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. 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. For more information, please visit Forward-Looking Statements Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. 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. įlux 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. Investors Hangout is a proud sponsor of "Stock Day," and Stock Day Media encourages listeners to visit the company's message board at. To hear Ron Dutt's entire interview, follow the link to the podcast here. We are also looking at leveraging partnerships to scale our growth and we're very excited about the next phase for Flux Power that we are working towards."ĭutt encouraged listeners and shareholders to keep up to date on the Company's current and upcoming projects as they continue to grow in the high demand sector of lithium-ion energy storage solutions. To provide Davis with an outlook for what is next for Flux Power, Dutt said, "Our priority is reaching profitability. So, it is still fairly early days, but we are seeing double digit growth in conversions from lead acid to lithium-ion."ĭutt, noting the continuously improving financials, added, "Along with continuing revenue from our Fortune 500 customers, many of which are household names, we continue to add customers every quarter, many with seven-figure, large fleet potential." "The estimates we have been able gather show only an 8-9% penetration of lithium-ion. "When we show customers the benefits of lithium-ion as an economically viable advanced form of energy, there is a strong demand to replace lead acid batteries," Dutt said. In response to Davis' consideration of which industries are making an energy transition away from lead acid batteries, Dutt said equipment handling, notably in airport equipment, continues to primarily rely on lead acid batteries. However, we still have steady demand for lithium-ion energy storage solutions that continue to grow among our customers, and we continue to build relationships and add new, large-company customers." "Our customers are seeing supply chain shortages and increased prices for shipping and steel abate, which may have impacted their ability to replace material handling equipment.
"Our business has continued unabated due to the strong demand in migration from lead acid to lithium-ion," said Dutt. Its growth, providing sustainable energy products to replace the lead acid battery packs used to power industrial and commercial equipment, has sustained through market uncertainty, with the Company in the last quarter alone adding two new large fleet customers. The Company has led in the design, manufacture, and sales of lithium battery packs for forklifts, airport equipment and more since 2009. (NASDAQ: FLUX) ("the Company"), a company that could see revenues swell towards $70 million as more Fortune 500 customers integrate its lithium-ion energy storage solutions for electrification across a range of industrial commercial applications.įlux CEO Ron Dutt joined Stock Day host Kevin Davis for an overview of the trends and issues behind a Company achieving 19 consecutive quarters of year-over-year growth providing cleaner energy solutions to power some of the largest fleets of material handling, airport ground support equipment, and stationary energy storage. May 31, 2023) - The Stock Day Podcast welcomed Flux Power Holdings, Inc.
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