Ault Alliance Completes Purchase of Majority Interest in Eco Pack Technologies Limited

Rhea-AI Summary

Ault Alliance, Inc. (NYSE American: AULT) announced that its subsidiary, Eco Pack Technologies, Inc., has acquired an 80% stake in Eco Pack, a company focused on sustainable packaging solutions using Siemens Digital technology. Eco Pack aims to replace traditional co-packing methods with eco-friendly alternatives, offering enhanced design, material choice, and supply chain efficiency. The company's technology is already operational in the UK and plans to expand globally, potentially disrupting the co-packing industry.

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 closed upon the purchase of an 80% ownership stake in Eco Pack Technologies Limited (“Eco Pack”).

Eco Pack, a company seeking to be at the forefront of packaging transformation, offers eco-centric alternatives to the traditional co-packing industry. Catering to fast-moving consumer goods manufacturers, Eco Pack employs Siemens Digital technology to address modern-day packaging challenges. Using digital technology enabling data driven analysis and decision making, Eco Pack develops packaging that combines 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 intended 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 a variety of manufacturing settings. The Company believes that Eco Pack’s technology will create opportunities for businesses to adopt eco-friendly measures, which many customers may find attractive.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are excited by Eco Pack’s current outlook, with 12 machines already operating at client sites throughout the United Kingdom. We intend to support Eco Pack as they venture into the global market and seek to fill an unmet need within the global co-packing industry. We believe the co-packing industry is ripe for disruption and Eco Pack, with its eco-friendly yet effective solutions, provides customers with a new solution to not only save money, but to cut down their overall carbon footprint. As we have previously stated, our principal goal is to rapidly promote their growth across the U.S., the U.K., Europe and Asia.”

For more information on Eco Pack, the Company encourages interested parties to visit https://ecopacktechnologies.com/

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 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 a 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231110908690/en/

Ault Alliance Investor Contact:

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

Source: Ault Alliance, Inc.

FAQ

What company announced the acquisition of Eco Pack?

Ault Alliance, Inc. (NYSE American: AULT)

What is Eco Pack's focus?

Eco Pack is focused on sustainable packaging solutions using Siemens Digital technology.

Where is Eco Pack's technology currently operational?

Eco Pack's technology is already operational at client sites throughout the United Kingdom.

How can interested parties find more information about Eco Pack?

Interested parties can visit https://ecopacktechnologies.com/ for more information about Eco Pack.