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Flux Power Holdings Inc., a provider of energy storage systems, has entered into a non-binding letter of intent (LOI) to acquire KleenSpeed Technologies.

KleenSpeed develops technology for distributed energy markets, including grid storage. The LOI proposes that upon the successful closing of the acquisition, KleenSpeed will become a wholly owned subsidiary of Flux Power.

While the specific terms of the acquisition will be announced upon the execution of a definitive agreement, the acquisition is expected to be completed within the next 12 months.






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