Management to Showcase 64,000 Square Foot Production Facility and Recent Manufacturing & Production Process Improvements
Flux Power to Brief Investors on Complete Product Line of Lithium-Ion Battery Packs Including New Products for Class I-III Material Handling Equipment, Three-wheel Forklifts, Automated Guided Vehicles (AGV) and Autonomous Mobile Robots (AMR)
Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, will host an investor day on Tuesday, August 2, 2022, from 9:15 a.m. PT to 1:15 p.m. PT at its company headquarters and manufacturing facility in Vista, California.
Flux Power Chief Executive Officer Ron Dutt and Chief Financial Officer Chuck Scheiwe will be joined by other senior management team members to provide an overview of Flux Power’s clean, safe, and innovative lithium technology platforms, growth strategies and strategic initiatives. Immediately following the presentation and Q&A session, attendees will have the opportunity to tour the facility and join senior management for lunch.
Investors and analysts who attend the tour will see recent facility manufacturing process improvements to increase capacity and an additional production line, as well as the Company’s newest additions to its industrial and commercial energy solutions, including:
- L36-630 Battery Pack: In response to customer requests for a 36-volt option for 3-wheel forklifts, Flux Power leveraged the customer feedback from the L48 battery to develop a newly designed 36 volt offering to power 3-wheel forklifts.
- C48 Battery Pack: In response to recent improvements in technology and engineering design, Flux Power has developed the C48 for AGVs and AMRs. This design was improved to make the battery easier to service as well as lower the total cost of ownership for customers. AGVs and AMRs are increasing in popularity due to labor shortages in warehouses and distribution centers. AGVs and AMRs require a robust battery solution for high utilization rates and improved downtime.
- S24 Battery Pack: The S24 battery pack, which previously was only available in a 105Ah version, is now available in a high-capacity version, delivering 210Ah for extra-long and demanding shifts.
Space is limited and registration is required. For more details and to register for the event, investors and analysts should contact FLUX@mzgroup.us or call Chris Tyson at (949) 491-8235.
Time: 9:15 AM PT to 1:15 PM PT
Location: Flux Power’s Headquarters and Manufacturing Facility in Vista, CA
Flux Power recently announced its third quarter 2022 revenue had increased 89% to $13.2 million, representing its 15th consecutive quarter of year-over-year revenue growth. The Company received $20.5 million in new purchase orders during third quarter with customer order backlog at record $38.6 million. Recent strategic initiatives are driving increased backlog conversion, higher inventory turns and improved gross margins, resulting in progress to profitability.
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.
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. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; 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, deferral of shipments, 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 Flux Power’s ability to negotiate and enter into a definitive agreement in connection with the Letter of Intent. 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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Chris Tyson, Executive Vice President
MZ Group - MZ North America