TurnOnGreen President, Marcus Charuvastra, Invited to Capitol Hill to Speak on Panel for the American Car Rental Association

Rhea-AI Summary

Imperalis Holding Corp. (OTC: IMHC) will be renamed TurnOnGreen, Inc., specializing in electric vehicle charging solutions. President Marcus Charuvastra will participate in a Federal Electric Vehicle Policy Panel at the U.S. Capitol on September 20, 2022, discussing Biden-Harris administration policies for EV infrastructure in the car rental sector. The Inflation Reduction Act supports this transition by offering clean vehicle credits, potentially growing the U.S. car rental market by 9.8% in 2022. The company aims to enhance access to federal funding for electric vehicle charging initiatives.

MILPITAS, Calif.--(BUSINESS WIRE)-- Imperalis Holding Corp. (OTC: IMHC), to be renamed TurnOnGreen, Inc., an electric vehicle charging and custom power solutions company (the “Company”), announced today that its President, Marcus Charuvastra, will be speaking on a Federal Electric Vehicle Policy Panel at the U.S. Capitol on Tuesday, September 20, 2022, hosted by the American Car Rental Association (“ACRA”). Mr. Charuvastra will be joined on the panel by the President of ACRA, along with representatives from Senator Cortez Masto’s office, the Electrification Coalition, and Hitachi. The panel discussions will center on the Biden-Harris administration’s economic and climate policies to support electric vehicle infrastructure growth in the car rental industry.

The ACRA’s mission is to drive growth and innovation in mobility and e-mobility services on behalf of its members, monitoring legal, public policy, and legislative issues affecting their members on the state and federal levels. The Inflation Reduction Act of 2022 provides a framework for the car rental industry to pivot into e-mobility by offering a variety of clean vehicle credits that operators and their customers can access when buying new or used electric vehicles. One example is the Alternative Fuel Vehicle Refueling Property Credit, which provides a tax credit of up to 30% of the total cost of an electric vehicle charging station installed after December 31, 2022, up to $100,000 per station, subject to certain geographic and prevailing wage and apprenticeship requirements.

“The car rental industry is well positioned to be a leader in electrification to facilitate the transition to more sustainable mobility solutions,” said the Company’s President, Marcus Charuvastra. “I am honored to be part of a panel of e-mobility experts. I look forward to helping ACRA members learn more about electric vehicle infrastructure and how to access the billions of dollars of Federal, State, and Municipal funds available to help build scalable electric vehicle charging solutions and adopt e-mobility more accessible.”

The panel discussion comes at a time of growth in the U.S. car rental market. The industry is experiencing 9.8% growth in 2022, up from the preceding four years, which saw a 2.8% growth rate, with business customers accounting for more than 25% of revenue.

For more information on the Company. please visit www.TurnOnGreen.com.

About Imperalis Holding Corp.

Imperalis Holding Corp., to be renamed 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. The Company brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. The Company’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.turnongreen.com.

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

Source: TurnOnGreen, Inc.

FAQ

What is the new name of Imperalis Holding Corp.?

Imperalis Holding Corp. will be renamed TurnOnGreen, Inc.

Who will speak on the Federal Electric Vehicle Policy Panel?

President Marcus Charuvastra will represent TurnOnGreen at the panel.

When is the Federal Electric Vehicle Policy Panel?

The panel will take place on September 20, 2022.

What topics will be discussed at the panel?

The panel will discuss economic and climate policies supporting EV infrastructure growth.

How does the Inflation Reduction Act benefit the car rental industry?

It offers clean vehicle credits to support the transition to electric mobility.

What growth is projected for the U.S. car rental market in 2022?

The U.S. car rental market is expected to grow by 9.8% in 2022.