Expanding Fortune 500 Customer Base Opens New Markets with Larger Fleets Featuring Next-Generation Heavy-Duty Battery Packs

VISTA, Calif. / May 09, 2023 / Business Wire / Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced it has completed UL Solutions compliance testing to obtain third-party, science-backed certification for its next-generation clean energy battery technology. The new Flux Power G2 Series platform introduces a line of heavy-duty battery packs with safe, stable lithium iron phosphate chemistry.

“As we expand relationships with large fleets, the UL Solutions compliance investigation and subsequent UL Listed designation demonstrates our market leadership and commitment to developing the highest quality lithium-ion battery packs on the market for our Fortune 500 customers,” said CEO Ron Dutt. “Safety and durability will always be our highest priorities, and the UL Solutions Listed label underscores our company values and due diligence to ensure that all products undergo independent third-party testing and validation for safety, performance, and stability.”

The newly designed product portfolio includes new Flux Power models for order pickers, 36-volt narrow aisle trucks, and a broad range of GSE vehicles with heavy-duty battery packs optimized to deliver peak performance. Modular components can be configured to accommodate voltage and capacity requirements ranging from 24 to 80-volt, and from 210 to 840-amp hours (Ah). Active cooling and heating for demanding applications in warm or cold environments are new features to address a wider range of indoor and outdoor applications and protection from extreme temperature environments, overcharge/discharge, high current, and drive-away protection. In addition, IP (Ingress Protection) ratings as high as IP66 are now available to avoid water intrusion.

Following a cadence of successful test cycles for previous generations of Flux Power clean energy battery packs, UL Solutions has now authorized in-house compliance testing at the company’s manufacturing facility in Vista, Calif, with periodic onsite and virtual inspections from the UL Solutions team. UL Solutions closely monitors the test schedule and provides oversight at designated intervals throughout the approval process.

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. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; 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, deferral of shipments, 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 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. 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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