Flux Power Accelerates Momentum with Major Order and Multi-Year Purchase Agreement

VISTA, Calif., February 4, 2020 - (Business Wire) - Flux Power Holdings, Inc., (OTCQB: FLUX), a developer of advanced lithium-ion battery packs for industrial applications such as electric forklifts and airport ground support equipment (GSE), today announced that it has received an order for several hundred GSE Packs for a global airline. The order was facilitated by Flux Power's GSE distribution partner Averest, Inc.

The nearly $6M order, on a retail basis, will be delivered in scheduled shipments throughout 2020 (subject to cancellations and/or change orders). The 80V, 300Ah lithium-ion battery packs will be deployed to power a fleet of baggage tractors at airports across North America.

"Airlines are increasingly looking for energy solutions for their GSE fleets that provide high performance, no emissions, and no water maintenance requirements," Flux Power CEO Ron Dutt commented. "The GSE Packs deliver all those benefits and provide a lower total cost of ownership for large fleets."

Additionally, Flux Power announced that it has signed a Master Purchase Agreement with one of its existing Fortune 500 global heavy equipment customers.

This new multi-year contract covers a broad range of lithium-ion battery packs for use in material handling equipment. Flux Power has been shipping packs to this customer beginning in Fall 2018, which has led to this agreement.

Flux Power plans to report results for its FY'20 Quarter Ending December 31, 2019 on February 11, 2020.

More Info: https://www.fluxpower.com/news/flux-power-accelerates-momentum-with-major-order-and-multi-year-purchase-agreement