Ault Alliance, Inc., a diversified holding company, has announced a significant development today. Its wholly-owned subsidiary, Eco Pack Technologies, Inc., has entered into an agreement to acquire an 80% ownership stake in Eco Pack Technologies LTD ("Eco Pack").

Eco Pack is at the forefront of a packaging revolution, offering innovative eco-centric alternatives. Targeting manufacturers of fast-moving consumer goods, Eco Pack harnesses Siemens Digital technology to tackle contemporary packaging challenges. By leveraging the latest digital technology for data-driven analysis and decision-making, Eco Pack specializes in developing packaging solutions that marry sustainability with reduced environmental impact. Their groundbreaking approach aims to enhance packaging design, material choices, and supply chain efficiency, enabling businesses to embrace eco-friendly options without compromising quality or performance. Notably, Eco Pack's solutions have the potential to replace traditional cardboard boxes and shrink-wraps commonly used in major retail chains. With a modular framework, Eco Pack's machinery is designed to adapt to various manufacturing settings. The company believes that Eco Pack's technology will pave the way for businesses to embrace environmentally friendly practices, which could be highly appealing to many customers.

Milton "Todd" Ault, III, Executive Chairman of Ault Alliance, emphasized the strategic significance of this move, stating, "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."

It's important to note that the closure of this agreement is subject to customary closing conditions and regulatory approval by the parties involved.

This press release serves informational purposes only and should not be considered an offer to sell or exchange, nor a solicitation to buy shares of the company's common stock or any other securities.

For further information on Ault Alliance and its subsidiaries, Ault Alliance recommends that shareholders, investors, and interested parties refer to Ault Alliance's public filings and press releases available in the Investor Relations section at www.Ault.com or www.sec.gov.

 

Source:businesswire.com

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