Flux Power Receives OEM-Approval for New L-Series L36-630|840 Ah Battery Packs for Class 1 3-Wheel Counterbalance Forklifts
Flux Power Holdings, Inc. (NASDAQ: FLUX) has announced OEM approval for its new L36 battery pack designed for Class 1 3-Wheel Counterbalance forklifts. The L36 comes in 630 Ah and 840 Ah capacity options and features integrated heaters, cooling, and a battery management system. This UL 2580 Listed pack is optimized for heavy-duty applications and includes Flux Power's patented SkyBMS telematics.
CEO Ron Dutt emphasized that this approval validates Flux Power's efforts in providing high-performance lithium-ion battery solutions that meet industry standards. The company aims to support the material handling industry's transition from internal combustion to electric power with their plug-and-play battery packs. Flux Power is also launching a new private label program for another top Forklift OEM this quarter.
- OEM approval for new L36 battery pack, expanding product portfolio
- L36 offers high capacity options (630 Ah and 840 Ah) for longer run times
- Features advanced technology including SkyBMS telematics and active cooling/heating
- UL 2580 Listed, ensuring safety standards compliance
- Launch of new private label program for another top Forklift OEM
- None.
The OEM-approval for Flux Power’s L36 battery pack for Class 1 3-Wheel Counterbalance Forklifts is a significant development for the company. This endorsement by a major OEM in the material handling industry can potentially open up new revenue streams and strengthen their market position. Investors should note that this approval not only validates the quality and reliability of Flux Power's products but also signifies the company's growing influence in the market. The inclusion of proprietary SkyBMS telematics and active cooling/heating makes this product standout, potentially translating to higher sales volume and customer retention.
From a financial perspective, this milestone could lead to increased sales and revenue, as it aligns with the industry's shift towards electric power. In the long term, this could bolster Flux Power’s market share in the material handling sector, providing a steady revenue stream. However, it is important to consider the competitive landscape and the potential for other companies to introduce similar or superior products. Additionally, the impact of this development on the company's financials will depend on the scale of adoption by current and new OEMs.
The L36 battery pack’s approval is a reflection of Flux Power’s technological innovation and engineering capabilities. The integration of SkyBMS telematics, which offers real-time monitoring and diagnostics, is a notable feature that sets this battery apart. This technology ensures optimal performance and safety, which are critical factors for industrial applications. Furthermore, the active cooling and heating system embedded in the battery enhances its efficiency and longevity, making it suitable for demanding applications.
For investors, understanding the technical superiority of this product is essential. The advanced battery management system (BMS) with overcharge, over-discharge and thermal protection translates to a higher level of safety and reliability, which can significantly reduce maintenance costs and extend the lifespan of the forklifts. This innovation positions Flux Power ahead of competitors who may still rely on traditional lead-acid batteries, thus potentially elevating the company’s reputation and market share in the industrial battery sector.
The material handling industry is undergoing an evolution with a notable shift from internal combustion engines to electric power solutions. Flux Power’s L36 battery pack, with its UL 2580 listing and enhanced safety features, is well-positioned to capitalize on this trend. The OEM approval is a strong indicator of market acceptance and could accelerate the adoption of their lithium-ion batteries in the sector.
From an investor’s perspective, the trend towards electrification in material handling is a important factor to consider. As more companies seek sustainable and efficient energy solutions, Flux Power's products could see increasing demand. However, market dynamics such as competition, pricing pressure and technological advancements by competitors must be monitored. Additionally, the company’s ability to scale production and maintain quality will be pivotal in sustaining growth and customer satisfaction.
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
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.
Key Specifications of the L36 Battery Pack:
- Voltage: 36V
- Capacity: 630 Ah & 840 Ah
- Features: Integrated heaters and cooling
- 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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Source: Flux Power Holdings, Inc.
FAQ
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