Flux Power Advanced Lithium Battery Packs Approved for Use in Toyota and Raymond Forklifts
VISTA, Calif.--(BUSINESS WIRE)--Flux Power® Holdings, Inc. (OTCQB:FLUX), an innovator in advanced lithium energy storage systems, has received approval to sell its 24 Volt LiFT Pack lithium battery solution for Class III Toyota and Raymond “walkie” lift trucks (forklifts). Toyota is the world’s number one selling lift truck manufacturer1, selling under both the Toyota and Raymond brands in the U.S.
Following an extensive testing process, the Flux LiFT-24V battery pack was approved for use in Toyota and Raymond Class III lift trucks, both new trucks and as a replacement option for existing trucks. The Industrial Truck Association (ITA) defines Class III “walkies” as electric-motored lift trucks operated by an individual walking behind the vehicle.
Toyota and Raymond are both part of Toyota Material Handling Group North America but operate as separate brands with distinct product lines and distribution channels. This approval enables Flux Power to sell into the vast Toyota and Raymond dealership network across the U.S. Toyota has more than 220 industrial equipment dealerships nationwide, while Raymond’s network includes more than 100 locations.
Compared to most lead-acid batteries used in forklifts, Flux LiFT Packs deliver longer run times, superior performance and longer life cycles, require no regular maintenance and provide lower total cost of ownership over the battery’s lifetime.
Flux Power CEO, Ron Dutt, commented, “Toyota and Raymond are leaders in researching and commercializing new technologies to improve power and performance in the electric lift truck market. This approval represents a significant step for Flux in achieving industry acceptance and expanding awareness for a battery pack that will benefit customers through lower operational costs and improved fleet efficiencies.”
Toyota Material Handling, U.S.A., Inc. (TMHU) (www.toyotaforklift.com)
Toyota Material Handling, U.S.A. based in Columbus, Ind., offers a full line of high-quality lift trucks sold under the Toyota brand and has been the number one selling lift truck manufacturer in the U.S. since 2002. There are more than 70 authorized Toyota Industrial Equipment dealers and more than 220 dealership locations throughout North America. Toyota dealers offer comprehensive customer service and support, including one-stop shopping for both new and used lift trucks, rentals, parts and service, fleet servicing and financing.
The Raymond Corporation (www.raymondcorp.com)
The Raymond Corporation is a global provider of material handling solutions that improve space utilization and productivity, with lower cost of operation and greater operator acceptance. High-performance, reliable, ergonomically designed Raymond lift trucks range from a full line of manual and electric pallet trucks and walkie stackers to counterbalanced trucks, reach trucks, orderpickers and turret trucks.
Flux Power Holdings (www.fluxpwr.com)
Flux Power designs, develops, and markets advanced energy storage systems (“batteries”) offering improved performance, extended cycle life and greater return on investment. Flux sells direct and through a growing base of distribution relationships. Products include batteries, packaged modules, advanced energy storage systems and components such as stand-alone battery management, stackable chargers, programming software and display systems.
Investor Relations: @FluxPowerIR
This release contains certain "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 risks and 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, distribution partnerships and business opportunities and the uncertainties of customer acceptance of new products. Actual results could differ from those projected in due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update these statements or the reasons why actual results could differ from those projected. Although we believe that beliefs, plans, expectations and intentions in this press release are reasonable, there can be no assurance that they will prove to be accurate. 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.
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1 Modern Materials Handling, Top 20 Lift truck suppliers, 2013, August 1, 2013