Flux Power sees growing pace of lithium forklift battery demand
Flux Power Holdings, Inc., a developer of advanced lithium batteries for industrial applications including electric forklifts, provided an update on accelerating interest and demand for its LiFT Pack lithium batteries to power Class III electric forklifts or pallet jacks.
Flux has been stimulating growing customer traction, including pilots and initial orders, within the material handling industries of food and beverage distribution, grocery chains, logistics and trucking, and retail. Flux’s third quarter ending March 31st (Q3’15) looks to be the strongest quarter yet for LiFT Pack activity, with unit shipment growth of 40% compared with Q2’15. While Flux is still in the early stages of its sales and marketing efforts, the demand trends are very encouraging.
With the launch of its LiFT Pack line last year, Flux has played a pioneering role in introducing the performance and cost benefits of lithium batteries versus legacy lead-acid solutions in the material handling industry. Flux Power’s lithium batteries deliver substantially improved performance and a lower total cost of ownership compared to lead-acid batteries. The table below reviews piloting and initial purchases of Flux LiFT Packs with a select group of sixteen Flux regional and national accounts.
—————————————————————————- Flux Power Holdings, Inc. National & Regional Account Progress for Walkie Pallet Jack LiFT Pack Line (as of March 18, 2015) —————————————————————————- Customer Flux Progress —————————————————————————- Size (Est. Annual Purchase Type Sales) Status Pilot Status —————————————————————————- Beverage Producer – Global >$60B Initial Packs Completed —————————————————————————- Beverage Producer – Global >$45B Initial Packs Completed —————————————————————————- Consumer Products – National $1B Initial Packs Completed —————————————————————————- Food & Beverage – National >$9B Initial Packs Completed —————————————————————————- Food Production – National $1.5B Initial Packs Completed —————————————————————————- Food Production – Regional n/a Initial Packs Completed —————————————————————————- Grocery Chain – National >$3.5B Initial Packs Completed —————————————————————————- Grocery Chain – National n/a Initial Packs Completed —————————————————————————- Specialty Retailer – National >$9B Initial Packs Completed —————————————————————————- Wholesale Grocery – Regional $9.5B Initial Packs Completed —————————————————————————- Food Distribution – National $1B Since Jan. 2015 —————————————————————————- Grocery Chain – Regional $4B Starts Apr. 2015 —————————————————————————- Logistics / Trucking – National >$6B Since Feb. 2015 —————————————————————————- Wholesale Grocery – National >$25B Since Jan. 2015 —————————————————————————- Wholesale Grocery – National $6B Since Feb. 2015 —————————————————————————- Wholesale Grocery – Regional $2B Since Nov. 2014 —————————————————————————-
Flux Power CEO Ron Dutt commented, “After a year of active market development, we are very pleased with the growing interest for our lithium power solutions in the material handling industry. We are grateful to our partners and customers who have taken time to get to know us and learn how state-of-the-art power storage can bring substantial efficiency and cost benefits to logistics-intensive businesses.
“With an expanding base of distributors and customers that have tested our solutions and made initial purchases, we are excited to see them progress to repeat orders to extend their deployments. We are looking forward to build on this momentum at the ProMat 2015 convention in Chicago next week.”
