Flux Power Unveils New Onboard Integrated Charging Option at MODEX 2024
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The introduction of an onboard charger for the M24 lithium-ion battery pack by Flux Power Holdings signifies a potential competitive advantage in the industrial equipment electrification sector. This innovation addresses a critical efficiency bottleneck in warehouse operations: the need to return equipment to a charging station. By enabling forklift operators to charge wherever an outlet is available, Flux Power may see increased product adoption, which could positively influence their market share and revenue growth.
From a market perspective, the ease of charging could translate into reduced downtime for equipment, leading to higher productivity levels in logistics and warehouse settings. This feature may also appeal to operations looking to optimize space, as the need for designated charging areas could be minimized. However, it is essential to monitor the market's response to this new feature, as the adoption rate will hinge on the balance between the product's cost, effectiveness and the operational cost savings it promises.
Flux Power Holdings, Inc.'s strategic move to unveil an onboard charger could be indicative of their investment in R&D and commitment to innovation. For investors, the key metrics to watch following this announcement would be the sales growth of the M24 battery packs and the operational margins. The latter could see improvement if the new technology enables Flux Power to command a premium price or achieve cost savings in production or customer service.
Additionally, the market will be looking for signs of how this product enhancement might impact Flux Power's competitive positioning within the industrial battery sector. If the onboard charger option is patented or has proprietary technology, it could create barriers to entry for competitors and potentially lead to an increase in market valuation. However, investors should remain cautious and seek evidence of customer uptake and how this translates into financial performance before drawing conclusions on the long-term impact.
The adoption of onboard charging technology for forklifts could have a ripple effect throughout the supply chain. It simplifies the recharging process, potentially reducing the total cost of ownership for the equipment by eliminating the need for additional charging infrastructure and reducing labor associated with moving equipment to and from charging stations. Furthermore, this technology could become a sustainability enabler by supporting more efficient energy usage and aligning with green supply chain initiatives.
However, the supply chain impact will depend on the reliability and longevity of the charging technology. If it can withstand the rigors of continuous warehouse operations without frequent maintenance or replacement, it could set a new standard in the industry. Conversely, if the technology fails to deliver on its promises, it could disrupt operations and lead to additional costs. Therefore, ongoing performance monitoring and post-adoption studies will be crucial to evaluate the true impact of this innovation on supply chain efficiency.
New Onboard Integrated Charger Option for M24 Lithium-ion Battery Pack Plugs into Any Outlet Anywhere for More Efficient Warehouse Operations
M24 OnBoard Charger (Photo: Business Wire)
Flux Power CEO Ron Dutt commented, "Onboard integrated charging with the M24 battery pack for end riders and center riders will be a game changer for operations. Any forklift operator will be able to plug the battery pack into any outlet, anywhere in the warehouse, instead of returning the rider pallet jack back to the charging station. The introduction of this flexible, efficient charging solution is yet another example our solid track record of introducing new technologies and reliably satisfying our customers.”
Flux Power will showcase its complete product line at Booth C4085 in Hall C.
If you would like to schedule a one-on-one meeting or media interview with Flux Power CEO Ron Dutt Monday, March 11 or Tuesday, March 12 between the hours of 1:00pm-4:00pm ET, please make your request to media@fluxpower.com.
About MODEX 2024
MODEX is one of the largest manufacturing and supply chain events for the year. From education to new technology, MODEX allows attendees to connect, learn, and meet with new contacts and discover the latest trends in the industry. For more information visit www.modexshow.com.
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About Flux Power Holdings, Inc.
Flux 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. 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. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.
Forward-Looking Statements
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. 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. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’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 Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
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Source: Flux Power Holdings, Inc.
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