BitNile Holdings’ Subsidiary, TurnOnGreen, to Install Commercial EV Chargers in Exclusive Bel Air Shopping Center

Rhea-AI Summary

BitNile Holdings, Inc. (AMEX: NILE) announced a partnership with The Glen Centre in Los Angeles to enhance EV charging capabilities. This initiative will utilize TurnOnGreen's network level 2 chargers, aiming for completion by March 2022. The project targets the increasing demand for electric vehicle infrastructure, aligning with the U.S. Department of Energy's statistics that highlight a growing number of EVs on U.S. roads. The Glen Centre features 25 retail locations and aims to provide a sustainable solution for visitors.

Positive

• Partnership with The Glen Centre enhances EV charging capabilities.
• Utilization of TurnOnGreen's network level 2 chargers supports sustainability initiatives.

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• None.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (the “Company”), announced today that its green energy technology and power supply subsidiary, TurnOnGreen, Inc. (“TurnOnGreen”), has partnered with The Glen Centre, in Los Angeles, Calif. to expand the property’s electric vehicle charging capabilities for its thousands of annual visitors. The electrification project is expected to be complete by March 2022 and will feature TurnOnGreen’s commercial network level 2 charger, the EVP700G, installed in the main parking lot. Drivers will be able to locate the chargers using the TurnOnGreen mobile application and initiate a charging session with the app, QR code, or RFID card. The TurnOnGreen mobile application is available for download on the App Store for iPhone users and Google Play for Android users.

The Glen Centre, a premier Southern California shopping destination, has served the communities of Sherman Oaks, Beverly Hills, West Los Angeles, and Bel Air since 1978. The property features 25 retail locations, including six restaurants, a supermarket, and the world-famous Herb Albert’s Vibrato jazz club. Conveniently located between West Los Angeles and the San Fernando Valley, The Glen Centre offers a five-star shopping and dining experience with an EV charging infrastructure ideal for drivers seeking an opportunity to charge.

“We are excited to partner with the Glen Centre in order to provide their guests access to EV charging solutions that will help promote zero-emission travel throughout this historic region of Los Angeles,” said Marcus Charuvastra, Chief Revenue Officer for TurnOnGreen. “As we expand our commercial charging programs throughout North America, TurnOnGreen will continue to provide businesses with the opportunity to monetize their parking spaces while meeting their sustainability goals.”

According to the United States Department of Energy Alternative Fuels Data Center, there are 46,000 public charging stations in the U.S. and 1.8 million EVs on the road. The Edison Electric Institute estimates that there will be 22 million EV’s on U.S. roads by 2030 and will make up more than 27% of annual U.S. light-duty vehicle sales.

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

For more information on BitNile Holdings and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.

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.

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

Source: BitNile Holdings, Inc.

FAQ

What is the partnership between BitNile Holdings and The Glen Centre?

BitNile Holdings has partnered with The Glen Centre to expand electric vehicle charging capabilities through TurnOnGreen's commercial chargers.

When is the EV charging project at The Glen Centre expected to be completed?

The EV charging project at The Glen Centre is expected to be completed by March 2022.

What technology will be used for the EV charging stations?

The EV charging stations will utilize TurnOnGreen's network level 2 chargers.

How does this project align with EV trends in the U.S.?

This project supports the growing demand for EV infrastructure, coinciding with estimates that there will be 22 million EVs on U.S. roads by 2030.

What is the stock symbol for BitNile Holdings?

The stock symbol for BitNile Holdings is NILE.