Midwest Automotive Parts Supplier Converts from Propane Forklifts to European Electric Trucks Powered by Flux LiFT Pack Lithium-Ion Batteries
Vista, Calif., Sept. 05, 2018 (GLOBE NEWSWIRE) -- Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium batteries for industrial applications such as electric forklifts and airport ground support equipment, announced today it has secured a $350,000 order to provide Flux LiFT Pack X Series 48 volt, 600 ampere hour batteries and chargers for a Midwest automotive parts supplier. The customer is converting from propane power to leading European electric counterbalance trucks powered by Flux’s pioneering lithium-ion batteries.
Lithium-ion-powered electric forklifts offer a range of benefits over propane powered vehicles, with lower energy costs, greater flexibility and uptime, reduced maintenance expense, the elimination of emissions and a lower total cost of ownership being primary advantages.
The purchase order, Flux Power’s first for European electric counterbalance trucks and also its first sale to a customer converting from propane directly to lithium-ion electric power, was developed by Grand Rapids, Michigan-based Cisco Inc. Cisco is a source for all loading dock, batteries & charger sales, parts, and repair, covering all of Michigan and Northern Indiana, with resident techs in Traverse City, Flint, Brighton and Kalamazoo. Delivery is targeted for late November 2018.
Cisco Inc. commented, “We are impressed by Flux’s product line and their commitment t0 customer service and success, which made them a logical choice in this situation. Our customer had become aware of the efficiency, environmental and cost benefits of lithium-ion battery power which made it very attractive for them to convert from propane and become an early adopter of lithium-ion electric power. As awareness builds for the performance benefits of Flux’s LiFT Pack solutions, we fully expect to see growing interest and demand.”
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 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 primarily to lift equipment OEM’s, their dealers and battery distributors. Current products include advanced battery packs for motive power in the lift equipment and airport ground support markets.
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 Flux 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’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 the Company assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
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Released September 5, 2018