Flux Power Expands Commitment to Sustainability with New Partnership for Lithium-ion Battery Recycling
August 21 2024 - 8:31AM
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.
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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version on businesswire.com: https://www.businesswire.com/news/home/20240821303989/en/
Media & Investor Relations: media@fluxpower.com
info@fluxpower.com
External Investor Relations: Chris Tyson,
Executive Vice President MZ Group - MZ North America 949-491-8235
FLUX@mzgroup.us www.mzgroup.us
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