Orders Reflecting Growing Trend of New Airline Customers Totaled over $6 Million in the Last Calendar Year with Additional Orders Expected Throughout 2025
VISTA, Calif., April 08, 2025--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a leading developer of advanced lithium-ion energy storage solutions for the electrification of commercial and industrial equipment, today provided an update on its significant presence within the airline industry’s continued electrification of Ground Support Equipment ("GSE"). Over the past calendar year, six new large North American airlines have placed purchase orders for Flux Power’s G-Series lithium-ion solutions to electrify their GSE fleets at 7 different locations in North America, further reflecting the industry’s accelerating commitment to sustainability.
These new airline customers purchase orders totaling over $6 million in the last calendar year with more orders expected this year, and the approximately $20 million in total GSE orders, reflect a growing trend of major airlines transitioning away from lead acid and fossil fuel-powered GSE in favor of cleaner, more efficient lithium-ion solutions. As airlines continue to adopt sustainability initiatives and carbon-reduction strategies, Flux Power’s energy solutions provide a reliable, high-performance alternative that enhances operational efficiency while lowering emissions and the total cost of ownership.
Averest Inc., Flux Power's trusted GSE sales and service provider, played a pivotal role in securing partnerships with these large airlines through their electric solutions expertise and strong commitment to customer satisfaction.
These purchase orders included Flux Power’s innovative 80-volt, G80 series batteries and Flux Power’s SkyEMS integrated telematics Cloud Software Platform that provides advanced data analysis capabilities, empowering customers with actionable insights for fleet optimization and operational efficiency. These batteries will power a range of essential ground support equipment including bag tractors and pushback tractors as part of the customers’ fleet electrification strategy.
"The growing list of airlines that have adopted our lithium-ion solutions during the past year speaks volumes about the shift toward electrification in ground support operations," said Krishna Vanka, CEO at Flux Power. "As regulatory pressures increase and airlines commit to and execute upon their long-term sustainability goals, we are proud to be at the forefront of the transition with our proven, high-efficiency energy solutions."
"We’ve seen firsthand how the airline industry is accelerating its shift to sustainable ground support operations," said Michael Hole, Director of Global Sales and Marketing at Averest. "We’re proud to help airlines transition their GSE fleets to Flux Power’s clean, reliable lithium-ion energy solutions."
About Averest, Inc.
Averest partners with leading manufacturers of industrial batteries and chargers who have the ability to produce products that meet our customer’s specific requirements. Focusing solely on the aviation industry, Averest is able to expertly recommend customized electric power solutions for every situation. Averest is on the forefront of new charging and battery technologies such as lithium batteries and high efficiency rapid charging systems. Averest, Inc. is leading the way towards a cleaner environment by offering technically sound electric power solutions which replace internal combustion engines in airline ground support equipment. For more information, please visit https://averest.co/.
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. Accordingly, statements are not guarantees of future results. Some of the important factors that could cause Flux Power’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: risks and uncertainties, related to Flux Power’s business, results and financial condition; plans and expectations with respect to access to capital and outstanding indebtedness; Flux Power’s ability to comply with the terms of the existing credit facilities to obtain the necessary capital from such credit facilities; Flux Power’s ability to raise capital; Flux Power’s ability to continue as a going concern. 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, cancellation of purchase orders, deferral of shipments, Flux Power’s ability to improve its gross margins, or achieve breakeven cash flow or profitability, 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 obtain the necessary funds under the credit facilities, 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, and changes in pricing. 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.
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