Flux Power Expands Commitment to Sustainability with New Partnership for Lithium-ion Battery Recycling
VISTA, Calif.–(BUSINESS WIRE)–Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, is proud to announce a new partnership aimed at enhancing the recycling process for end-of-life lithium-ion batteries with the largest critical battery components recycling company in the U.S. This collaboration represents a significant step forward in Flux Power’s ongoing commitment to environmental responsibility.
Flux Power’s recycling partner is focused on creating a circular supply chain for electric vehicles and clean energy products, making them more sustainable and driving down the cost for batteries by developing and deploying new technologies to increase the scope and scale of recycled and sustainable materials in the global battery supply chain.
As the demand for battery recycling continues to grow alongside Flux Power’s expanding business, the company recognizes the importance of addressing the recycling needs of products sold in the past decade. Flux Power’s existing recycling initiative responsibly decommissions returned battery packs, ensuring the recycling of components, including electronics, wires, cables, sheet metal, and LFP lithium-ion cells and modules.
“Through this collaboration, our recycling partner has commenced the reception and recycling of these cells and modules, marking a major milestone in our sustainability efforts,” said Ron Dutt, CEO of Flux Power. “By aligning with a leader in the recycling industry, Flux Power continues to champion innovation and excellence in reclaiming valuable materials and supporting a closed-loop supply chain, thereby contributing to a more sustainable future and supporting global electrification efforts.”
Flux Power is dedicated to helping customers reduce their carbon footprint and improve their Environmental, Social, and Governance (ESG) performance. This new partnership underscores our commitment to sustainability and environmental stewardship, highlighting the company’s proactive approach to minimizing environmental impact.
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. Accordingly, statements are not guarantees of future results. Some of the important factors that could cause Flux Power’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: risks and uncertainties, related to Flux Power’s business, results and financial condition; plans and expectations with respect to access to capital and outstanding indebtedness; Flux Power’s ability to comply with the terms of the existing credit facilities to obtain the necessary capital from such credit facilities; Flux Power’s ability to raise capital; Flux Power’s ability to continue as a going concern. 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, cancellation of purchase orders, deferral of shipments, Flux Power’s ability to improve its gross margins, or achieve breakeven cash flow or profitability, 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 obtain the necessary funds under the credit facilities, 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, and changes in pricing. 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.
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