Ault Global Holdings’ Coolisys Technologies Receives Authorization to Expedite Fulfillment of $1.3 Million Military Contract for Power Solutions in Tactical Vehicles

Rhea-AI Summary

Ault Global Holdings, Inc. (NYSE American: DPW) announced that its subsidiary, Coolisys Technologies Corp., has expedited a $1.3 million purchase order from a defense contractor. This order, originally scheduled for a three-year timeline, is now set to be completed within the current year. The project involves providing electrical systems for military multi-mission tactical vehicles designed for special forces. Coolisys aims to deliver its rugged, high-reliability power systems approved for military applications.

Positive

• Expedited $1.3 million order for military applications enhances revenue outlook.
• Strong demand for Coolisys’ power systems for tactical vehicles.
• Approval from a Foreign Military Teleprocessing Branch increases credibility.

Negative

• None.

Ault Global Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company”), announced that its subsidiary, Coolisys Technologies Corp. (“Coolisys”), has through its subsidiary Digital Power Corporation (“DPC”) received authorization to expedite a purchase order for $1.3 million to provide comprehensive electrical and electronic systems to power radio and other classified instruments installed and operated in customized military multi-mission tactical vehicles. This customer purchase order from a defense contractor was originally to be fulfilled over a three-year period but has now been authorized to be completed this year. These vehicles are designed to serve special forces units operating in an urban warfare environment and close-quarters combat. They are designed to be airmobile, capable off-road vehicles that can handle extreme terrain in a general reconnaissance role.

The solution provided by Coolisys will include an electrical system featuring electronic hardware embedded with management software that is approved and qualified by a Foreign Military Teleprocessing Branch, after extensive testing. A defense contractor specializing in customized off-road vehicles will be implementing Coolisys’ solution in the multi-mission vehicles.

Coolisys offers a variety of power electronic products including rugged, modified, and off-the-shelf, or complete custom designs, from its in-house design team. Coolisys’ products are designed to serve mission-critical applications in the harshest environments and for lifesaving and life-sustaining applications across diverse markets.

Coolisys’ CEO, Amos Kohn, said, “We are pleased to expedite this contract from a leading global defense customer specializing in customized vehicles used by special forces units. This order is the result of the compact and cost-effective design of Coolisys’ customized rugged high-reliability power system that is currently being used in field operations.”

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

About Ault Global Holdings, Inc.

Ault Global Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

About Coolisys Technologies Corp.

Coolisys Technologies Corp. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical and life-sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include automotive, defense, aerospace, medical and healthcare, industrial, and telecommunications. Coolisys brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. Coolisys is headquartered in Milpitas, CA; www.Coolisys.com, info@coolisys.com or 1‑877-634-0982

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.AultGlobal.com.

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FAQ

What was the recent news about Ault Global Holdings (DPW)?

Ault Global Holdings announced an expedited $1.3 million purchase order for military systems through its subsidiary, Coolisys Technologies Corp.

How will the purchase order impact Ault Global Holdings (DPW)?

The expedited order is expected to enhance revenue prospects for Ault Global Holdings by accelerating project completion within the current year.

What does Coolisys Technologies do for Ault Global Holdings (DPW)?

Coolisys Technologies designs and manufactures power systems, specifically for mission-critical applications including military vehicles.