TurnOnGreen Bolsters Market Presence with $3.9 Million in Strategic Defense Contracts

MILPITAS, Calif.--(BUSINESS WIRE)--Nov 27, 2024--

TurnOnGreen, Inc. (OTC: TOGI) (“TurnOnGreen” or the “Company”) announced today that its power electronics division, Digital Power Corporation (“DPC”), has secured $3.9 million in defense contracts. The agreements encompass the production and integration of cutting-edge defense-grade power conversion modules (PCMs), tactical power switching and charging systems, and proprietary power distribution solutions. These advanced technologies are tailored to enhance the performance of off-road tactical vehicles, military ambulances, and critical warfare communication and networking systems.

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Further strengthening its position in the defense sector, TurnOnGreen has secured a strategic contract with a prominent Israel-based defense original equipment manufacturer (OEM). Under this agreement, the Company will supply and integrate advanced power systems for all-terrain armored fighting vehicles and first-response military ambulances.

Expanding its global reach, TurnOnGreen is also providing custom-designed, uninterruptible power solutions to a leading aerospace and defense corporation. These solutions are integral to supporting Transportable Tactical Command Communications systems, which are critical to military operations worldwide.

TurnOnGreen’s cutting-edge power solutions play a vital role in supporting modern military operations across diverse and challenging terrains. In collaboration with the Israel Defense Forces (“IDF”), the Company has developed and delivered power systems that meet the stringent demands of today’s battlefield environments. These solutions have undergone rigorous testing and validation by the IDF complying with both its exacting requirements and international military standards.

“Securing contracts with some of the world’s largest domestic and international defense firms, along with the qualification of DPC's technology by the IDF, highlights our unmatched expertise in designing and manufacturing advanced, high-grade power electronics,” said Amos Kohn, Chairman and CEO of TurnOnGreen. “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. Mr. Kohn added, “TurnOnGreen’s growth trajectory continues to accelerate across aerospace, defense, industrial, and telecommunications sectors, solidifying our position as a trusted partner for customers who rely on innovative and dependable power solutions.”

"TurnOnGreen remains dedicated to driving long-term value through strategic high-growth verticals such as electric vehicle charging, advanced electronics for defense, and telecom sectors," said Marcus Charuvastra, President of TurnOnGreen. "These high-margin opportunities are integral to our mission of delivering sustained financial growth while maximizing returns for our shareholders."

For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.

About TurnOnGreen

TurnOnGreen, Inc. (OTC: TOGI) designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs.

TurnOnGreen headquarters are located at Milpitas, CA; www.TurnOnGreen.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.TurnOnGreen.com.

Tigris Armore Vehicle @2024 All rights reserved.

Photo courtesy of Digital Power Corporation @2024 All rights reserved.

SEOUL, South Korea (AP) — South Korea’s president on Wednesday met a visiting Ukraine delegation and called for the two countries to formulate countermeasures in response to the threat posed by North Korea’s recent dispatch of more than 10,000 soldiers to support Russia’s war against Ukraine.

The North Korean troop deployment is threatening to expand the almost three-year war, with Ukraine and the U.S. saying that some of the soldiers have already begun engaging in battle on the front lines. Seoul and Washington also worry that Russia might in return help North Korea build more advanced nuclear weapons targeting them. In late October, South Korea warned it could respond by supplying weapons to Ukraine.

During a meeting with the Ukrainian delegation led by Defense Minister Rustem Umerov, President Yoon Suk Yeol said he hopes that Seoul and Kiev will work out effective ways to cope with the security threat posed by the North Korean-Russian military cooperation including the North’s troop dispatch, Yoon’s office said in a statement.

The Ukrainian delegation later met separately with Yoon’s national security adviser, Shin Wonsik, and Defense Minister Kim Yong Hyun. During the meetings, Umerov briefed the South Korean officials on the status of the Russia-Ukraine war and expressed hope that Kyiv and Seoul will strengthen cooperation, the statement said.

It said the two sides agreed to continue to share information on the North Korean troops in Russia and North Korean-Russian weapons and technology transfers while closely coordinating with the United States.

The South Korean statement didn’t say whether the two sides discussed Seoul’s possible weapons supply to Ukraine.

Many observers say Donald Trump’s victory in the U.S. presidential election could make South Korea more cautious about potentially shipping weapons to Ukraine because Trump has promised to end the war swiftly.

Since Russia’s invasion of Ukraine in 2022, South Korea has joined U.S.-led sanctions against Moscow and shipped humanitarian and financial support to Kyiv. But it has avoided directly supplying arms in line with its policy of not supplying lethal weapons to countries actively engaged in conflicts.

South Korean officials have said they will take phased countermeasures, linking the level of their response to the degree of Russia-North Korean cooperation. Shin, the national security adviser, said last week that Russia has supplied air defense missile systems to North Korea in exchange for its sending troops to Russia. Experts say it’s unlikely that Russia will transfer high-tech nuclear and missile technology to North Korea in the initial stage of the troop dispatch.

North Korea and Russia have sharply increased their military and other cooperation as each face confrontations with the U.S. and its allies. The U.S., South Korea and others accuse North Korea of having shipped artillery, missiles and other conventional weapons to Russia.

South Korean protesters stage a rally against their government's plans to supply weapons to Ukraine, in front of the Presidential Office in Seoul, South Korea, Wednesday, Nov. 27, 2024. (AP Photo/Ahn Young-joon)

South Korean protesters stage a rally against their government's plans to supply weapons to Ukraine, in front of the Presidential Office in Seoul, South Korea, Wednesday, Nov. 27, 2024. (AP Photo/Ahn Young-joon)

South Korean protesters stage a rally against their government's plans to supply weapons to Ukraine, in front of the Presidential Office in Seoul, South Korea, Wednesday, Nov. 27, 2024. (AP Photo/Ahn Young-joon)

Ukraine's Defense Minister Rustem Umerov, left, arrives at the Defense Ministry in Seoul, South Korea, Wednesday, Nov. 27, 2024. (Kim Ho-jun/Yonhap via AP)