Ault Alliance Announces Licensing of MLSE Platform by its Subsidiary, MTIX Ltd.
November 06 2023 - 6:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”),
announced today that MTIX Ltd. (“MTIX”), a wholly owned
subsidiary of the Company’s majority owned subsidiary, Avalanche
International Corp., has entered into a license agreement for its
patented Multiplexed Laser Surface Enhancement (“MLSE”)
technology.
The MLSE technology employs several different process algorithms
for digital scouring and post-dye cleaning to help reduce and
eliminate water from processes that are historically water
intensive.
The textile industry is the world’s second largest commercial
source of pollution, surpassed only by the oil industry. Currently,
the textile industry uses approximately 1.3 trillion gallons of
water annually to dye fabrics. This water, which is loaded with
harmful chemicals and dyes, can flow virtually untreated into
rivers and streams around the world.
Installation of MTIX’s technical textile treatment system, which
utilizes a proprietary, patented MLSE processing technology, is
expected to be completed by year end. Currently, the system is
scheduled to undergo final testing, configuration, and training,
prior to becoming fully operational during Q1 2024.
Phil Mansour, CEO of MTIX stated, “We are excited for MTIX as it
continues its path towards commercialization of the MLSE
technology. This is a large step in the right direction for MTIX
and we will continue to focus on the fine tuning of the MLSE
technology and creating awareness around its wide array of
applications throughout the textile industry.”
“Our support for MTIX remains steadfast and we will continue to
assist MTIX management wherever practicable. We are optimistic
about the advancements and future developments of the MLSE
technology,” stated William Horne, CEO of Ault Alliance.
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
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
and 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.
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
1-888-753-2235
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