#Dyeing, Drying, Finishing

2023-11-09

Ault Alliance announces licensing of MLSE Platform by its subsidiary, MTIX Ltd.

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 entered into a license agreement for its patented Multiplexed Laser Surface Enhancement (“MLSE”) technology.

The MLSE technology employs several different process algorithms for digital scouring and post-dye cleaning to help reduce and eliminate water from processes that are historically water intensive.

The textile industry is the world’s second largest commercial source of pollution, surpassed only by the oil industry. Currently, the textile industry uses approximately 1.3 trillion gallons of water annually to dye fabrics. This water, which is loaded with harmful chemicals and dyes, can flow virtually untreated into rivers and streams around the world.

Installation of MTIX’s technical textile treatment system, which utilizes a proprietary, patented MLSE processing technology, is expected to be completed by year end. Currently, the system is scheduled to undergo final testing, configuration, and training, prior to becoming fully operational during Q1 2024.

Phil Mansour, CEO of MTIX stated, “We are excited for MTIX as it continues its path towards commercialization of the MLSE technology. This is a large step in the right direction for MTIX and we will continue to focus on the fine tuning of the MLSE technology and creating awareness around its wide array of applications throughout the textile industry.”

“Our support for MTIX remains steadfast and we will continue to assist MTIX management wherever practicable. We are optimistic about the advancements and future developments of the MLSE technology,” stated William Horne, CEO of Ault Alliance.

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 https://www.Ault.com or available at https://www.sec.gov.

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