Ault Alliance Announces Gresham Worldwide Receives $5.4 Million in Contract Orders
November 08 2023 - 6:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”), today
announced that Microphase Corporation (“Microphase”) a
subsidiary of Ault Alliance’s majority-owned subsidiary,
Giga-tronics, Inc. (OTCQB: GIGA), referred to as Gresham Worldwide,
(“Gresham Worldwide”), a provider of purpose-built electronic
technology solutions for defense and other mission critical
applications, has received orders for radio frequency (“RF”)
filters from a defense contractor with an aggregate value of $5.4
million. Microphase technology will be used as part of a platform
designed to counter improvised explosive devices to protect troops
in the U.S. military.
Based in Shelton, Connecticut, Microphase has for over 65 years
specialized in designing, engineering and manufacturing RF,
microwave and millimeter wave devices, components and subsystems
known for high performance and ultra-high reliability for mission
critical applications in the defense industry. Microphase serves
militaries and top tier defense contractors who support them with
platforms in the air, on land and at sea around the world.
Microphase anticipates initial deliveries to begin in the first
quarter of 2024 with the balance delivered throughout calendar year
2024. This production order builds on eight years of close
collaboration with this strategic customer to develop and refine
these RF components. Microphase expects to receive at least one
additional production order for the RF filters in late 2024.
Jonathan Read, CEO of Gresham Worldwide, stated, “These orders
provide further validation of Gresham Worldwide’s strategic focus
on delivering purpose-built solutions for mission critical
requirements that build enduring customer relationships. Wars in
the Middle East and Ukraine with tensions high in the South China
Sea and multiple low-intensity conflicts elsewhere will continue to
drive demand for Gresham Worldwide’s defense and force protection
offerings for the foreseeable future.”
Timothy Long, COO of Gresham Worldwide and CEO of Microphase,
added, “We are well-positioned with the workforce, equipment, and
facilities to satisfy these orders on schedule. This business
builds on our proven RF filter technology platform. We expect these
orders and others like them will have a positive impact on
Microphase’s revenue and profitability going forward.”
For more information on Ault Alliance 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.Ault.com or available at 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
offers colocation and hosting services for the emerging artificial
intelligence ecosystems and other industries, 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 Gresham Worldwide
Gresham Worldwide works through its operating companies in the
United States, the United Kingdom and Israel to deliver
purpose-built electronic technology solutions that save, protect,
and enhance life. Gresham Worldwide focuses on providing turnkey
electronic solutions for defense, test and training applications,
power electronics and displays, and RF, microwave and nmillimeter
wave systems and components. Gresham Worldwide primarily supports
the defense and aerospace industry as well as mission-critical
applications in medical technology, transportation,
telecommunications, and industrial market sectors.
www.greshamworldwide.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.Ault.com.
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Ault Alliance Investor Contact: IR@ault.com or
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