Ault Global Holdings’ Subsidiary, TurnOnGreen, Receives Safety Approval for Its EV700 Residential Electrical Vehicle Supply Equipment Product Line

Rhea-AI Summary

Ault Global Holdings, Inc. (NYSE American: DPW) announced the availability of its TurnOnGreen EV700 electric vehicle charger, now available for order through Amazon.com and Walmart. The EV700 has received safety certification under the UL 2594 standard, ensuring compliance for EV chargers in North America. This product features advanced technologies such as Bluetooth connectivity and an LCD touchscreen for user authentication. TurnOnGreen plans to expand its offerings while gearing towards a corporate split into two public companies.

Positive

• TurnOnGreen EV700 received UL 2594 safety certification, essential for North American EV chargers.
• The product features advanced technologies like Bluetooth and an LCD touchscreen, enhancing user experience.
• Immediate availability of the EV700 through major retailers like Amazon and Walmart could boost sales.

Negative

• Future revenue may be impacted by the company's split into two public entities, BitNile and Ault Alliance.

TurnOnGreen’s EV700 Product Available for Order and Immediate Fulfillment from Amazon.com, Walmart and TurnOnGreen

LAS VEGAS--(BUSINESS WIRE)-- Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that its green energy technology and power supply subsidiary, TurnOnGreen, Inc. (“TurnOnGreen”), has completed the rigorous safety testing for its TurnOnGreen™ EV700, a Level 2 240V/32A electrical vehicle supply equipment product line, obtaining safety certification in accordance with the UL 2594 standard, a mandatory requirement for electric vehicle (“EV”) chargers in North America.

TurnOnGreen’s EV700 product line features a stylish design and robust 3R ingress protection for indoor and outdoor all-weather installation. The EV700 can either be wall-mounted or pedestal-mounted, making the system flexible for different environments. The EV700 also features an LCD touchscreen and RFID card reader for user authentication. Bluetooth and Wi-Fi communications are available for easy-to-use operation, supporting the TOG EV700 smart-phone application for user-friendly charging management.

“Based on TurnOnGreen’s advanced power management core technologies, we have successfully developed the EV700 with smart technology features along with an innovative, industry-leading, highly-efficient, safe, and convenient EV charging solution that represents the latest state-of-the-art technology. The EV700 is durable with an easy-to-use design for residential and commercial deployment for fast EV charging,” stated Amos Kohn, Chief Executive Officer of TurnOnGreen. Mr. Kohn noted, “We are very pleased to announce that our EV700 charging systems have been tested and certified by a nationally recognized testing laboratory pursuant to safety standards established by the Occupational Safety and Health Administration.”

TurnOnGreen’s EV700 systems are available for order and immediate fulfillment from Amazon.com, Walmart and TurnOnGreen directly. Parties interested in purchasing a TurnOnGreen EV700 residential EV charging system should use one of the following links:

Amazon.com – TurnOnGreen EV700 Level 2 Smart Electric Vehicle Charger
Walmart – EV700 - Level 2 SMART Home Charger
TurnOnGreen – EV700 - Level 2 SMART Home Charger (turnongreenev.com)

On November 22, 2021, the Company announced its plan to split into two public companies, BitNile and Ault Alliance. Under the announced plan, TurnOnGreen will become a subsidiary of Ault Alliance.

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 owns and operates a data center at which it mines Bitcoin and 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 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’s 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/20211207005532/en/

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

Source: Ault Global Holdings, Inc.

FAQ

What is the TurnOnGreen EV700?

The TurnOnGreen EV700 is a Level 2 electric vehicle charger that has received safety certification in accordance with UL 2594 standards.

Where can I buy the TurnOnGreen EV700?

The TurnOnGreen EV700 is available for purchase on Amazon, Walmart, and directly from TurnOnGreen.

What safety certification does the TurnOnGreen EV700 have?

The TurnOnGreen EV700 has obtained UL 2594 safety certification, which is mandatory for electric vehicle chargers in North America.

What companies are involved in Ault Global Holdings' split?

Ault Global Holdings is planning a split into two public companies, BitNile and Ault Alliance, with TurnOnGreen becoming a subsidiary of Ault Alliance.

What is the stock symbol for Ault Global Holdings?

The stock symbol for Ault Global Holdings is DPW, listed on the NYSE American.