Ault Global Holdings’ Subsidiary, TurnOnGreen, to Install Commercial EV Chargers at a Premier California Resort Destination

Rhea-AI Summary

Ault Global Holdings, Inc. (AMEX: DPW) announced a partnership between its subsidiary, TurnOnGreen, and The Alisal Guest Ranch and Resort in Solvang, California. The partnership aims to enhance the resort's electric vehicle charging capabilities, starting a multi-phase installation of EVP700G level 2 charging stations in December 2021. This initiative reflects California's leadership in EV infrastructure, as the state accounts for 44% of all EVs sold in the U.S. The company also disclosed plans for a corporate split, making TurnOnGreen a subsidiary of Ault Alliance.

Positive

• Partnership with The Alisal to improve EV charging infrastructure, enhancing guest experience.
• California's strong EV market, accounting for 44% of the U.S. total, supports growth potential for TurnOnGreen.

Negative

• Dependence on California's EV market could present risks if market conditions change.
• Corporate restructuring may create uncertainty regarding future business strategy.

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 partnered with The Alisal Guest Ranch and Resort (“The Alisal”), in Solvang, Calif., to expand the property’s electric vehicle charging capabilities for resort guests and visitors. TurnOnGreen will initiate a multi-phase electric vehicle (“EV”) charger installation plan in December of 2021, starting with the installation of EVP700G level 2 electric vehicle charging stations in the guest parking lot.

The Alisal has consistently ranked as one of the top resorts in the country. The property features 73 rooms, two private championship golf courses, a variety of equestrian activities, six tennis courts, a private lake, and miles of bike trails. Conveniently located between San Francisco and Los Angeles, The Alisal offers a five-star resort experience with an expanding charging infrastructure ideal for EV drivers seeking destination vacations.

“We are excited to be integrated into the Alisal resort and provide their guests and visitors access to simple EV charging solutions that will help promote zero-emission travel to the property,” said Marcus Charuvastra, Chief Revenue Officer for TurnOnGreen. “As we expand our commercial charging programs throughout North America, TurnOnGreen will continue to facilitate the rapid adoption of zero-emission vehicles, helping to create a brighter future for the planet.”

“California is leading the way when it comes to EV sales and infrastructure,” said Amos Kohn, CEO for TurnOnGreen. “With an increasing number of Californians driving EV’s, it’s crucial for businesses of all sizes to offer EV charging solutions for their patrons and employees.”

According to a comprehensive EV market research report by Veloz, in conjunction with the California Energy Commission, California accounts for 44% of all EV’s sold in the United States, with 991,494 Electric Vehicles registered as of November 1, 2021. California has mandated an aggressive zero-emission vehicle strategy, requiring all new passenger cars and trucks sold to be zero-emission vehicles by 2035.

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

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

 

Source: Ault Global Holdings, Inc.

FAQ

What is the partnership announced by Ault Global Holdings (DPW) in December 2021?

Ault Global Holdings announced a partnership with The Alisal Guest Ranch and Resort to expand EV charging at the resort, starting a multi-phase installation of charging stations.

How will the partnership with The Alisal benefit Ault Global Holdings (DPW)?

The partnership will enhance the guest experience by providing EV charging solutions, aligning with California's strong EV market.

What electric vehicle charging stations will be installed at The Alisal by Ault Global's subsidiary?

TurnOnGreen will install EVP700G level 2 electric vehicle charging stations at The Alisal.

What recent corporate changes are occurring at Ault Global Holdings (DPW)?

Ault Global announced plans to split into two public companies, with TurnOnGreen becoming a subsidiary of Ault Alliance.