GREENVILLE, S.C. and VISTA, Calif., Feb. 03, 2017 (GLOBE NEWSWIRE) -- Flux Power Holdings, Inc. (OTCQB:FLUX), a developer of advanced lithium batteries for industrial applications including electric forklifts and airport ground service equipment, announced today the expansion of its national sales effort with the appointment of Ryan J. Greene as Eastern Regional Sales Manager, based in Greenville, SC. Mr. Greene possesses substantial technical expertise, a broad sales network and an impressive record of accomplishment in the industrial battery industry. He is responsible for sales and marketing functions on the East coast and represents Flux’s first sales professional east of Chicago.
Flux CEO, Ron Dutt, commented, “Ryan comes to Flux with tremendous excitement and confidence in the role lithium-ion batteries can play in bringing greater performance and return on investment to material handling electricity storage. He knows the forklift market extremely well, including the wide array of costs and challenges that customers face using lead-acid batteries. His industry reputation, drive and sales acumen should enable Flux to expand and strengthen our relationships with East Coast customers, battery distributors, equipment dealers and OEMs in a very meaningful way.”
Most recently, as Account Manager of Carolina Industrial Products (CIP), a leading regional forklift battery dealer, Mr. Greene successfully grew sales in his territories by over 1,000% over several years, with much of the increase coming from major forklift dealers. He was instrumental in establishing new accounts, fostering client relationships and building a sales network reaching over 185 manufacturers, warehouses and distribution centers. For his accomplishments, Mr. Greene earned the CIP President’s Million Dollar Sales Club Award.
Mr. Greene earned his B.S. degree in Business Administration and a minor in Accounting from North Greenville University.
Mr. Greene commented, “From my conversations with customers over the past few years, it became increasingly apparent to me that lithium-ion batteries were ideally positioned to become a major energy storage source in the markets I served. I wanted to position myself to play a leadership role in the industry conversion to lithium-ion, and Flux has been the very clear front-runner in developing lithium-ion storage for the material handling industry. I couldn’t be more excited to join Flux and to focus my industry knowledge and relationships on building their business on the East coast.”
Flux’s LiFT Pack battery line is UL-2271 listed and is designed for walkie pallet jack forklifts, widely used in warehouses and depots, on trucks and at retail locations. Flux’s lithium-ion battery solutions deliver improved performance and charging, greater efficiency and a substantially longer useful life, that create compelling total cost of ownership savings that have garnered significant attention with fleet managers.
An estimated 120,000 electric walkie pallet jacks are currently in use in North America, powered by decades-old lead-acid battery technology. This installed base of Class III pallet jacks provides a potential sales opportunity of nearly $400 million, in addition to over a $1 billion in future sales potential providing lithium-ion solutions for Class I and Class II lift equipment and the airport ground service equipment markets.
About Flux Power Holdings, Inc. ( www.fluxpwr.com ) Flux Power develops advanced lithium-ion batteries for industrial uses, including its first-ever UL 2271 Listed lithium-ion “LiFT Pack” forklift batteries. Flux solutions utilize its proprietary battery management system (BMS) and in-house engineering and product design. Flux batteries deliver improved performance, extended cycle life and lower total cost of ownership than lead-acid solutions. Flux sells primarily to lift equipment OEM’s, their dealers and battery distributors. Products include advanced battery packs for motive power in the lift equipment, airport ground support equipment, and portable power markets, as well as specialized equipment such as robotic mining equipment.
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This release contains projections and other "forward-looking statements" relating to Flux’s business, that are often identified by the use of "believes," "expects" or similar expressions. Forward-looking statements involve a number of 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 the development and success of new products, projected sales, the Company’s ability to timely obtain UL Listing for its products, the Company’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Company believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, Company can give no assurance that such statements will prove to be correct, and that the Company’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 Company assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
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Media & Investor Relations: Catalyst Global LLC Chris Eddy, Helen Sun 212-924-9800 flux@catalyst-ir.com
