Coolisys Provides Business Update and Announces $65 Million in Total Backlog
FREMONT, Calif., March 04, 2020 (GLOBE NEWSWIRE) — Coolisys Technologies, Inc. presented at the LD Micro Third Annual Virtual Conference on March 4, 2020. The Company’s CEO and Chairman, Milton “Todd” Ault, III, provided an overview of DPW and its subsidiaries, discussed the Company’s goals for 2020 and disclosed the Company’s total backlog as of February 29, 2020 was $65 million, including $46 million in related party backlog (related-party backlog is delinquent in the production schedule). The written presentation discussed during the conference was disclosed on Form 8-K filed with the U.S. Securities and Exchange Commission.
The $65 million backlog includes recently received orders from the Company’s global power electronics business, Coolisys Technologies, Inc. totaling approximately $2.2 million primarily from existing customers for customized products in multiple industries including medical instruments, telecommunications, industrial equipment and defense. The orders are expected to be shipped over the next six months. The recent orders include an order from a new defense customer for a full custom designed product for a military lightweight and compact uninterruptable power supply to power mission-critical and tactical communication systems for combat field deployment. Another recent order is for a power system designed to power optical transport systems used in broadband networks in addition to some other custom solution orders Coolisys has recently received.
Coolisys offers a variety of power electronics products including off-the-shelf, ruggedized and modified, or complete custom designs, from an in-house design team. Coolisys’ CEO, Amos Kohn said, “The recent increase in orders is the result of long-term relationships and a strong reputation for delivering custom high-reliability power solutions for the global defense, medical, industrial and telecommunications industries.”