![]() ![]() Flux has successfully completed audits for ISO 9001 certification and is awaiting issuance of the formal certification document.LiFT Pack production capacity continues to expand over recent quarters to 56 packs per week, with an increase to 84 packs per week targeted for early November.Development of packs for Class 2 equipment is on track, trailing the progress of Class 1 by approximately two months. Flux customers will begin evaluation of Class 1 packs in November, with commercial production targeted to begin in the first calendar quarter of 2018.Contemplated pricing for Flux’s Class 1 and 2 battery solutions is four-to-six times that of its Class 3 Walkie LiFT Packs. The Class 1 and 2 forklift battery market, while about equal to Class 3 based on units sold, is far larger than Class 3 in terms of revenue.The Class 1 and 2 equipment markets are a natural progression of Flux’s business, leveraging its scalable technology and design, while also enabling Flux to serve larger customers seeking one lithium battery vendor to address all their material handling equipment needs.Flux continues to develop much larger lithium battery solutions for Class 1 and Class 2 material handling equipment.However, because of non-disclosure agreements, Flux is unable to comment further on its OEM dialogues. Flux expects significant developments on the OEM front within the next several months.Several recent Flux orders have been facilitated by OEMs, and Flux is developing specific products at the request of certain OEMs.Flux’s Class 3 LiFT Packs have received technical approvals from several of the largest forklift OEMs, and Flux continues to work toward its goal of making its lithium batteries a standard OEM option both for lead-acid replacement and for new equipment. Flux continues to work closely with leading forklift OEMs to advance customer exposure and access to Flux Lithium packs.Includes a $100,000 recently-shipped initial order from a national food distributor.Flux is in discussions on a similar-sized order with same customer with a potential delivery in January 2018. Includes Q1’18 sales plus a $0.5M order - Flux’s largest-ever - from a global beverage company for delivery in November.In comparison, Flux had total revenue of $474,000 in the first six months of fiscal 2017. In the first 4 months of FY 2018, Flux has secured $0.8M in orders for Class 3 lithium LiFT Pack batteries.It had become clear that the distribution channel was not yet effective in catalyzing purchasing interest from key customers, a function that Flux’s enhanced team is now well suited to execute. Customer focus has been shifted to Fortune 500 companies and other large end-users with significant national or regional forklift fleets.The new team has already made significant progress advancing dialogues with customers, OEMs, dealers and battery distributors. Flux’s regional sales team brings a new level of experience and relationships in the material handling equipment and battery segments.Appointed new national sales director, Tod Kilgore, who has repositioned Flux’s sales strategy and recruited new sales management targeting four geographic regions.Flux has refocused its sales effort and substantially enhanced its sales team over the last six months, contributing to strong year-to-date order activity and a growing sales pipeline.We believe the long-term sales potential for the displacement of lead-acid solutions with lithium power represents a multi-billion-dollar opportunity, and Flux is very well positioned to play a meaningful role.” “Flux is committed to building out our product lines to serve this growing market. lead-acid solutions and are now at various stages of procurement evaluation, planning and initial deployments. Many leading global companies – with intensive material handling requirements - now recognize the clear performance, safety and total cost benefits of lithium power vs. Flux will host a conference call today at noon ET to update investors and answer questions (details below).įlux CEO, Ron Dutt, commented, “After four years of development and customer and channel communications, we believe the industry-wide adoption of lithium-ion forklift batteries has begun and will continue to gain momentum going forward. (OTCQB:FLUX), a developer of advanced lithium industrial batteries today reviewed recent sales, marketing and product development progress in its lithium forklift battery business. 25, 2017 (GLOBE NEWSWIRE) - Flux Power Holdings, Inc. ![]()
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