Tuesday, January 17, 2023

Flux Power Gets $14M Credit Facility

Vista, California-based Flux Power announced late last week that it has scored $14M in a credit facility, from Silicon Valley Bank. The company said the credit facility was an increase from its earlier $8M agreement with SVB, which it says it will use for higher working capital requirements due to increased customer demand. Flux Power is developing Lithium-ion energy storage products for the commercial and industrial market. terms of that credit facility were not announced.