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DPW Holdings, Inc. (NYSE American: DPW) announced the acquisition of a 617,000 square foot mixed-use commercial facility in southern Michigan for $3.9 million. This purchase represents substantial value, as the estimated replacement cost is around $95 million. Revenue is expected to come from existing operations and from a new Enterprise Cloud Data Center, starting in June 2021. The facility will have a capacity of up to 300MWs and is projected to generate annual revenues of $54 million to $64 million at 50% capacity. The transaction is pending shareholder approval, with closure anticipated by January 29, 2021.
DPW Holdings announced that its subsidiary, Coolisys Technologies, has agreed to install ACECool EV chargers at three Tim Hortons locations in Canada. This initiative aims to launch a revenue-sharing model with franchise owners, anticipating growth in the EV market. Construction and installation are expected to commence in Q1 2021. Despite the optimism expressed by CEO Amos Kohn, the success of this pilot program remains uncertain. Coolisys is also in discussions with other franchises to expand their network.
DPW Holdings, Inc. (NYSE American: DPW) announced the formation of a new subsidiary, Alliance Cloud Services, LLC, through Ault Alliance, Inc. This strategic move aims to capitalize on the growing Hyperscale and Cloud Data Center markets projected to exceed $108 billion by 2025, driven by digitalization and data regulation. Recent research indicates significant expansion in the sector, with 115 new hyperscale facilities expected and a 302% growth in server revenue in the U.S. by 2029. CEO Darren Magot emphasized the commitment to develop key partnerships to enhance revenue growth.
DPW Holdings has announced a $1.4 million order for its subsidiary Coolisys Technologies, a provider of custom power solutions for medical devices. This order comes from an existing global customer, reflecting Coolisys's established reputation in the industry. The company specializes in high-grade power supplies and complies with rigorous safety standards. CEO Amos Kohn noted increased demand for next-generation products, particularly in the healthcare sector.
DPW Holdings announced a promising new therapeutic vaccine developed by Dr. Chuanhai Cao, targeting oligomeric Amyloid-β to potentially halt Alzheimer’s disease progression. The study, published in the Journal of Alzheimer’s Disease, demonstrated that the vaccine led to improved memory retention in genetically engineered mice. Unlike previous attempts, the E22W42 vaccine showed minimal inflammatory response, indicating a safer profile. With plans to enter human trials in 2021, this represents a significant advance in Alzheimer’s treatment, which affects over 5.8 million Americans at an annual cost exceeding $305 billion.
DPW Holdings, Inc. has converted nearly $5 million of secured debt to equity, enhancing its financial position and net equity. This change aims to attract traditional bank financing to address production backlogs and meet new orders from subsidiaries like Gresham Worldwide and Coolisys Technologies. CEO Milton Ault stated that this move supports the company's goal to reach $100 million in gross annual revenue within five years, despite challenges from Covid-19. The absence of liens should lead to better financing terms, promoting future growth and shareholder value.
DPW Holdings, Inc. (NYSE American: DPW) announced that its subsidiary, Enertec Systems 2001, Ltd., has entered into a development agreement with Align Technology, Inc. (NASDAQ: ALGN) to create advanced medical testing facilities. The collaboration involves an experienced engineering team from Enertec studying Align’s product requirements and subsequently providing tailored testing systems. Jonathan Read, CEO of Gresham, expressed optimism about significant growth opportunities for Enertec in the medical sector, highlighting ongoing demand for Gresham's technology solutions.
DPW Holdings announced that its power electronics subsidiary, Coolisys Technologies, will commence preorders for a level 2 residential EV wall mount charger starting November 15, 2020, priced at $499. The charger, compatible with the J1772 standard and Tesla vehicles via an adapter, will be available on Amazon beginning January 1, 2021, at $599. Coolisys’ CEO, Amos Kohn, expressed optimism about the product's potential in the growing EV market, highlighting its efficiency and reliability.
DPW Holdings, Inc. (NYSE American: DPW) announced on October 8, 2020, that the NYSE granted them a listing extension until January 24, 2022. This decision was based on the Company's plan to regain compliance with NYSE Listing Standards, specifically aimed at achieving over $6.0 million in stockholders' equity. During this extension period, the Company will undergo periodic reviews by NYSE. Failure to comply with the listing standards by the deadline may lead to delisting from the exchange.
DPW Holdings announced the launch of a new Energy Storage System (ESS) through its subsidiary Coolisys Technologies Corp., targeting homes and small businesses. The ESS integrates a hybrid inverter capable of supporting up to 7kW, and offers energy storage options of 12kWh or 24kWh using lithium ferrite phosphate batteries. It is designed for various applications including off-grid living and power backup. The product aims to enhance the reliability of renewable energy sources, aligning with the demand for solar PV systems.
