Ault Global Holdings’ Subsidiary, TurnOnGreen Inc., Announces Launch of Its Commercial EV Charging Platform and Marketing Campaign

Rhea-AI Summary

Ault Global Holdings, Inc. (NYSE American: DPW) announces the launch of its power electronics business, TurnOnGreen Inc., with the scheduled installation of commercial EV charging stations in southern and central California set for late September 2021. The TOGI commercial EV charging platform includes various models designed for the expected surge in electric vehicles. A market report projects the EV charging station market to grow to $142.5 billion by 2028, with a CAGR of 37.5%. The company aims to drive EV adoption and enhance business opportunities.

Positive

• Scheduled installations of EV charging stations in California, indicating strong business deals.
• Introduction of an innovative commercial EV charging product line with advanced technology.
• Growing EV charging market expected to reach $142.5 billion by 2028, creating potential revenue opportunities.

Negative

• None.

First Installations of TurnOnGreen’s EV Smart Charging Stations Scheduled to Begin Late September 2021 at Southern and Central California Locations

LAS VEGAS--(BUSINESS WIRE)-- Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that its power electronics business, TurnOnGreen Inc. (“TurnOnGreen” or “TOGI”), formerly known as Coolisys Technologies Corp., has successfully launched the TOGI commercial EV charging product line and marketing campaign with installations in southern and central California locations set for late September 2021 and into October 2021. TurnOnGreen Technologies (“TOGT”), a subsidiary of TOGI, is a manufacturer of the EV charging and power storage systems. TOGT’s commercial EV charging platform features four models:

• EVP700-G, a Level 2 smart charging system with 4G cellular network technology;
• EVP700- F, a Level 2 smart charging system with Wi-Fi wireless network technology;
• FSP600, a 60kW DC fast charging system supporting both CCS and CHAdeMO charging protocols; and
• FSP1200, a 120KW DC Level 3 fast charging system supporting both CCS and CHAdeMO charging protocols.

TOGI reports that the scheduled installations are a result of receiving executed agreements that will be fully consummated upon the successful delivery and installation of the systems.

“The TurnOnGreen commercial EV charging platform is intelligent, flexible, customizable, and scalable to account for the millions of electric vehicles expected to come to market over the next five years that will require charging solutions,” said Amos Kohn, President and CEO of TurnOnGreen. “Our commercial sales platform is designed to facilitate the rapid adoption of EV’s in North America and provide business owners with new opportunities to engage customers, increase revenues and improve their local community.”

According to a comprehensive research report by Market Research Future entitled “Electric Vehicle Charging Station Market Research Report, System, Vehicle Type and Region - Forecast till 2028,” the EV charging station market size is projected to be worth $142.5 billion by 2028, registering a CAGR of 37.5% during the forecast period (2021 - 2028). The market was valued at $15.4 billion in 2020.

For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.

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 and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.

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 Holding’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

About TurnOnGreen Inc.

TurnOnGreen Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen headquarters are located at Milpitas, CA; www.TurnOnGreen.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.AultGlobal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210913005294/en/

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

 

Source: Ault Global Holdings, Inc.

FAQ

What is the main announcement from Ault Global Holdings regarding DPW in September 2021?

Ault Global Holdings announced the launch of TurnOnGreen's EV charging product line, with installations beginning in late September 2021.

When will the installations of EV charging stations by Ault Global Holdings take place?

The installations are scheduled to begin in late September 2021 and continue into October 2021.

What is the projected market size for EV charging stations by 2028?

The EV charging station market is projected to be worth $142.5 billion by 2028.

What types of EV charging systems are being launched by TurnOnGreen?

TurnOnGreen's product line includes Level 2 and DC fast charging systems, featuring models like EVP700-G, EVP700-F, FSP600, and FSP1200.

Who is the CEO of TurnOnGreen?

The CEO of TurnOnGreen is Amos Kohn.