Flux Power Announces Strategic Partnership with Leading Forklift OEM to Launch Private Label Battery Program

Rhea-AI Summary

Flux Power Holdings, Inc. (NASDAQ: FLUX) has announced a strategic partnership with a leading forklift OEM to launch a private label battery program. This collaboration showcases Flux Power's S-Series line, which now includes products with UL Type EE certification, meeting stringent industry demands. The partnership aims to accelerate the adoption of clean energy solutions in the material handling industry.

Key benefits of the S-Series UL Type EE Certified Batteries include:

• Enhanced safety for hazardous environments
• Superior performance with reliable, high-performance energy storage
• Environmental sustainability by replacing traditional lead acid batteries

This partnership allows the OEM to offer Flux Power's lithium-ion technology under their own brand, enhancing their product offerings and providing customers with cutting-edge energy solutions.

Positive

• Strategic partnership with a leading forklift OEM for private label battery program
• S-Series batteries received UL Type EE certification, meeting high safety standards
• Expansion into new market segment through OEM partnership
• Potential for increased sales and market share in the material handling industry

Negative

• None.

Financial Analyst

This strategic partnership marks a significant milestone for Flux Power, potentially boosting its market presence and revenue streams. The collaboration with a leading forklift OEM for a private label program could substantially increase Flux Power's sales volume and market share in the lithium-ion battery sector for material handling equipment. The UL Type EE certification for the S-Series batteries adds a competitive edge, potentially opening doors to high-value customers with stringent safety requirements. While specific financial projections aren't provided, this move could positively impact Flux Power's bottom line in the medium to long term. Investors should monitor upcoming quarterly reports for tangible effects on revenue and profitability.

Tech Expert

Flux Power's S-Series batteries with UL Type EE certification represent a significant technological advancement in the material handling industry. This certification is important for operations in hazardous environments, such as those with flammable gases or combustible dust. The lithium-ion technology offers superior energy density and longer cycle life compared to traditional lead-acid batteries, translating to improved operational efficiency for end-users. The private label program allows the OEM partner to leverage Flux Power's cutting-edge technology, potentially accelerating the adoption of lithium-ion solutions in the forklift market. This partnership could drive innovation and set new industry standards for safety and performance in electric material handling equipment.

Market Research Analyst

This partnership signals a growing trend towards electrification in the material handling industry. The move by a leading forklift OEM to offer private-labeled lithium-ion batteries indicates strong market demand for more sustainable and efficient power solutions. Flux Power's position in this collaboration could lead to increased brand recognition and market penetration, even if indirectly through the OEM's brand. The emphasis on safety (UL Type EE certification) and environmental benefits aligns with broader industry shifts towards ESG considerations. This strategic move could potentially reshape competitive dynamics in the forklift battery market, putting pressure on traditional lead-acid battery manufacturers to innovate or risk losing market share.

Key Milestone for High-Performance S-Series Batteries with Enhanced Safety and Sustainable Features

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, today announced a strategic partnership with one of the top forklift original equipment manufacturers (OEMs) to launch a new private label battery program. This collaboration marks a significant milestone for Flux Power’s S-Series line, which now includes products with the coveted UL Type EE certification, meeting the stringent demands of top-tier customers.

The partnership emphasizes Flux Power's commitment to innovation and excellence in the material handling industry, offering state-of-the-art lithium-ion batteries that deliver superior performance, safety, and environmental benefits. The new private label program will enable the OEM partner to offer Flux Power’s industry-leading lithium-ion technology under their own brand, enhancing their product offerings and providing customers with cutting-edge energy solutions.

“Partnering with a globally recognized forklift OEM aligns with our mission to accelerate the adoption of clean, reliable energy solutions in the material handling industry,” said Ron Dutt, CEO of Flux Power. “The introduction of our UL Type EE certified S-Series batteries through this private label program is a testament to our ongoing commitment to safety, quality, and customer satisfaction.”

Key Benefits of the S-Series UL Type EE Certified Batteries:

• Enhanced Safety: The UL Type EE certification ensures that the S-Series batteries meet rigorous safety standards, offering peace of mind to customers operating in hazardous environments.
• Superior Performance: Flux Power’s lithium-ion technology provides reliable, high-performance energy storage, improving the efficiency and productivity of material handling equipment.
• Environmental Sustainability: By replacing traditional lead acid batteries, Flux Power’s solutions contribute to a cleaner environment, reducing emissions and waste associated with battery maintenance.

The launch of this program comes at a time when the material handling industry is increasingly seeking sustainable and efficient energy solutions. Flux Power’s lithium-ion technology is poised to set new standards in the market, offering unmatched reliability and performance.

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.

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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View source version on businesswire.com: https://www.businesswire.com/news/home/20240912587367/en/

Media & Investor Relations:

media@fluxpower.com

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 significance of Flux Power's new partnership for its S-Series batteries?

The partnership with a leading forklift OEM allows Flux Power to launch a private label battery program, showcasing their S-Series batteries with UL Type EE certification. This expands Flux Power's market reach and validates the quality and safety of their lithium-ion technology in the material handling industry.

How does the UL Type EE certification benefit Flux Power's S-Series batteries?

The UL Type EE certification ensures that Flux Power's S-Series batteries meet rigorous safety standards, making them suitable for use in hazardous environments. This certification enhances the product's appeal to top-tier customers and demonstrates Flux Power's commitment to safety and quality.

What are the main advantages of Flux Power's lithium-ion batteries over traditional lead acid batteries?

Flux Power's lithium-ion batteries offer superior performance, enhanced safety, and environmental sustainability compared to traditional lead acid batteries. They provide reliable, high-performance energy storage, improve efficiency and productivity of material handling equipment, and contribute to a cleaner environment by reducing emissions and maintenance-related waste.

How might this partnership impact Flux Power's (FLUX) stock performance?

While specific stock impacts cannot be predicted, the partnership with a leading forklift OEM could potentially boost Flux Power's (FLUX) market presence, sales, and revenue. The expansion into the private label market and the validation of their technology through UL Type EE certification may be viewed positively by investors.