Flux Power Announces Increasing Traction of X-Series Lithium-ion Battery Packs with New Customers

Rhea-AI Summary

Flux Power Holdings, Inc. (NASDAQ: FLUX) has initiated the delivery of its advanced lithium-ion battery packs to two new customers, including a leading manufacturer and distributor of paper products with a fleet of over 2,000 forklifts and a Fortune 500 packaging manufacturer managing 500+ forklifts. This development signifies Flux Power's ongoing expansion in the growing lithium-ion market for industrial equipment, promoting better performance and environmental benefits compared to traditional battery solutions.

Positive

• Initiated deliveries of LiFT Pack X48 to two significant customers.
• New partnerships with a Top-5 global forklift manufacturer and a Fortune 500 packaging manufacturer.
• Expansion reflects increasing adoption of lithium-ion batteries in industrial applications.

Negative

• None.

Flux Power Holdings, Inc. (“Flux Power”) (NASDAQ: FLUX), a developer of advanced lithium-ion industrial batteries for commercial and industrial equipment, today announced that it has initiated delivery of lithium-ion battery packs for two new customers.

Working in partnership with a Top-5 global forklift manufacturer, Flux Power initiated deliveries of its LiFT Pack X48 to a leading manufacturer and distributor of paper products and related chemicals, with a fleet size of 2,000+ forklifts. The X48, which is UL Listed, is used to power Class I counterbalanced forklifts.

Additionally, Flux Power began delivery of its LiFT Pack X48 to a ‘Fortune 500’ packaging manufacturer with a forklift fleet size of 500+ units.

Flux Power continues to expand its customer base, reflecting the growing adoption of lithium-ion battery packs by companies with large forklift fleets.

About Flux Power Holdings, Inc. (www.fluxpower.com)

Flux Power designs, develops, manufactures, and sells advanced lithium-ion energy storage solutions for lift trucks, airport ground support equipment (GSE), stationary energy storage, and other industrial and commercial applications. Flux Power’s “LiFT Pack” battery packs, including its proprietary battery management system (BMS), provide its customers with a better performing, higher value, and more environmentally friendly alternative as compared to traditional lead acid and propane-based solutions.

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.

Follow us at:
Blog: Flux Power Blog
News: Flux Power News
Twitter: @FLUXpwr
LinkedIn: Flux Power

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005253/en/

FAQ

What recent delivery announcements did Flux Power make regarding its battery packs?

Flux Power announced that it has started delivering its LiFT Pack X48 lithium-ion battery packs to two new customers, enhancing its market presence.

Who are the new customers for Flux Power's battery packs?

The new customers include a leading paper products manufacturer with over 2,000 forklifts and a Fortune 500 packaging manufacturer with a fleet of 500+ forklifts.

What is the significance of Flux Power's new customer partnerships for FLUX stock?

These partnerships indicate Flux Power's growth in the lithium-ion battery market, potentially leading to increased sales and market share for FLUX.

What type of battery packs is Flux Power delivering?

Flux Power is delivering its LiFT Pack X48, an advanced lithium-ion battery pack designed for industrial forklifts.