TurnOnGreen Expands EV Charging Footprint with New AVIS Car Rental Locations in Alaska

Rhea-AI Summary

Imperalis Holding Corp. (OTC: IMHC), soon to be renamed TurnOnGreen, Inc., has expanded its EV charging network by adding two AVIS Car Rental locations in Alaska. The activation of EVP1100 Level 2 chargers in Anchorage and Juneau reflects the growing demand for electric vehicles (EVs). The partnership aims to support fleet operators transitioning to electric options. The Alaska Energy Authority is set to receive approximately $52 million over five years to enhance the state's EV infrastructure.

Positive

• Expansion of EV charging network with AVIS Car Rental in Alaska.
• Deployment of EVP1100 Level 2 chargers in key Alaskan cities.
• Significant government funding of $52 million over five years for EV infrastructure.

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• None.

MILPITAS, Calif.--(BUSINESS WIRE)-- Imperalis Holding Corp. (OTC: IMHC), to be renamed TurnOnGreen, Inc. (“TurnOnGreen” or the “Company”), announced today the expansion of the Company’s electric vehicle (EV) charging network through the addition of two AVIS Car Rental locations in Alaska. The Company has deployed and activated multiple high-power networked EVP1100 Level 2 EV chargers at the AVIS licensee’s Anchorage and Juneau locations.

AVIS Alaska has operated locations in Alaska for 65 years, making it the State’s most experienced car rental company. As an AVIS system licensee, the AVIS Alaska operates 12 locations throughout Alaska and maintains one of the largest vehicle fleets in the State.

“We are proud to work with such a well-established, professional, and environmentally conscience organization,” said TurnOnGreen President Marcus Charuvastra. “As the demand for EVs grows, TurnOnGreen is poised to provide fleet operators with access to affordable, durable, and dependable EV charging hardware and network services.”

TurnOnGreen offers scalable EV charging solutions for all types of commercial fleets. The Company’s ultra-fast charging station products, charging management software, and network services allow fleet operators to charge multiple vehicles rapidly and track energy use by the vehicle. TurnOnGreen charging systems maintain high standards in the market, are Energy Star Certified, and are backed by an internationally recognized certificate of safety and performance.

“Working with AVIS Alaska to provide affordable EV charging solutions will help ease their transition to an electric fleet in the future,” said Amos Kohn, the Company’s Chief Executive Officer. “The EV revolution is well underway, and our mission is to support widespread EV adoption and utilization.”

As part of the Infrastructure Investment and Jobs Act, Alaska Energy Authority (“AEA”) will receive $7.8 million in federal fiscal year 2022 and $11.1 million in federal fiscal year 2023 from the United States Department of Transportation Federal Highway Administration under the National Electric Vehicle Infrastructure Formula Program. AEA anticipates receiving approximately $52 million over the next five years through this program to build a network of DC fast chargers throughout Alaska.

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

About Imperalis Holding Corp.

TurnOnGreen 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. The Company brings decades of experience to every project, working with its clients to develop leading-edge products to meet a wide range of needs. The Company’s headquarters are located in 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.TurnOnGreen.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005185/en/

TurnOnGreen Investor Contact:

IR@TurnOnGreen.com or (877) 634-0982

Source: TurnOnGreen

FAQ

What is Imperalis Holding Corp's stock symbol?

The stock symbol for Imperalis Holding Corp is IMHC.

When will Imperalis Holding Corp be renamed TurnOnGreen, Inc.?

The renaming of Imperalis Holding Corp to TurnOnGreen, Inc. is forthcoming but does not have a specified date in the press release.

What locations are receiving EV chargers from TurnOnGreen?

TurnOnGreen is installing EV chargers at AVIS Car Rental locations in Anchorage and Juneau, Alaska.

How much funding will the Alaska Energy Authority receive for EV infrastructure?

The Alaska Energy Authority will receive approximately $52 million over the next five years for EV infrastructure development.

What type of EV chargers is TurnOnGreen deploying?

TurnOnGreen is deploying EVP1100 Level 2 EV chargers.