Lithium Battery Innovator Flux Power Launches Strategic Advisory Board With Appointment of Sir Nigel Burney and Stephen Capelli
Vista, CA – November 3, 2014 -- Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium battery technologies for industrial applications, today announced the formation of a strategic Advisory Board to support the Company’s strategic business development, partnering and operational initiatives, and named Sir Nigel Burney and Steven Capelli, both successful technology oriented executives and Flux Power investors, as inaugural Advisory Board members.
The Flux Advisory Board will be comprised of up to six members and work directly with Flux’s CEO and Board of Directors. The Advisory Board’s mission is to support the Company in the formation and execution of its business strategy, with particular emphasis on business development, partnering and strategic and financial investor introductions. Advisory Board members will be compensated with a grant of stock in their first year of service.
CEO, Ron Dutt, commented, “We welcome Steve and Nigel, with their broad experience and passion for Flux’s mission, as inaugural members of our Advisory Board. We view the Advisory Board as an efficient force- and expertise-multiplier, that will extend Flux’s reach across an array of key functions including business development, strategic introductions and strategic counsel. Their existing equity ownership in Flux, combined with the equity-based nature of Advisory Board compensation, aligns their efforts and interests directly with those of the Company and our shareholders.”
Sir Nigel Burney has built an impressive track record as an entrepreneurial investor in early stage companies after founding and running a successful publishing business for over 20 years, having initially earned a law degree at Cambridge. Sir Nigel’s hands-on experience as a venture investor, combined with his interest in cleantech and network of global business relationships, should make him an important contributor in advancing the commercialization of Flux’s innovative lithium storage solutions in the U.S. and in Europe.
Mr. Capelli brings over 20 years experience implementing operational improvements and integrating key strategic acquisitions that resulted in sales growth and improvements in profitability. Most notably, Mr. Capelli’s senior leadership roles at Sybase and Pyramid Technology were crucial to the successful ‘turnaround’ of both and eventual sale to SAP and Siemens respectively. His experience in corporate planning and business development should strengthen Flux’s sales, marketing and distribution focus and execution, particularly with national accounts.
About Flux Power Holdings, Inc. (www.fluxpwr.com)
Flux Power develops and markets advanced lithium-ion energy storage systems (‘batteries’) based on its proprietary battery management system (BMS) and in-house engineering and product design. Flux storage solutions deliver improved performance, extended cycle life and greater return on investment than legacy solutions. Flux sells direct and through a growing base of distribution relationships. 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.
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This release contains certain "forward-looking statements" relating to Flux’s business, that are often identified by the use of "believes," "expects" or similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include the development and success of new products, distribution partnerships and business opportunities and the uncertainties of customer acceptance of new products. Actual results could differ from those projected in due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update these statements or the reasons why actual results could differ from those projected. Although we believe that beliefs, plans, expectations and intentions in this press release are reasonable, there can be no assurance that they will prove to be accurate. 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.
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