TurnOnGreen Awarded Electric Vehicle Charging Contract for the Livermore Valley Joint Unified School District in Livermore, California

Rhea-AI Summary

TurnOnGreen (OTC:TOGI) has secured a contract with the Livermore Valley Joint Unified School District (LVJUSD) in California for EV charging stations installation and management. The company completed the first installation at Marylin Ave Elementary School in August 2024, featuring multiple EVP1100 Level 2 EV chargers accessible via smartphone app, RFID card, or QR code. TurnOnGreen will retain a percentage of recurring charging revenues throughout the contract period. The company plans to expand to three additional district locations and will work with LVJUSD to secure funding for these installations.

Positive

• Secured new contract for EV charging infrastructure with LVJUSD
• Successfully completed first installation at Marylin Ave Elementary School
• Will generate recurring revenue from charging fees
• Potential expansion to three additional district locations

Negative

• Funding for additional locations not yet secured
• Revenue share percentage not disclosed

MILPITAS, Calif.--(BUSINESS WIRE)-- TurnOnGreen, Inc. (OTC:TOGI) (“TurnOnGreen” or the “Company”), today announced that the Company has been awarded the contract for installation, operation, maintenance, and management of electric vehicle (“EV”) charging stations by the Livermore Valley Joint Unified School District (“LVJUSD”) in Livermore, California. Under the terms of the contract, TurnOnGreen will be responsible for the installation, operation, maintenance, and management of EV chargers at select LVJUSD campuses. The Company completed installation in July 2024 and activation in August 2024. In exchange for these responsibilities, TurnOnGreen will retain a percentage of recurring charging revenues for the duration of the contract and any extensions.

TurnOnGreen EV Charging Station Model EVP1100 Marylin Ave Elementary School, Livermore, CA ©All rights reserved @2023-2024 TurnOnGreen, Inc.

The Company completed the first LVJUSD campus installation at Marylin Ave Elementary School in August 2024. The project features multiple high-power, networked EVP1100 Level 2 EV chargers that school district employees and the local community can activate using a smart phone app, RFID card, or scanning a unique QR code displayed on each EV charger. The Company collects fees for all paid sessions on the platform.

Upon successful installation and activation of the initial location, the Company will work with LVJUSD to secure funding for the installation and operation of EV charging infrastructure at three additional locations in the district.

“We are thrilled to work with the LVJUSD to provide their educators and local community with access to affordable and dependable EV charging services,” said TurnOnGreen President Marcus Charuvastra. “Providing EV charging infrastructure to the LVJUSD supports the adoption of electric mobility and will help the district transition to an electric future.”

Amos Kohn, the Company’s Chairman and Chief Executive Officer, added, “Working with public school districts is a key component of our growth, and will help support our recurring revenue verticals. We are steadfast in our quest to be the leader in workplace EV charging and sustainable energy infrastructure solutions for school districts of all sizes.”

TurnOnGreen offers scalable EV charging solutions to homes, businesses, and fleets across North America. The Company’s EV charging hardware, management software, and network services allow municipalities, businesses, and homeowners to monetize, track and report EV charger usage. 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.

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

About TurnOnGreen

TurnOnGreen, Inc. (OTC: TOGI) designs and manufactures innovative, feature-rich, 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 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 the Company’s website at www.TurnOnGreen.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241118566031/en/

TurnOnGreen Investor Contact:

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

Source: TurnOnGreen, Inc.

FAQ

When did TurnOnGreen (TOGI) complete the first EV charging station installation at LVJUSD?

TurnOnGreen completed the installation in July 2024 and activated the charging stations in August 2024 at Marylin Ave Elementary School.

How many additional LVJUSD locations will TurnOnGreen (TOGI) install EV chargers?

TurnOnGreen plans to install EV charging infrastructure at three additional locations in the district, pending funding.

What payment methods are available for TurnOnGreen's (TOGI) EV chargers at LVJUSD?

Users can activate the chargers using a smartphone app, RFID card, or by scanning a unique QR code displayed on each EV charger.