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NEWPORT BEACH, Calif., March 07, 2019 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a diversified holding company, announced today that Coolisys Technologies, Inc., (“Coolisys”), through its wholly owned subsidiary, Enertec Systems 2001, Ltd. (“Enertec”), has received a contract totaling $2,900,000 from a leading defense and aerospace OEM to develop and manufacture a comprehensive satellite testing system for its space division. Enertec is a leading defense and aerospace designer and manufacturer of advance multi-purpose electronic systems including customized computer-based automated test equipment and turnkey electronic solutions designed to perform in harsh environments and battlefield conditions.
Zvi Avni, the CEO of Enertec, said, “This important win is the result of a multi-year sales developmental effort and reinforces Enertec’s strategic focus on delivering complex solutions for the defense, and aerospace industry, domestically and abroad. We believe we are well-positioned to pursue additional orders for similar systems from existing and new customers.”
Coolisys’ President and CEO, Amos Kohn, stated, “We are excited that Enertec was awarded this contract to provide a satellite testing system based on our modular test-system architecture. We believe this illustrates Enertec’s ability to work with our customers to identify their needs and demands and enhances Enertec’s reputation as an innovative provider of state-of-the-art mission computer testing equipment. This exemplifies Coolisys’ strong customer-driven ability to provide comprehensive advanced technological solutions for the rapidly expanding aerospace industry.”
"For more information on the Company, DPW 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 http://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 that hold global potential. Through its wholly 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.
About Coolisys Technologies, Inc.
Coolisys Technologies, Inc., is dedicated to providing world-class technology-based solutions for critical applications and lifesaving services, in which innovation is the main driver. Coolisys serves the defense, aerospace, naval, homeland security, medical, telecom, datacom, and industrial markets. Its growth strategy targets core markets that are characterized by “high barriers to entry” and that require specialized products and services that are not likely to be commoditized.
The foregoing 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: Mary Magnani and Kirsten Chapman, LHA Investor Relations, 415.433.3777, firstname.lastname@example.org