April 4, 2016
Flux Adds Sales & Operations Directors to Guide Launch of First-Ever UL 2271-Listed Lithium-ion Alternative to Lead-Acid Batteries for Walkie Pallet Jack Forklifts
- LiFT Packs Have Garnered Interest of Large, Material Handling-Intensive Companies
Because of Improved Performance and Safety with Lower Environmental Impact and Total Cost -
Vista, CA – April 4, 2016 — Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium batteries for industrial applications including electric forklifts, today announced the appointment of Steve Dickson as Director of Sales and Jon Berry as Director of Operations. These senior hires, who bring significant alternative energy technology experience across a range of industrial and commercial applications, will guide Flux as it transitions into active sales, marketing and commercial production of its UL 2271-listed lithium-ion LiFT Pack batteries for walkie pallet jack forklifts.
Flux CEO, Ron Dutt, commented, “Today’s appointments substantially enhance the strength of the Flux team as we prepare to launch and scale-up production and sales of our recently UL 2271-Listed Flux LiFT Pack battery solutions http://www.fluxpwr.com/products/lift-pack/. We have spent the past two years developing rugged, high-performing solutions, introducing and piloting the concept of a better performing, lower cost alternative to lead-acid batteries which have long dominated the industrial market. Those efforts helped us build strong relationships with distributors, dealers, lift equipment OEMS and importantly, customers that include some the world’s leading beverage, food, grocery and distribution companies.
“Now with our substantially enhanced, UL 2271-listed storage solution nearing initial production, Flux plans to realize the commercial potential of our solutions with the support and leadership of Steve and Jon in key roles. Our fiscal 2017 year, which begins on July 1st, is set up to be a transformational year for Flux, and we thank the loyal support of all our stakeholders in helping bring us to this point.”
Flux’s LiFT Pack solution is designed for walkie pallet jack forklifts, widely used in warehouses and depots, on trucks and at retail locations. An estimated 120,000 electric walkie pallet jacks are currently in use in North America, powered by decades-0ld lead-acid battery technology. This equipment provides a potential total available market of almost $400 million for a portion of Class III lift equipment. UL 2271 Listing complements Flux’s proven performance and total cost of ownership advantages by providing a widely recognized validation of the safety and durability of its LiFT Pack line.
Steve Dickson spent the last decade in senior sales positions concentrating on commercial and industrial electrical vehicle charging networks in Southern California and most recently selling energy storage solutions that address peak energy shaving and arbitrage applications. Steve brings a broad network of commercial contacts along with unique energy storage experience from successful positions at Powin Energy, Stem Energy, Ecotality and Infrastructure Networks. Steve earned his B.A. in Finance from Southern Connecticut State University.
Jon Berry was previously Director of Operations at Clean Air Power, an international manufacturer, distributor and vehicle converter specializing in the development of natural gas systems for trucks and heavy equipment. He also held management and engineering positions at Alstom Transport, PACCAR UK and Pilkington Aerospace. Jon earned a bachelor’s degree with Honors in Electrical and Electronic Engineering from Leeds University in England.
About Flux Power Holdings, Inc. (www.fluxpwr.com)
Flux Power develops advanced lithium-ion batteries for industrial uses, including its first-ever UL 2271 Listed lithium-ion “LiFT Pack” forklift batteries. Flux solutions utilize its proprietary battery management system (BMS) and in-house engineering and product design. Flux batteries deliver improved performance, extended cycle life and lower total cost of ownership than legacy lead-acid solutions. Flux sells direct and through a growing base of distribution relationships. Products include advanced battery packs for motive power in the lift equipment, tug and tow and robotics markets, portable power for military applications and stationary power for grid storage.
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This release contains projections and other “forward-looking statements” relating to Flux’s business, that are often identified by the use of “believes,” “expects” or similar expressions. Forward-looking statements involve a number of 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 the development and success of new products, projected sales, the Company’s ability to timely obtain UL Listing for its products, the Company’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Company believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, Company can give no assurance that such statements will prove to be correct, and that the Company’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 Company assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
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