Flux Power Announces Expanded Executive Role

Rhea-AI Summary

Flux Power Holdings, Inc. (NASDAQ: FLUX) has expanded the role of Jeff Mason, previously Vice President of Operations, to encompass additional authority and responsibilities. This change aims to enhance the efficiency of operations, logistics, and manufacturing processes, addressing growing purchase orders and improving margins through better supply chain management. Mason's experience includes previous roles at NEO Tech and Sumitomo Electric Interconnect Products. Flux Power focuses on advanced lithium-ion energy storage solutions, promoting environmental sustainability and lowering ownership costs.

Positive

• Expanded responsibilities for Jeff Mason to enhance operational efficiency.
• Focus on improving margins through better sourcing and supply chain management.
• Company's commitment to sustainability with lithium-ion solutions.

Negative

• Dependence on external factors like raw material availability for product delivery.

VISTA, Calif.--(BUSINESS WIRE)-- Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, has expanded the role of Jeff Mason, Vice President of Operations, to include additional Company authority and delegation. In this role, Jeff will continue to strategically lead operations to ensure quality and efficiency in supply chain, logistics and manufacturing.

Mr. Mason served as the Director of Manufacturing of Flux Power from 2020 to 2021, and Vice President of Operations since December 2021. Prior to joining the Company, Mr. Mason was the plant manager at NEO Tech, and has also worked at Sumitomo Electric Interconnect Products, Inc., Radio Design Labs, Inc., and Motorola Inc. during his career.

In this expanded position, Jeff’s responsibilities will include: the execution of the company’s operations, logistics, and manufacturing to ensure efficient delivery of growing purchase orders, improving backlog and continued expansion of margins through improved sourcing and supply chain management, and continual process improvement.

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. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; 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, deferral of shipments, 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 Flux Power’s ability to negotiate and enter into a definitive agreement in connection with the Letter of Intent. 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.

Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.

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Twitter: @FLUXpwr
LinkedIn: Flux Power

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006467/en/

Media & Investor Relations:

info@fluxpower.com

External Investor Relations:

Chris Tyson, Executive Vice President

MZ Group - MZ North America

949-491-8235

FLUX@mzgroup.us

www.mzgroup.us

Source: Flux Power Holdings, Inc.

FAQ

What is the latest news about Flux Power Holdings (FLUX)?

Flux Power has expanded Jeff Mason's role to enhance operational efficiency and handle growing purchase orders.

Who is Jeff Mason in Flux Power Holdings?

Jeff Mason is the Vice President of Operations whose role has been expanded to include more authority in operations.

What are the main responsibilities of Jeff Mason now?

His new responsibilities include improving logistics, manufacturing efficiency, and managing supply chain operations.

What does Flux Power Holdings do?

Flux Power develops advanced lithium-ion energy storage solutions for various commercial and industrial applications.

How does Flux Power contribute to sustainability?

The company offers lithium-ion battery solutions that reduce CO2 emissions and improve environmental metrics.