Ault Alliance Agrees to Acquire Majority Stake in Eco Pack Technologies LTD
26 September 2023 - 8:30PM
Business Wire
Eco Pack Technologies LTD — a leading UK-based innovator,
offers sustainable secondary packaging solutions for fast-moving
consumer goods manufacturers through emphasizing low cost, reducing
carbon footprint, and eliminating the need for the wasteful heat
shrink packaging process
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 entered into an agreement (the “Agreement”) to
acquire an 80% ownership stake in Eco Pack Technologies LTD
(“Eco Pack”).
Eco Pack is at the forefront of packaging transformation,
offering eco-centric alternatives. Catering to fast-moving consumer
goods manufacturers, Eco Pack employs Siemens Digital technology to
address modern-day packaging challenges. Using the latest digital
technology enabling data driven analysis and decision making, Eco
Pack develops packaging that marries 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 poised 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 varied manufacturing settings. The Company
believes that Eco Pack’s technology will pave the way for
businesses to adopt eco-friendly measures, which many customers may
find attractive.
Milton “Todd” Ault, III, Executive Chairman of Ault Alliance,
remarked, “Incorporating Eco Pack into our portfolio is a strategic
move given our belief that Eco Pack’s cutting-edge solutions
address the pressing need for greener consumer goods production.
Our principal goal is to rapidly promote its growth across the
U.S., the UK, Europe and Asia.”
The closing of the Agreement remains subject to the parties
thereto meeting customary closing conditions and obtaining
regulatory approval.
This press release is for informational purposes only and shall
not constitute an offer to sell or exchange nor the solicitation of
an offer to buy shares of the Company’s common stock or any other
securities of the Company.
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 a 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 its 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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