Vista, CA, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium batteries for industrial applications such as forklifts, announced today that it has secured a 17 unit purchase order for lithium-ion battery packs to power large airport ground support equipment (“GSE”) from the global aviation industry’s largest provider of cargo and aircraft ground handling services. The order was facilitated by Flux’s GSE distribution partner Averest, Inc. Product shipments are scheduled for April 2018 to two customer locations in Canada. Some of the units in the order will be customized for a specific equipment application, and these will be delivered direct to the manufacturer’s site for commissioning, illustrating Flux’s experience working with equipment manufacturers.
In partnership with Averest, Flux developed its 80 volt, 600 amp-hour GSE LiFT Pack in 2016 to provide a better performing and more cost effective power source for electric aviation ground support equipment, with an initial focus on baggage/cargo tractors. Airport GSE represents a natural industrial market extension for Flux, which was able to scale up its flexible platform and battery management system - proven out in its LiFT Pack line for electric forklifts. The far larger scale, power delivery and attractive total cost of ownership of Flux’s GSE solution also proved similar to the technical requirements for large counterbalance forklift equipment (Class 1 forklifts). In both cases, Flux’s lithium-ion solution provides a much needed alternative to the cumbersome, maintenance intensive and heavy lead-acid batteries currently in the market. A cold weather feature is also available to protect in below zero temperatures.
GSE LiFT Pack specs:
Power: from 300Ah (22.5kWh) to 600 Ah (45 kWh)
Weight: ranges from 1,500 to 2,100 pounds
Max continuous current: 350 A
Peak current: 700 A
Dimensions: up to 35 by 38 by 26 inches
Pictures of the GSE LiFT Pack are available on the Flux website here; http://www.fluxpwr.com/ground-support-equipment/
Averest President, Gabe Sampson, commented, “We are proud of our relationship with Flux and have witnessed first-hand, the performance benefits of lithium batteries for GSE applications. Our customers rave about the reliability and absence of maintenance, and we look forward to building upon our relationship with Flux to serve the needs of our global customer base.”
Since commencing commercial production of GSE packs in February 2017, Flux has sold several initial units to major U.S. Airlines who have piloted the solution with great success. Flux has also developed a special heated GSE pack to meet the punishing demands of cold winter operations in northern climates around the world. Several airlines are currently evaluating their future plans for expanded deployment of Flux’s lithium solutions. Further, with the improved electric storage performance now possible, the GSE industry is looking closely at transitioning additional equipment from diesel to electric power.
Flux CEO, Ron Dutt said, “Gabe Sampson and Averest have been great partners to Flux, supporting our development of a GSE solution and introducing us to multiple airport, airline, and ground service providers. We are grateful to Averest for facilitating this new order, Flux’s largest GSE order to date. We are at varying stages of engagement with other GSE customers where similar ordering patterns could also play out over the next year; modest battery pack purchases for piloting, followed by the start of meaningful deployments.”
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 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.
About Averest, Inc. (www.averest.biz)
Averest, Inc. specializes in providing battery and charger solutions specifically designed for the airline ground support equipment industry. Averest has become the frontrunner in providing these solutions by utilizing their vast aviation industry knowledge and partnering with leading manufacturers of industrial batteries and chargers who have the ability to produce products that meet their customer’s specific requirements. Averest is on the forefront of new charging and battery technologies such as lithium batteries and high efficiency rapid charging systems and is leading the way towards a cleaner environment by offering technically sound electric power solutions which replace internal combustion engines in airline ground support equipment.
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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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