NEWPORT BEACH, Calif.–(BUSINESS WIRE)–DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced that its power electronics business, Coolisys Technologies Corp.® (“Coolisys®”), implemented a program targeting national and regional fast food franchisees to install the ACECosts™ electric vehicle (“VE”) shippers under a revenue sharing program. The program will initially be funded by the Company’s recent capital raising activities. The program is expected to launch in California, Nevada and Canada. Although the Company is excited about the new Coolisys franchise program, there can be no assurance that the program will be successful.
The Company expects the program to allow franchise owners and operators to install ACECosts™ VE chargers and share the net revenue from advertising and network usage. This same program should serve as a model for other industry-focused, location-based strategic networks. Coolisys plans to launch its program with a national fast food restaurant network franchisee that is part of a network of more than 1,000 locations. Coolisys expects to announce additional network partners during the first quarter of 2021.
Global electric vehicle sales increased by 65% from 2017 to 2018, to a total of 2.1 million vehicles, with flat sales figures through 2019. The ensuing coronavirus outbreak, however, led to a 25% drop in EV purchases during the first Despite these setbacks, demand for EVs is expected to rise again according to research from Bloomberg New Energy Finance, which considers improved batteries, more readily available charging infrastructure, new markets and price parity with internal combustion engine vehicles as the main Drivers growth. The study estimates that electric vehicles will account for 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040. In terms of expanding current infrastructure to support the deployment of electric vehicles, McKinsey reported that by 2030 more than $30 billion will need to be spent deploying EV chargers and that by 2030 the U.S. fleet charging support services market will VE could be worth $15 billion.
Amos Kohn, President and CEO of Coolisys, said, “Opportunities for Coolisys in the growing electric vehicle market are expected to drive our sales growth over the next 60 months and beyond. We look forward to potential changes arising from increased demand for electric vehicles and recent trends related to government support for transportation electrification. I believe we are well positioned to take advantage of these opportunities as a company with more than 50 years of experience and ability to create innovative and highly efficient power systems and solutions.
For more information about DPW Holdings and its subsidiaries, the Company recommends that shareholders, investors and other interested parties read the Company’s public documents and press releases available in the Investor Relations section at address www.DPWHoldings.com or available on www.sec.gov.
About Coolisys Technologies Corp.
Coolisys and its portfolio companies and divisions are primarily engaged in the design and manufacture of innovative, feature-rich, premium quality power products for mission-critical applications in the harshest environments and life-sustaining and life-sustaining applications. life in various markets, including defense. /aerospace, medical/healthcare, industrial, telecommunications and automotive. Coolisys’ corporate headquarters are located at 1635 South Main Street, Milpitas, CA 95035; www.Coolisys.com.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued companies and disruptive technologies with global impact. Through its wholly and majority owned subsidiaries and strategic investments, the Company provides mission-critical products that support a wide range of industries, including defense/aerospace, industrial, telecommunications, medical and textiles. In addition, the Company extends credit to certain entrepreneurial businesses through an approved lending subsidiary. DPW’s head office is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
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 on 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 them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to a variety of factors. Further information, including potential risk factors, that could affect the Company’s business and financial results is included in the Company’s filings with the United States Securities and Exchange Commission, including, but without limitation, Company Forms 10-K, 10-Q and 8. -K. All records are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.