Hyperscale Data’s TurnOnGreen Secures $3.9 Million in Defense Contracts, Expanding Global Reach
LAS VEGAS, NV – December 2, 2024 – Hyperscale Data, Inc. (GPUS), a diversified holding company, announced today that its indirect subsidiary, TurnOnGreen, Inc., has achieved a significant milestone by securing $3.9 million in new defense contracts. This substantial win underscores TurnOnGreen’s rapid growth and its ability to deliver cutting-edge power solutions for the global defense market.
Strategic Partnerships Fuel Growth
The contracts awarded to TurnOnGreen’s Digital Power Corporation (DPC) division encompass the production and integration of several key technologies: defense-grade power conversion modules, tactical power switching and charging systems, and proprietary power distribution solutions. These advanced systems are designed to enhance the operational capabilities of a wide range of military equipment, including off-road tactical vehicles, military ambulances, and critical communication and networking systems deployed in warfare scenarios.
Further solidifying its position in the defense sector, TurnOnGreen has secured a pivotal strategic contract with a leading Israeli defense original equipment manufacturer. This collaboration will see TurnOnGreen supplying and integrating advanced power systems for all-terrain armored fighting vehicles and first-response military ambulances. This collaboration highlights TurnOnGreen’s ability to meet the rigorous standards and demands of international defense organizations. The partnership also underscores the company’s commitment to international expansion and collaboration.
Beyond this key Israeli partnership, TurnOnGreen is also providing custom-designed, uninterruptible power solutions to a major aerospace and defense corporation. These solutions are essential for supporting transportable tactical command communication systems, which are utilized in military operations worldwide, highlighting the global reach and impact of TurnOnGreen’s technology.
Rigorous Testing and Validation
In a testament to the reliability and performance of TurnOnGreen’s power solutions, the company has collaborated with the Israel Defense Forces (IDF) to develop and deliver power systems specifically designed for the demands of modern battlefield environments. These systems have undergone thorough testing and validation by the IDF, successfully meeting their strict requirements and adhering to stringent international military standards.
Financial Implications and Future Outlook
Ault Capital Group, Inc. (ACG), a wholly-owned subsidiary of Hyperscale Data, holds a controlling interest in TurnOnGreen. Hyperscale Data recently declared a special dividend of Series F Exchangeable Preferred Stock, with a record date of December 13, 2024. This dividend further enhances shareholder value and reflects the company’s positive financial trajectory.
Executive Commentary
Amos Kohn, Chairman and CEO of TurnOnGreen, expressed his enthusiasm for these achievements: “Securing contracts with some of the world’s leading defense firms, coupled with the IDF’s qualification of DPC’s technology, underscores our expertise in designing and manufacturing advanced, high-grade power electronics. Our comprehensive solutions are meticulously engineered to power a wide range of warfare devices and tactical vehicles, ensuring reliable performance in mission-critical and demanding battlefield environments.” He continued, highlighting TurnOnGreen’s broader growth trajectory across various sectors, solidifying their position as a trusted partner for customers who require innovative and reliable power solutions.
Marcus Charuvastra, President of TurnOnGreen, added, “TurnOnGreen remains dedicated to driving long-term value through strategic high-growth verticals such as electric vehicle charging and advanced electronics for defense and telecom sectors. These high-margin opportunities are essential to our mission of delivering sustained financial growth and maximizing returns for our shareholders.”
About Hyperscale Data, Inc.
Hyperscale Data is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies with global impact. The company operates across diverse sectors, including data center operations, Bitcoin mining, colocation and hosting services, social gaming, equipment rentals, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations, textiles, and private credit and structured finance. Their headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.
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