LAS VEGAS--(BUSINESS WIRE)--Nov 30, 2023--
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“ Ault Alliance,” or the “ Company ”), announced today that MTIX Ltd. (“ MTIX ”), a wholly owned subsidiary of the Company’s majority owned subsidiary, Avalanche International Corp., has achieved substantial cost savings and environmental benefits with a digital scouring process algorithm associated with its license with PANGAIA.
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MTIX MLSE Machine Assembled, Installed and Operational Photo exclusive property of MTIX, Ltd. All rights reserved @2023 www.mti-x.com
MTIX Ltd, in collaboration with RDD Textiles (“ RDD ”) and PANGAIA, has been working towards eliminating the wet pre-treatment process through the use of its proprietary MLSE laser technology. This innovative approach aims to save water and energy as well as process chemicals efficiently. A recent Life Cycle Assessment (“ LCA ”) has demonstrated savings of over 87% for electricity use and 98% reduction in water use compared to conventional processes for pre-treatment for dyeing.
RDD Textiles is showcasing this fabric along with its other innovations at ISPO 2023 in Munich, Germany this week Booth #C1.327. ISPO is the world’s largest trade fair for sporting goods and sportswear.
Phil Mansour, the CEO of MTIX, stated, “We are pleased at the results of the combined efforts of our teams. This LCA demonstrates what we have always believed about MLSE and its ability to make a substantial environmental difference in the textile industry, substantially saving water, chemicals and energy.”
PANGAIA stated, “PANGAIA is constantly searching for new innovative solutions to improve the environmental footprint of existing materials and processes within the textile industry. Dyeing presents one of the industry’s most pressing issues but by working with the MLSE technology we have collectively shown the potential to improve its footprint substantially specifically in the dye preparation stage. We look forward to building on this work with MTIX and RDD to drive change for dyeing practices across our industry.”
Ana Tavares from RDD stated, “MLSE technology will revolutionize the textile industry, avoiding wet pre-treatment of fabrics, an unavoidable process when dyeing fabrics, saving resources such as water, chemicals and energy while minimizing costs. Beyond that, RDD and MTIX team are also working on the functional finishings for knitted fabrics, such as durable water resistance (“ DWR ”), also a possible application, with the same plasma technology. This kind of finishing normally uses harmful chemicals that can be avoided with the use of MLSE technology.”
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 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 a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.
About RDD Textiles
RDD’s mission is to develop innovative materials and technologies that minimize the environmental impact of the fashion industry. We specialize in low impact fabrics by leveraging emerging technologies and unique raw materials. As a valuable supply chain partner, we actively support innovators, promote knowledge-sharing, and collaborate closely with Valerius Group and external partners. By exploring the potential of bio-based, regenerative, and recycled materials, RDD aims to foster a harmonious relationship between industry and innovation, leading to a more responsible production and consumption.
About PANGAIA
PANGAIA is a purpose-driven lifestyle company bringing problem-solving materials science innovations to the world. We are a global collective of one heart and many hands - scientists, technologists, designers – using nature’s intelligence to create apparel from innovative tech and bio-engineered materials.
Our vision is to inspire and accelerate an earth positive future as we design a business model where our products are better for the planet than if they did not exist. Every product we create is born from science and purpose, each solving an environmental problem of the industry.
From the materials we use to the colors we create, we are committed to protecting, preserving and promoting biodiversity on earth, pioneering and using materials that consider the delicate balance between planet, functionality and purpose.
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,” “considering,” 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 other than as required by applicable law. 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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CONTACT: Ault Alliance Investor Contact:
IR@Ault.comor 1-888-753-2235
KEYWORD: NEVADA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ENVIRONMENT TECHNOLOGY TEXTILES CHEMICALS/PLASTICS OTHER TECHNOLOGY MANUFACTURING MACHINERY MACHINE TOOLS, METALWORKING & METALLURGY HARDWARE
SOURCE: Ault Alliance, Inc.
Copyright Business Wire 2023.
PUB: 11/30/2023 06:30 AM/DISC: 11/30/2023 06:31 AM
http://www.businesswire.com/news/home/20231130768036/en
