Flux Power Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program
Vista, CA – Dec. 16, 2021 – Flux Power Holdings, Inc., a developer of advanced lithium-ion battery packs for commercial and industrial equipment, has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.
MZ Group will work closely with Flux Power management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight how Flux Power has achieved 13 consecutive quarters of year-over-year revenue growth and sold over 11,000 lithium-ion battery packs and energy storage solutions for industrial applications. The Company designs, develops, manufactures, and sells its UL Listed lithium-ion technology for lift trucks and other industrial equipment including airport ground support equipment (GSE), stationary energy storage for EV charging and has introduced a new Telematics technology called SkyBMS, which delivers battery pack data to optimize performance and customer fleet tracking. With the recent net proceeds of $14.1M from a registered direct offering, Flux Power is rapidly expanding into adjacent markets and developing a new, more efficient platform for its battery packs.
MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors and maintains offices worldwide.
Chris Tyson, executive vice president at MZ North America, will advise Flux Power’s IR team in all facets of investor relations including the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.
Ted Haberfield, chairman and president of MZ Group North America, commented: “The global lithium-ion battery market has continued to expand, propelled by electric vehicles and supportive government regulations. Grand View Research reports the global lithium-ion battery market size was $32.9 billion in 2019 and is expected to grow to $87.5 billion in 2027, at CAGR of 13%. Within this fragmented market, the industrial equipment segment is undergoing a multi-year transition away from internal combustion to electric power due to the cost savings and sustainability provided by electrification. The electric forklift battery market alone is projected to be $2.5 billion according to the ITA 2020 US Factory Shipments report. With only 5% penetration of lithium-ion batteries in the forklift market, Flux Power has significant opportunities to lead adoption for large Fortune 500 fleets. With a diverse and growing customer base across multiple segments the Company is well-positioned to grow the value of its technology into markets including airport ground support equipment (GSE), stationary energy storage, electric autonomous shuttles and additional verticals. This creates untapped value which presents an exciting opportunity, and we look forward to sharing this with our network of institutional, family offices and retail investors.”
Tyson added: “Flux Power has been delivering a full product line of high-performance lithium-ion battery packs that cater to large fleets in food, beverage, retail and grocery, manufacturing, and distribution for over a decade. These battery packs help to improve performance, lifespan, and efficiency while eliminating required maintenance for fleets, ultimately lowering the total cost of ownership compared to alternative lead acid batteries and propane. Lithium-ion battery packs increase sustainability and ESG metrics for fleets and reduce environmental impacts, with one analysis for a Fortune 100 customer finding over 2,000 tons of CO2 emissions saved per year. Emerging new applications used in stationary energy storage are a natural and sustainable product extension. Reinforced by a 64,000 sq ft facility that can support production for $100 million annual revenue, the Company has charted a clear expansion pathway. We look forward to working with management to communicate the immense value proposition Flux Power represents based on its increasing revenue and gross margin profiles,” concluded Tyson.
“With a full range of lithium-ion battery product lines in place and a fortified balance sheet, we are focused on executing on our sales roadmap and delivering on our record order backlog of $28.0 million with marquee customers,” said Ron Dutt, CEO of Flux Power. “Our advanced technologies will enable us to serve an increasing range of customers with higher unit volume sales and efficiencies that will continue to drive revenue and gross profit margin. We look forward to working with Chris and the entire team at MZ Group to communicate our proven track record leading lithium-ion battery adoption for large fleets, and building long-term value for our shareholders.”
