While more expensive than alkaline batteries, lithium-ion batteries are
widely lauded for their light-weight and long-lasting characteristics. As one
of the most energetic rechargeable batteries on the market, lithium batteries
are often used in critical devices such as implantable electronic medical
devices and wireless alarm systems, as well as a range of non-critical devices
such as portable consumer electronics, cameras and toys.
Utilizing a proprietary battery management system (BMS) and in-house
engineering and product design, California-based Flux Power develops and
markets advanced lithium-ion batteries for a more industrial range of
applications. The company’s line of products include advanced battery packs for
motive power in the lift equipment, tug and tow and robotics market; portable
power for military and entertainment applications; and stationary power for
grid storage.
Flux employs a direct and distribution sales strategy, and in Q1 2015
reported revenues of $86,000 – more than double Q1 2014 revenues of $34,000 –
but lower than Q4 2014 revenues of $201,000, which included more than $60,000
in revenue from delivery of Flux’s 48V battery array for an underground mining robot.
The company narrowed its quarterly loss to $197,000, or $0.00 per basic share,
in Q1 2015 compared to a prior-year Q1 net loss of $746,000, or $0.02 per
diluted share.
When it comes to cash flow, Flux secured a $500,000 line of credit from
an unaffiliated Flux shareholder in Q1 2015 and to-date has drawn $190,000 in
funding under the line. Additionally, as of November 13, 2014, Flux had raised
an additional $322,500 to support inventories and working capital needs through
follow-on private placements. According to a recent news release, the company
plans to use its funding to build inventory to support its growing order
pipeline.
According to Frost & Sullivan’s 2013 Global Lithium-Ion Battery
Forecast, the market is expected to double in size to $23 billion by 2016,
driven by performance, cost advantage and new applications. Industrial demand
of the market, on which Flux is heavily focused, is projected to nearly
quadruple from 2012 figures to hit $11 billion by 2016.
To accommodate for the quickened pace of growth, Flux grew its base of
distribution partners from coverage in four states in the first half of 2014 to
18 states by the second half of the year. At a glance, Flux appears
well-positioned to leverage its patented technology and improving financial
position take advantage of a rapidly growing market with limited competition.
For more information, visit www.fluxpwr.com
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