Ault Alliance’s Subsidiary, Gresham Worldwide, Secures $20 Million Contract for Defense Systems
Ault Alliance, Inc. subsidiary Giga-tronics, also known as Gresham Worldwide, has been awarded a significant $20 million contract to supply bespoke systems to a major strategic defense customer. The contract will be executed through Gresham Worldwide’s subsidiary, Enertec Systems 2001, Ltd., based in Israel. Enertec, with over 30 years of experience in delivering innovative test, simulation, and monitoring systems, has secured an initial $5 million for materials procurement and an additional $1.5 million for immediate system deliveries.
The contract spans a period of three years, from 2024 to 2026, and is expected to contribute to Enertec’s backlog, revenue streams, and profitability. To ensure timely and high-quality deliveries, Enertec is actively recruiting exceptional engineers and technicians.
Zvika Avni, CEO of Enertec, expressed confidence in the company’s unique technologies and long-standing customer relationships, stating that they anticipate receiving additional large orders from the same customer in the coming years.
Enertec’s track record in delivering purpose-built electronic solutions positions the company well to capitalize on the growing demand for electronic test, control, and operational systems. As one of the largest and most respected defense contractors in Israel, Enertec remains committed to supporting the country’s defense and aerospace sectors.
Jonathan Read, Chief Executive of Gresham Worldwide, sees this new order as validation of their investment in Enertec’s business model and growth potential. He believes that executing on this contract and subsequent orders will drive positive results and contribute to the success of Gresham Worldwide and its investors.
For more information on Ault Alliance and its subsidiaries, interested parties are encouraged to refer to the company’s public filings and press releases available on their website or at the Securities and Exchange Commission’s website.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company that acquires undervalued businesses and disruptive technologies with a global impact. Their subsidiaries and strategic investments span various industries, including data centers, artificial intelligence, metaverse platforms, defense, aerospace, medical technology, and more.
About Gresham Worldwide
Gresham Worldwide operates across the US, UK, and Israel, specializing in technology solutions for the defense, aerospace, medical technology, transportation, and telecommunications sectors. They are committed to enhancing and protecting lives through their innovative offerings.