Flux Power Holdings, Inc., an innovator in lithium energy storage systems, provided an update on the expansion of its US distribution network and the development of a new lithium storage product line for electric tow vehicles.
Flux integrates advanced lithium cell technology with proprietary battery management systems, components and in-house product design to create state of the art, scalable electricity storage solutions for industrial and specialty use.
Acting CEO, Ron Dutt, said, “Flux is making solid progress in executing the ‘restart’ of our business under new direction with a disciplined operating model. We are targeting select key markets where we can deliver clear advantages in performance and cost of ownership, and where we see significant market scale. We are working with Wesley International, a leading manufacturer of industrial materials handling solutions, to build a lithium battery replacement for their top-rated Pack Mule product line. We dedicated 2013 primarily to executing the transition of our business, and enter 2014 confident we have the products and market strategy to deliver improved financial performance.”
Since restructuring and refocusing the business on industrial equipment, portable power and grid storage products, Flux has debuted its LiFT Pack line of batteries for the Class 3 forklift market. Flux has progressed from an initial April pilot into a full line of production products and is now in the process of building-out its dealer/distributor network, including Arizona, California, Missouri, Virginia, Florida, and Georgia, based on initial positive customer response.
Working with Wesley International, Flux has developed and is piloting a 36 volt lithium storage pack for use in Wesley’s Pack Mule line of electric tow vehicles used by Fortune 100 and other companies in warehouse, distribution center and manufacturing environments. Flux’s prototype lithium battery enables the replacement of existing lead-acid battery technology with solutions that perform better and have longer product life, with lower risk, maintenance and overall cost of ownership. Flux’s Pack Mule replacement battery program is expected to progress through development and testing and move into full production over the next two or three quarters.
Bob Fisher, President of Wesley International, added, “The prospect of improved performance, customer satisfaction and a lower cost of ownership from lithium storage packs is a win-win for our customers. We are excited to be teaming with Flux in developing these solutions and believe they will resonate with our larger global logistics and manufacturing clients.”
