Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium battery technologies for industrial applications including electric forklifts, today announced a global consumer packaged goods company (“packaged goods company”) has provided approval for its U.S. fleet managers to order Flux’s 24-volt LiFT Pack batteries to power their electric pallet jacks. This approval follows the completion of the customer’s evaluation of Flux’s full line of 24-Volt LiFT Pack lithium batteries designed for use on Class III pallet jacks or “walkies,” which are small forklifts operated by a user walking alongside.
The packaged goods company required technical approval of the Flux packs by the forklift OEM’s, Toyota Material Handling Group North America and Crown Equipment Corporation. As the packaged goods company assessed Flux’s 250Ahe LiFT Pack battery, they recognized the benefits of longer run times, no scheduled maintenance and lower total cost of ownership relative to legacy power solutions. They then expanded their evaluation to the 80Ahe and 135Ahe models, which allows each of their distribution centers to select the right size battery pack for their workload and charging requirements.
Following a few initial purchases beginning in July 2014, the packaged goods company took delivery of another 22 LiFT Packs in late 2014 to power both Crown and Toyota pallet jacks. Approval of the Flux LiFT Packs has been granted for the Crown WP 3000 and Toyota 7HBW23 pallet jacks.
Ron Dutt, Flux Power’s CEO, commented, “We are excited that this global consumer packaged goods provider has given approval for our innovative lithium battery packs and look forward to now bringing the benefits to their nationwide operations. We greatly appreciate the support of our solutions shown by this key customer. We are pleased that Crown and Toyota recognize the value our advanced lithium battery packs bring to their key customers and thank them for their support in making this happen. Today’s technical and purchase approvals are significant milestones that build Flux’s reputation, brand and market position.”
About Flux Power Holdings, Inc. (www.fluxpwr.com)
Flux Power develops and markets advanced lithium-ion energy storage systems (‘batteries’) based on its proprietary battery management system (BMS) and in-house engineering and product design. Flux storage solutions deliver improved performance, extended cycle life and greater return on investment than legacy 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 market, portable power for military applications and stationary power for grid storage.
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About Toyota Material Handling, U.S.A., Inc. (TMHU) (www.toyotaforklift.com)
Proudly manufactured in the United States, Toyota Industrial Equipment offers a full line of material handling solutions including forklifts, automated guided vehicles, fleet management services and tow tractors. Toyota’s commitment to quality, reliability and customer satisfaction, the hallmark of the Toyota Production System, extends throughout more than 220 locations in North America. For more information, visit www.ToyotaForklifts.com.
About Crown Equipment Corporation (www.crown.com)
Crown is one of the world’s largest material handling companies with a reputation for award-winning product design, advanced engineering and technology, and superior after-sale service. Crown’s business philosophy utilizes vertically integrated processes to design, manufacture and distribute forward-thinking, innovative solutions that improve customers’ productivity and operating efficiency. Crown produces a broad range of forklifts as well as automation and fleet management technologies. The company’s global headquarters is located in New Bremen, Ohio, USA, with regional headquarters in Australia, China, Germany and Singapore. Its employees number more than 10,000 worldwide. Crown operates a service and distribution network that exceeds 500 retail locations in over 80 countries. To learn more about Crown’s ideas for helping customers advance the productivity of their operations, visit www.crown.com
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This release contains certain "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 risks and 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, distribution partnerships and business opportunities and the uncertainties of customer acceptance of new products. Actual results could differ from those projected in due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update these statements or the reasons why actual results could differ from those projected. Although we believe that beliefs, plans, expectations and intentions in this press release are reasonable, there can be no assurance that they will prove to be accurate. 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.
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