Dalrada Corporation Appoints Phil Marriott to Board of Directors

Rhea-AI Summary

Dalrada Corporation (OTCQB: DFCO) announces the appointment of Phil Marriott to its Board of Directors, enhancing its leadership with his 50+ years of hospitality and real estate experience. Mr. Marriott's expertise will aid Dalrada's subsidiary, Dalrada Energy Services, in implementing Environmental, Sustainability, and Governance (ESG) solutions in the global hospitality industry. These initiatives focus on reducing fossil fuel reliance and achieving significant cost savings through innovative technologies like the Likido® heat pump.

Positive

• Appointment of Phil Marriott strengthens leadership with extensive industry experience.
• Potential to enhance Dalrada Energy Services' impact on ESG compliance in hospitality.
• Likido® heat pump technology offers 75% cost savings over traditional fossil fuel sources.

Negative

• Concerns regarding continuity and experience gaps in management due to new board member integration.

SAN DIEGO--(BUSINESS WIRE)-- Dalrada Corporation (OTCQB: DFCO, "Dalrada") would like to thank its investors and shareholders for their ongoing support as the Company announces the appointment of Phil Marriott to its Board of Directors. An accomplished businessman and noted professional partner, Mr. Marriott brings more than 50 years of hospitality and real estate industry experience to Dalrada; Marriott International has the world's largest loyalty program. Phil Marriott's influence within multiple industries enables Dalrada and its subsidiary, Dalrada Energy Services, to immediately positively impact the global hotel and hospitality industry through its Environmental, Sustainability, and Governance (ESG) compliance offerings.

Brian Bonar, Dalrada's Chairman, and CEO, states, "Adding Phil Marriott – a visionary, proven leader, and trusted advisor – to our Board of Directors strengthens Dalrada's position, especially with sustainable hospitality. Mr. Marriott's guidance aids Dalrada in addressing one of its key goals; enabling hotels worldwide to become ESG compliant. Dalrada Energy Services is actively guiding hotels to adopt clean energy efficiencies with significant cost savings, and I am extremely pleased to welcome Mr. Marriott to our organization."

Global net-zero initiatives reveal that burning fossil fuels undeniably increases the CO₂ concentration in the atmosphere and the oceans' surface. Research in the hospitality industry shows that electricity is the most significant utility expense, followed by water/service, utility cost, and gas/fuel.

To reduce reliance on fossil fuels, Dalrada deploys a unique methodology through Dalrada Energy Services (DES) that includes Dalrada's proprietary Likido® heat pump technology. Likido®ONE heat pumps are powered by sustainable and renewable energy sources, boosting energy efficiencies by nine times more than traditional water heating methods with an estimated cost savings of 75% over fossil fuel sources.

In addition, DES' end-to-end ESG compliance solutions upgrade existing properties or design new properties without capital outlay, leverage tax credits, significantly increase property values, and create new revenue streams, including carbon credits. Results produced by DES enable property owners to achieve substantial cost savings and actualize new growth opportunities while "going green" through the adoption of ESG compliance.

Tom Giles, Dalrada Energy Services' President, states, "Mr. Marriott's background in responsible sustainability in hotels and real estate will help guide Dalrada as it expands into several markets, including clean energy. Phil Marriott's influence accelerates DES' reach into thousands of hospitality properties, providing extreme value to property owners as each ‘goes green’ by implementing ESG solutions."

Mr. Marriott's namesake company has built long-lasting partnerships that enhance growth and expansion; these relationships include many hotel owners, private and public funds/REITs, and capital partners across many asset classes, including major real estate companies like Colliers International in Salt Lake City.

Currently, the Phil Marriott Company builds teams of experienced real estate experts, property owners, capital sources, and hospitality industry leaders who can privately manage acquisitions and dispositions and provide creative capital solutions worldwide. These solutions impact land development, data centers, self-storage, adult living centers, multi-family properties, and more.

Mr. Marriott graduated from Brigham Young University with a degree in accounting. He is community-driven, with support given to Rotary International as a member. He serves on multiple boards, including Intermountain Hospital Foundation Board - Utah Valley Hospital and United Families International. Mr. Marriott has also served on boards of the following organizations:

• Brigham Young University Alumni Board
• University of Utah Marriott Library
• Utah Valley University (UVU) Foundation Board (UVSC)
• Provo City School Foundation Board

Dalrada continuously creates innovative, impactful solutions to address the complex challenges of today and the future. To learn more about Dalrada Corporation, please visit www.Dalrada.com.

About Dalrada (DFCO)

Dalrada drives innovation that positively impacts people, businesses, and the planet. With subsidiaries that are firmly positioned in the world’s top three-growing industries of healthcare, clean energy, and technology, Dalrada creates solutions that are sustainable, affordable, and accessible.

The company works continually to produce disruptive products and services that accelerate positive change for current and future generations. Dalrada’s global solutions directly address climate change, post-pandemic gaps in the healthcare industry, and technology solutions for a new era of human behavior and interaction, ensuring a bright future for the world around us.

Established in 1982, Dalrada has since grown its footprint to include the unique business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. For more information, please visit www.dalrada.com.

Disclaimer

Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220419005705/en/

Denise Mahaffey

858.283.1253

inquiries@dalrada.com

Source: Dalrada Corporation

FAQ

Who is Phil Marriott and what is his role in Dalrada Corporation?

Phil Marriott has been appointed to the Board of Directors of Dalrada Corporation, bringing over 50 years of experience in hospitality and real estate.

What impact will Phil Marriott have on Dalrada Corporation?

His appointment is expected to strengthen Dalrada's efforts in implementing ESG solutions in the hospitality industry, particularly through Dalrada Energy Services.

What is the significance of Dalrada's Likido® heat pump technology?

The Likido® heat pump technology can increase energy efficiency by nine times and lead to 75% cost savings compared to traditional fossil fuel methods.

How does Dalrada Corporation plan to address sustainability in hospitality?

Dalrada aims to guide hotels in adopting ESG compliance through energy-efficient solutions, helping them reduce costs and enhance property value.