Flux Power Holdings’ Prominent Customers Seeing Progress
December 4, 2012 (Source: Reuters) — Flux Power holdings, Inc. (OTCQB: FLUX) distributed news last week announcing that it had partnered with two prominent companies to bring to market the Flux affordable advanced energy storage systems for the Solar and Grid Storage market. Flux Power can supply lithium-ion based storage systems at or below the cost of lead acid battery systems, creating a greatly superior performing, cost effective energy storage systems unmatched by the competition.
Flux partnered with Schneider Electric SA (SCHN.PA) on the technology side to integrate Schneider’s Xantrex Inverter with Flux’s advanced energy storage systems to “create a customized, smart energy storage system that can provide back-up power, peak-shaving and off-peak power in many different applications,” according to the release. The Flux energy storage system will capture and store the energy produced by solar panels and wind turbines, and the inverter will convert the electricity from DC to AC power, match the power to the frequency of the grid and then deliver the power into either a micro grid (building or home) or the local grid (local power supplier grid). The combination of affordable lithium-ion based energy storage and the grid delivery capabilities of the Xantrex inverter have the potential to be a winning combination in the marketplace.
The second company that Flux has partnered with on this product line is Terra Steward. Terra Steward sells, designs and installs green energy systems (solar, wind and hydro) for residential and commercial uses. Terra Steward will bring these enhanced energy storage solutions to market under an agreement where they will provide installation and support services for the solution to the end users.
The news release highlights the penetration that Flux Power is making with their cost effective lithium-ion based energy storage systems. Flux has now partnered with one of the top global electric products companies and a leading supplier and implementer of green energy systems to supply the Flux product into the multi-billion dollar solar and grid storage markets in the U.S. Revenue generation for Flux from these partnerships and this product line should begin over the next couple of quarters.
Another customer of Flux Power that is making progress is GreenTech Automotive (GTA), a developer and manufacturer of affordable, energy efficient electric cars. Flux has a master supply agreement with GTA to supply battery systems to GTA for their electric Vehicles (EV). On November 21st, it was reported that GTA supplied a fleet of 10, new environmentally friendly, energy efficient electric cars to be used as the carpool of the office of the incoming President of the United Nations Climate Change Conference 2012 held in Qatar. Fahad Bin Mohammed Al-Attiya, the chairman of the Organizing Sub-Committee of the Conference said “Showcasing the electric cars fit will with Qatar’s vision for a more sustainable future.” The Chairman of GTA, Terry McAuliffe estimated that GTA’s first two-door cars on the market will cost about $20,000, far below the price of many electric cars currently on the market. “It is not green unless it is affordable” Mr. McAuliffe said. “It’s out goal to make it affordable.” With 17,000 delegates, observers and members of the press attending the conference, GTA could garner some international interest in their cars. Any increase in awareness for GTA, who could be one of Flux Power’s most prolific customers in a few years, is a positive for the future revenue generation for Flux.
These two events show Flux Power’s customers are beginning to make strides in utilizing the Flux energy storage systems. Flux is poised to make great strides in its business over the next few quarters, as their customers begin to penetrate their respective large markets.
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