Ault Alliance Completes Purchase of Majority Interest in Eco Pack Technologies Limited
November 10 2023 - 6:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”),
announced today that its wholly owned subsidiary, Eco Pack
Technologies, Inc., has closed upon the purchase of an 80%
ownership stake in Eco Pack Technologies Limited (“Eco
Pack”).
Eco Pack, a company seeking to be at the forefront of packaging
transformation, offers eco-centric alternatives to the traditional
co-packing industry. Catering to fast-moving consumer goods
manufacturers, Eco Pack employs Siemens Digital technology to
address modern-day packaging challenges. Using digital technology
enabling data driven analysis and decision making, Eco Pack
develops packaging that combines sustainability with reduced
environmental repercussions. Its innovative approach is intended to
enhance packaging design, material choice, and supply chain
efficiency, allowing firms to adopt eco-friendly options without
compromising on quality or performance. Notably, Eco Pack’s
solutions are intended to replace conventional cardboard boxes and
shrink-wraps prevalent in major retail chains. Engineered with a
modular framework, Eco Pack’s machinery is anticipated to be
versatile enough to suit a variety of manufacturing settings. The
Company believes that Eco Pack’s technology will create
opportunities for businesses to adopt eco-friendly measures, which
many customers may find attractive.
Milton “Todd” Ault, III, the Company’s Executive Chairman,
stated, “We are excited by Eco Pack’s current outlook, with 12
machines already operating at client sites throughout the United
Kingdom. We intend to support Eco Pack as they venture into the
global market and seek to fill an unmet need within the global
co-packing industry. We believe the co-packing industry is ripe for
disruption and Eco Pack, with its eco-friendly yet effective
solutions, provides customers with a new solution to not only save
money, but to cut down their overall carbon footprint. As we have
previously stated, our principal goal is to rapidly promote their
growth across the U.S., the U.K., Europe and Asia.”
For more information on Eco Pack, the Company encourages
interested parties to visit https://ecopacktechnologies.com/
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 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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