DPW Holdings Announces That Its Coolisys Power Electronics Business Has Received a $1,283,000 Purchase Order from a Defense C...
April 01 2020 - 5:30AM
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“
DPW,” or the
“
Company”), announced that its global power
electronics business, Coolisys Technologies Corp.
(“
Coolisys”), through its subsidiary Digital Power
Corporation (“
DPC”), has received an initial order
of $1,283,000 to provide comprehensive electrical and electronic
systems for powering an onboard radio and other classified
instruments installed and operated in customized military
multi-mission vehicles. The customer has the option to increase the
order amount to approximately $2,000,000. These vehicles are
designed to serve elite and special forces units operating in urban
warfare and close quarters combat. They are designed to be
airmobile, capable off-road vehicles that can handle extreme
terrain in a general reconnaissance role.
The solution provided by Coolisys will include
an electrical system featuring electronic hardware and an imbedded
management software that is approved and qualified by a Foreign
Military Teleprocessing Branch, after extensive testing. A defense
contractor specializing in customized off-road vehicles will be
implementing Coolisys’ solution in the multi-mission vehicles.
Coolisys offers a variety of power electronic
products including ruggedized, modified and off-the-shelf, or
complete custom designs, from its in-house design team. Coolisys’
products are designed to serve mission critical applications in the
harshest environments and for life-saving and life-sustaining
applications across diverse markets.
Coolisys’ CEO, Amos Kohn said, “The recent order
is the result of a long-term relationship, the company’s strong
reputation for delivering custom high-reliability power solutions
for the global defense industry and DPC’s expansion into this
military business sector.”
For more information on DPW Holdings and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
and press releases available under the Investor Relations section
at www.DPWHoldings.com or available at www.sec.gov.
About DPW Holdings, Inc.
DPW 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, the
Company provides mission-critical products that support a diverse
range of industries, including defense/aerospace, industrial,
telecommunications, medical, crypto-mining, and textiles. In
addition, the Company owns a select portfolio of commercial
hospitality properties and extends credit to select entrepreneurial
businesses through a licensed lending subsidiary. DPW’s
headquarters are located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663; www.DPWHoldings.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.DPWHoldings.com.
Contacts:
IR@DPWHoldings.com or 1-888-753-2235
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