Delivery of First Laser-based Textile Finishing Machine of $50 Million Order Scheduled by DPW Holdings Subsidiary
March 01 2018 - 6:45AM
DPW Holdings, Inc. (NYSE American: DPW) ("
DPW" or
the "
Company"), a diversified holding company,
announced today that its subsidiary, Coolisys Technologies, Inc.
(“
Coolisys”), notified MTIX, Ltd.
(“
MTIX”), an advanced materials and processing
technology company located in the United Kingdom, of Coolisys’
intention to deliver the first machine pursuant to the $50 Million
purchase order to manufacture, install and service textile
treatment systems that utilize MTIX’s proprietary Multiplexed Laser
Surface Enhancement (“MLSE™”) system.
Numerous sub-supplier milestones have been met and cleared
acceptance allowing for final assembly of the first system.
The Company expects to deliver the initial unit by March 31,
2018.
“With completion of these supply and fabrication milestones,
lead times to deliver on this 3-year contract are reduced
considerably enabling delivery of the initial unit,” commented Amos
Kohn, Coolisys chief executive officer . “We’re pleased to
finally be nearing the first delivery and to continue production
ramp as planned.”
DPW has scheduled a webcast for March 15, 2018 at 5:00 p.m.
eastern time to update investors on its fulfillment of the purchase
order and on its investment in Avalanche International (OTC:AVLP)
the parent company of MTIX.
About DPW Holdings, Inc.
Headquartered in Fremont, CA, DPW Holdings, Inc.,
www.DPWHoldings.com, is a diversified holding company that, through
its wholly owned subsidiary, Coolisys Technologies, Inc., is
dedicated to providing world-class technology-based solutions where
innovation is the main driver for mission-critical applications and
lifesaving services. Coolisys’ growth strategy targets core markets
that are characterized by “high barriers to entry” and include
specialized products and services not likely to be commoditized.
Coolisys through its portfolio companies develops and manufactures
cutting-edge resonant switching power topologies, specialized
complex high-frequency radio frequency (RF) and microwave
detector-log video amplifiers, very high-frequency filters and
naval power conversion and distribution equipment. Coolisys
services the defense, aerospace, medical and industrial sectors and
manages four entities including Digital Power Corporation,
www.DigiPwr.com, a leading manufacturer based in Northern
California, 1-877-634-0982; Digital Power Limited dba Gresham Power
Ltd., www.GreshamPower.com, a manufacturer based in Salisbury, UK;
Microphase Corporation, www.MicroPhase.com with its headquarters in
Shelton, CT 1- 203-866-8000; and Power-Plus Technical Distributors,
www.Power-Plus.com, a wholesale distributor based in Sonora, CA
1-800-963-0066.
Digital Power Lending, LLC, www.DigitalPowerLending.com, a
wholly owned subsidiary of the Company, is based in Fremont, CA,
and is a California private lending company, operating under
California Finance Lenders License (CFL #60DBO-77905),
dedicated to strategically providing capital to small and middle
size businesses for an equity interest in addition to loan fees and
interest. Super Crypto Mining, Inc. www.SuperCryptoMining.com is a
wholly-owned subsidiary of the Company, is based in Fremont CA that
leverages its engineering expertise and existing locations to
create crypto currency mining facilities across the globe. Super
Crypto Mining operates the branded division, Super Crypto Power,
www.SuperCryptoPower.com. Excelo, LLC, www.Excelo.com, a
wholly-owned subsidiary of the Company, is a national search firm
specializing in fulfilling strategic executive, professional and
hi-tech placements for businesses delivering world-class services.
DPW Holdings, Inc.’s headquarters is located at 48430 Lakeview
Blvd., Fremont, California, 94538; 1-877-634-0982. For Investor
inquiries: IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking Statements
The foregoing 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, including statements regarding the
acquisition and the ability to consummate the
acquisition. 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.
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