BitNile Holdings’ Subsidiary, TurnOnGreen, to Supply Rental Car Operator, Aero Corporation, with DC Fast Chargers for Harrisburg International Airport Charging Hub

Rhea-AI Summary

BitNile Holdings, Inc. (AMEX: NILE) announced that its power supply subsidiary, TurnOnGreen, will supply electric vehicle (EV) charging equipment and network services to Aero Corporation for a six-port DC Fast charging depot near Harrisburg International Airport. The project includes three FSP1200 dual port 120kW DC Fast Chargers capable of rapidly charging most EVs, aimed at supporting rental car companies' EV fleets. TurnOnGreen expects installation to complete in Q3 2022, aligning with the growth strategy focused on the rental car industry and EV adoption in the U.S.

Positive

• TurnOnGreen will supply charging equipment, indicating business expansion.
• Partnership with Aero Corporation aligns with growth strategy in EV sector.
• Installation of charging infrastructure supports rental car industry adoption of EVs.

Negative

• 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”), will supply the electric vehicle charging equipment and network services to the Aero Corporation to build a six-port electric vehicle (“EV”) DC Fast charging depot next to the Harrisburg International Airport (“HIA”).

FSP1200 / 120 kW Network Functionality: Seamlessly manage Level 2 chargers and DCFC all in one place with the TurnOnGreen Management Dashboard. View and analyze real-time charging data Track costs and adjust pricing Manage power with advanced active load balancing Manage users and set permissions Automatic report generation, downloadable at any time 24/7 support available via SMS, in-app messaging, or toll-free number Visit www.TurnOnGreen.com for more information

TurnOnGreen will provide three FSP1200 dual port 120kW DC Fast Chargers that together feature six Combined Charging System connectors capable of rapidly charging most EVs on the road today. The DC Fast Charging depot will offer charging solutions to Aero Corporation (a licensed operator of twenty Avis Budget locations across Pennsylvania and New Jersey) and other local area rental car companies whose customers need to recharge their rental EVs prior to returning to or departing from HIA. The Company has been advised by Aero Corporation that it plans to complete installation of the DC Fast chargers in the third quarter of 2022.

The electrification project will feature TurnOnGreen’s commercial network DC Fast Charger, the FSP1200, installed minutes outside HIA on West Harrisburg Pike, Middletown, PA. Drivers can locate the chargers using the TurnOnGreen mobile application and initiate a charging session with the App, QR code, or via a credit card reader. The TurnOnGreen mobile application is available for download on the App Store for iPhone users and Google Play for Android users.

“Providing EV charging solutions for rental car fleets is a key component of our growth strategy and complements our hotel electrification program,” said Marcus Charuvastra, TurnOnGreen’s Chief Revenue Officer. “The car rental industry will be a primary driver of EV adoption in the United States. Working with rental car companies like Aero Corporation to expand their EV fleets is an important step in helping the general public learn more about the benefits of driving EVs.”

“We are committed to providing engineering and electrification solutions to the car rental industry,” said Amos Kohn, TurnOnGreen CEO and its chief engineer. “As the EV charging infrastructure in North America expands, it will be easier and more cost-effective for car rental companies to meet sustainability goals through EV rental programs.”

U.S. automakers have invested billions of dollars to increase EV production. General Motors plans to deliver 400,000 EVs in North America by the end of 2023, and Ford has committed to 600,000 new EVs by the end of 2023. The car rental market can be an important driver in President Biden’s announced target for half of all new cars and trucks sold in the U.S. in 2030 to be zero-emissions vehicles.

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 (NILE) and Aero Corporation?

BitNile's subsidiary TurnOnGreen will provide electric vehicle charging equipment and services to Aero Corporation for a new DC Fast charging depot near Harrisburg International Airport.

When will the EV charging depot by BitNile (NILE) be operational?

The installation of the DC Fast chargers is expected to be completed in the third quarter of 2022.

What type of chargers will BitNile (NILE) supply to Aero Corporation?

BitNile will supply three FSP1200 dual port 120kW DC Fast Chargers, featuring six Combined Charging System connectors.