LAS VEGAS–(BUSINESS WIRE)–$AGREE #60_years_power_solution_experience—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance” or the “Company”), announced today that its subsidiary, Imperalis Holding Corp. (OTC: IMHC), dba TurnOnGreen, Inc. (“TurnOnGreen”), had commenced the planning and design for a multi-family unit dwelling electric vehicle (“EV”) charging project in Santa Barbara, CA. TurnOnGreen will execute the project on behalf of a fully integrated real estate investment, development, and property management firm (the “Client”) with over 60 years of experience in the Santa Barbara, Ventura, and San Luis Obispo Counties.
The project aims to offer EV charging solutions to 168 multi-family units in Santa Barbara County by installing TurnOnGreen’s EVP700G level 2 EV charger. This charger incorporates a unique power-sharing technology, maximizing access to charging without the need for costly power upgrades. TurnOnGreen worked with the Client to secure funds from the Santa Barbara County Air Pollution Control District’s Clean Air Grant for Infrastructure to help fund the project. TurnOnGreen anticipates breaking ground in July 2023.
With over 6,000 residential units and commercial properties and totaling about 1.8 million square feet of commercial office, industrial, and retail space in Santa Barbara, Ventura, and San Luis Obispo counties, the Client currently manages approximately 2,800 residential units.
“TurnOnGreen is committed to assisting property owners access various utility, municipal, state, and federal grants to offset some of the costs associated with building EV charging infrastructure,” said Amos Kohn, TurnOnGreen’s Chief Executive Officer. “TurnOnGreen has the product, design, planning, and installation expertise to customize any project and enhance the value of any property with scalable EV charging solutions.”
“We are thrilled to have been selected by the Client to design and construct EV charging stations at one of their premier properties,” said TurnOnGreen President Marcus Charuvastra. “We are committed to expanding EV charging services in multi-family units and other commercial and residential dwellings across North America and look forward to providing the Towbes Group with the very best products and services that their residents can depend on 365 days a year.”
TurnOnGreen offers scalable EV charging solutions to homes, businesses, and fleets across North America. TurnOnGreen’s ultra-fast charging stations, charging management software, and network services allow property owners to provide a variety of EV charging services to tenants, guests, and the general public. 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.
According to the California Energy Commission and the California Air Resources Board, 42% of the Nation’s EVs have been sold in California, with annual EV sales in the State exceeding 345,000 units in 2022. According to the California Energy Commission, EVs represent 18% of the overall market share in CA.
For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.
Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance, expressed his enthusiasm, “We congratulate the management of TurnOnGreen with this latest client and are pleased with the progress TurnOnGreen is making in securing projects with clients in their targeted sectors that can be nurtured into long-term relationships with recurring revenues.”
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at https://www.ault.com/ or available at https://www.sec.gov/.
About Ault Alliance, Inc.
Ault Alliance, 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, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com.
About Imperalis Holding Corp.
TurnOnGreen 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 is committed to building public and private EV charging infrastructure throughout the United States, Canada and abroad. TurnOnGreen brings decades of experience to every project, working with its clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s 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 https://www.sec.gov/ and on the Company’s website at https://www.ault.com/.
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