Ault Alliance Agrees to Acquire Majority Stake in Eco Pack Technologies LTD

Rhea-AI Summary

Ault Alliance's subsidiary, Eco Pack Technologies, is set to acquire an 80% stake in Eco Pack Technologies LTD, a UK-based innovator in sustainable secondary packaging solutions. The innovative packaging technology aims to replace conventional cardboard boxes and shrink-wraps, offering eco-friendly alternatives. Eco Pack's machinery is versatile and can be adapted to various manufacturing settings. The acquisition is expected to promote the growth of eco-friendly consumer goods production in the US, UK, Europe, and Asia.

Eco Pack Technologies LTD — a leading UK-based innovator, offers sustainable secondary packaging solutions for fast-moving consumer goods manufacturers through emphasizing low cost, reducing carbon footprint, and eliminating the need for the wasteful heat shrink packaging process

LAS VEGAS--(BUSINESS WIRE)-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”) announced today that its wholly owned subsidiary, Eco Pack Technologies, Inc., has entered into an agreement (the “Agreement”) to acquire an 80% ownership stake in Eco Pack Technologies LTD (“Eco Pack”).

Eco Pack is at the forefront of packaging transformation, offering eco-centric alternatives. Catering to fast-moving consumer goods manufacturers, Eco Pack employs Siemens Digital technology to address modern-day packaging challenges. Using the latest digital technology enabling data driven analysis and decision making, Eco Pack develops packaging that marries sustainability with reduced environmental repercussions. Its innovative approach is intended to enhance packaging design, material choice, and supply chain efficiency, allowing firms to adopt eco-friendly options without compromising on quality or performance. Notably, Eco Pack’s solutions are poised to replace conventional cardboard boxes and shrink-wraps prevalent in major retail chains. Engineered with a modular framework, Eco Pack's machinery is anticipated to be versatile enough to suit varied manufacturing settings. The Company believes that Eco Pack’s technology will pave the way for businesses to adopt eco-friendly measures, which many customers may find attractive.

Milton “Todd” Ault, III, Executive Chairman of Ault Alliance, remarked, “Incorporating Eco Pack into our portfolio is a strategic move given our belief that Eco Pack’s cutting-edge solutions address the pressing need for greener consumer goods production. Our principal goal is to rapidly promote its growth across the U.S., the UK, Europe and Asia.”

The closing of the Agreement remains subject to the parties thereto meeting customary closing conditions and obtaining regulatory approval.

This press release is for informational purposes only and shall not constitute an offer to sell or exchange nor the solicitation of an offer to buy shares of the Company’s common stock or any other securities of the Company.

For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov.

About Ault Alliance, Inc.

Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including a metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through its licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com.

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Ault Alliance Investor Contact:

IR@Ault.com or 1-888-753-2235

Source: Ault Alliance, Inc.