS) with overcharge, over-discharge, and thermal protection
UL Listed: 2580
Forklift: Class 1 3-Wheel Counterbalance Forklifts
The L36-630 Ah battery pack is designed to optimize performance and efficiency in Class 1 Forklift options. This pack is built with higher capacity options to enhance forklift operations by providing longer run times and reducing the frequency of recharges, thereby increasing overall productivity and efficiency. With its robust design and advanced battery management system, it ensures superior safety, longer lifespan, and reduced total cost of ownership compared to traditional lead acid batteries.
About Flux Power Holdings, Inc.
Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.
Forward-Looking Statements
This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Accordingly, statements are not guarantees of future results. Some of the important factors that could cause Flux Power’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: risks and uncertainties, related to Flux Power’s business, results and financial condition; plans and expectations with respect to access to capital and outstanding indebtedness; Flux Power’s ability to comply with the terms of the existing credit facilities to obtain the necessary capital from such credit facilities; Flux Power’s ability to raise capital; Flux Power’s ability to continue as a going concern. Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, cancellation of purchase orders, deferral of shipments, Flux Power’s ability to improve its gross margins, or achieve breakeven cash flow or profitability, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to obtain the necessary funds under the credit facilities, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products, and changes in pricing. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of ?operations, financial condition and performance will not differ materially from the ?results of operations, financial condition and performance reflected or implied by these forward-?looking statements. Undue reliance should not be placed on the forward-looking statements and 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. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
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