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"This renewal, along with our existing cash, is intended to meet our anticipated capital resources to fund planned operations." "First Citizens Bank is a top-tier financial institution, and we are pleased to now be partnering with them on our revolving line of credit," said Chuck Scheiwe, Chief Financial Officer of Flux Power. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, has renewed the available credit under its existing facility with Silicon Valley Bank, a division of First Citizens Bank ("SVB Facility"), of $14.0 million to support higher working capital requirements related to increased customer demand. 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.VISTA, Calif., April 27, 2023-( BUSINESS WIRE)- Flux Power Holdings, Inc. Learn more about Flux Powerįlux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. Flux Power’s LiFT Packs, including the proprietary battery management system (BMS), provide customers with a better performing, more environmentally friendly, and lower total cost alternative, in many instances, to traditional lead acid and propane-based solutions. “Our intellectual property, protected by these three patents pending, strengthens our product platform to deliver increased battery longevity and efficiency to customers who use our lithium-ion battery packs to power their equipment.”įlux Power designs, develops, manufactures, and sells advanced rechargeable lithium-ion energy storage solutions for lift trucks and other industrial equipment including airport ground support equipment (GSE), energy storage for solar applications, and industrial robotic applications. “As a technology leader, we continue to invest in new developments to accelerate the adoption of lithium-ion battery packs,” said Flux Power CEO, Ron Dutt. These patents are designed to 1.) increase battery life by optimizing the charging cycle, 2.) give users a better understanding of the health of their battery in use, and 3.) apply artificial intelligence (AI) to predictively balance the cells for optimal performance.
#Flux power serial numbers
The US Patent and Trademark Office has assigned serial numbers for the following patents pending:Ħ3/116,839 – System And Method For Controlling The State Of Charge Of A Battery To Increase The Useful Life Of A Battery PackĦ3/116,842 – System And Method For Determining A State Of Health Of A Battery PackĦ3/116,846 – System And Method For Charge Balancing A Battery Pack Over Time (“Flux Power”) (NASDAQ: FLUX), a developer of advanced lithium-ion industrial battery packs for commercial and industrial equipment, today announced three new patents pending on advanced technology related to lithium-ion battery packs. Vista, CA – Decem– Flux Power Holdings, Inc.
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