Newport Beach, Calif., April 06, 2020 (GLOBE NEWSWIRE) — DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced that its global power electronics business, Coolisys Technologies Corp. (“Coolisys”), is seeing offshore manufacturing partners, particularly in Asia, are back to near full capacity. In addition, Coolisys is realizing an increase in demand from its customers in the medical industry, specifically related to power supplies for oxygen concentrators and ventilators, with approximately $1.4 million in orders.
Our global supply chain was partially disrupted earlier this year by the COVID-19 outbreak in China and other Asian countries; however, based on improved conditions related to the COVID-19 pandemic in Asia, we have recently resumed the production of key products by Coolisys’ Chinese and Taiwanese manufacturing partners, including power applications for the medical industry.Coolisys engineers have been designing and developing power supply products for the medical industry for over 12 years. Coolisys products have helped pave the way for advancements in a wide variety of medical applications, including surgical equipment, patient monitoring and therapy systems, patient beds and ventilators.Coolisys products are designed to serve mission critical applications for lifesaving and life-sustaining applications across diverse markets. Coolisys medical power supplies meets IEC 60601-1 safety requirements for medical applied parts. Using power supplies that adhere r to the EN60601-1 safety standard helps medical device and system manufacturers speed compliance testing of their own products.Coolisys’ CEO, Amos Kohn said, “In addition to recent defense industry orders, we are seeing an increase in demand for our products in the medical and healthcare sector. We are also pleased to report that our offshore manufacturing partners are back to near full capacity to enable us to continue our strong reputation for delivering custom high-reliability power solutions for the medical industry.”For more information on DPW Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.DPWHoldings.com or available at www.sec.gov.About DPW Holdings, Inc.DPW Holdings, 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, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the Company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW’s headquarters are located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.Forward-Looking StatementsThis 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.DPWHoldings.com.
Contacts: IR@DPWHoldings.com or 1-888-753-2235
Bay Street News