BitNile Holdings’ Subsidiary, TurnOnGreen, Announces New High-Density Power Supply Switcher Product Line

Rhea-AI Summary

BitNile Holdings (NILE) announced the completion of safety testing and certifications for its new High Density (HD) power supply/switcher product line through its subsidiary, TurnOnGreen, Inc.. The HD product series targets medical, telecommunications, and defense industries, promising superior efficiency and performance. Capable of operating in harsh conditions, these switchers eliminate the need for multiple product versions, reducing costs and enhancing versatility. CEO Amos Kohn highlighted the potential for rapid market adoption of these critical power solutions.

Positive

• Completion of safety certifications for new HD power supply/switcher line.
• Targeted applications in medical, telecommunications, and defense industries.
• Elimination of multiple product versions reduces production costs.
• High operational efficiency and performance compared to competitors.

Negative

• None.

Compact, Low-Profile Footprint and Best-in-Class Performance Power Switchers Designed for Use in Medical, Telecommunications, and Defense Systems

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (the “Company”), announced today that its green energy technology and global power electronics business, TurnOnGreen, Inc. (“TurnOnGreen”) through its wholly-owned subsidiary, Digital Power Corporation (“DPC”), has completed rigorous safety testing and received the safety certifications for its new industry-leading High Density (“HD”) AC/DC power supply/switcher product line.

TurnOnGreen has implemented large scale manufacturing for this new product series that has broad-reaching applications for medical, telecommunication, and defense industries. The new HD product series is suitable for redundant systems or high current applications and features built-in active power factor correction, universal input and a compact form-factor. TurnOnGreen believes the operating efficiency and power density are superior to competitor products. Additionally, this new HD product series is designed to withstand a wide temperature range and harsh operating conditions that make this new product series ideal for commercial off-the-shelf integration for the defense industry.

The Company noted an integral part of the design and development of the new HD product series was to strictly comply with both the IEC/UL 62368 series of standards for audio/visual and information technology equipment and the IEC/UL 60601 standard for the safety and effectiveness of medical electrical equipment and medical systems. The new HD product series can singularly serve the requirements of the medical and healthcare sectors, as well as the telecommunications and other sectors and with several benefits: elimination of the need to have multiple versions of the same product, reduction of overall production costs, and the increase in product line versatility and use. By incorporating safety requirements as a part of the design and development of our products, the Company reinforces its reputation for product integrity that customers continue to expect from TurnOnGreen and its subsidiary, DPC.

“These power products are well-positioned for rapid adoption within the medical, telecommunications, industrial, and defense industries,” said TurnOnGreen’s CEO, Amos Kohn. “The introduction of robust load sharing single-output power switchers continues our reputation for delivering high-reliability power solutions designed to serve in mission-critical and life-saving applications.”

About BitNile Holdings, Inc.

BitNile 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, BitNile 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, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.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.BitNile.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220310005414/en/

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

Source: BitNile Holdings, Inc.

FAQ

What is the significance of BitNile Holdings' new HD product series?

The new HD product series is significant as it offers safety-certified power solutions across multiple industries, enhancing operational efficiency and reducing production costs.

When was the announcement regarding TurnOnGreen's HD power supply made?

The announcement regarding TurnOnGreen's HD power supply was made on March 10, 2022.

Which industries can benefit from the new HD power supply/switcher products?

The new HD power supply/switcher products can benefit the medical, telecommunications, and defense industries.

What does the HD product line promise compared to competitors?

The HD product line promises superior operating efficiency and power density compared to competitor products.

How does the new HD product series impact production costs?

The new HD product series lowers overall production costs by eliminating the need for multiple versions of the same product.