Flux Power Holdings, Inc. designs, develops, and sells rechargeable advanced energy storage systems. The company developed a high power battery cell management system (BMS) and has structured its business around this core technology. Its proprietary BMS provides three critical functions to its battery systems cell balancing, monitoring, and error reporting. Cell Balancing: This is performed by adjusting the capacity of each cell in a storage system according to temperature, voltage, and internal impedance metrics. This cell balancing management assures longevity of the overall system. Monitoring: This is performed by way of a physical connection to individual cells for monitoring voltage and performing calculations from basic metrics to determine remaining capacity and internal impedance. This monitoring assures measurements to best manage the system and assure longevity. Error Reporting: This is performed by analyzing data from system monitoring and making decisions on whether the system is operating out of normal specifications. This error reporting is crucial to system management as it ensures ancillary devices are not damaging the storage system and would give the operator an opportunity to take corrective action to maintain long overall system life. Using its proprietary BMS technology, the company offers completely integrated energy storage solutions or custom modular systems to its clients. In addition, the company developed a suite of complementary technologies and products that accompany and enhance the abilities of its core BMS products to meet the needs of the advanced energy storage market. The company has delivered approximately 14 mega watt-hours of advanced energy storage to clients, such as NACCO Materials Handling Group, Inc.; GreenTech Automotive, Inc.; Crown Equipment Corporation; Damascus Corporation; Columbia Parcar Corporation; Wheego Electric Cars Inc.; Epic Electric Vehicles; and Texas Association of Local Health Officials. Business Strategy The company is primarily focusing on the lift equipment with dealers/distributors, and secondarily, with other related industrial equipment, portable power, and stationary grid applications. The company is working with various lift equipment original equipment manufacturers, and their dealers and battery distributors to bring its advanced energy storage systems to the lift equipment market. In addition, the company is developing advanced energy storage systems for other related industrial equipment, portable power, and stationary grid applications ranging from 24 volt to 48 volt applications. The company also developed portable 24 volt battery packs for trial by the U.S. military, which is in trial. Products and Services The company focuses on cell and system management tools. From its modular 24-volt energy storage solutions to stackable charging, it provides the building blocks to create custom systems designed for a set of applications. Its systems use lithium-ion cells that are denser in energy than traditional lead-acid batteries, which allow its batteries to hold more charge over the same weight. The company’s systems manage individual cells and their charge cycles. BMS: The company’s proprietary BMS product provides three critical functions for battery systems: cell balancing, monitoring parameters and reporting errors to the system. Its BMS monitors parameters and reports errors to other devices, which can then determine the best action to take to prevent failure. Another BMS function is system cell balancing. The BMS would analyze each battery cell in the system during charge and discharge to determine, which cells to balance to prevent overcharging and allow the other batteries to catch-up and equalize capacity throughout the system. Battery Modules: The company supplies high-power, energy-dense advanced energy storage modules for the electrical vehicles, industrial, governmental and grid storage applications. Its primary product consists of the Flux Power 24-volt lithium pack and individual 3.2 volt cells in various sizes from 60AH to 900AH. The company offers varying chemistries and configurations based on the applications. Its battery modules are designed for its BMS. Chargers: The company’s smart charging solutions are designed to interface with its battery management system. Its smart chargers consist of both air-cooled and liquid-cooled chargers. These modular chargers can be stacked from 3kW – 300kW. Application Integration: The company develops to integrate lithium packs in various applications, including industrial equipment to portable energy storage. Customer Concentrations The company sells products directly to its customers, through lift equipment dealers, or through battery distributors. Its direct customers vary from small companies to military integrators. During the twelve months ended June 30, 2014, the company had two major customers that each represented approximately 10% of its revenues on an individual basis, or approximately $129,000 or 36% of its total revenues, which was a result of sales to two customers, Penguin ASI and Southern States Motive Power, which represented $67,000 or 18.7% and $62,000 or 17.3% of sales, respectively. Research and Development For the June 30, 2014, the company’s research and development expenses included approximately $536,000. Competition The company’s competitors in the lift equipment sector are major lead acid battery manufacturers, including GNB Hawker, Dekka, Enersys, Crown Battery and Interstate. Intellectual Property The company is pursuing patent applications relating to determining battery life and remaining battery life cycles. It is developing a certain number of BMS related patents. In addition, the company has various trademark applications and registrations protecting the Flux Power name and logo. These include Flux, Flux Power, and the Flux Power logo. As of June 30, 2014, the company had filed 11 patent applications in the United States, with 2 patents approved and issued.
flux power holdings inc (FLUX:OTC US)
985 Poinsettia Avenue
Vista, CA 92081
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