Ecoark Holdings, Inc. Completes Sale of Eco3d

Company reallocating capital as it continues focus on generating long-term shareholder value through commercialization of core technologies and new strategic acquisitions

Rogers, AR (April 17, 2017) – Ecoark Holdings, Inc. (“Ecoark”) (OTCQX: EARK), a provider of a suite of proprietary technologies and services that drive sustainability and facilitate sustainable growth for a wide range of clients, today announced it has completed a sale of the assets of its subsidiary, Eco3d, for cash and assets with a value of approximately $4.8 million. The transaction was completed on April 14, 2017.  Proceeds from the sale consist of $1.9 million cash, 560,000 shares of Ecoark Holdings, Inc.’s common stock, returned to the company by the buyer’s principals at $4.74 per share, the closing share price on the date of the transaction closing, and the assumption of liabilities, including $200,000 payable to Ecoark Holdings within four months.

“This transaction is another significant step in our strategic growth plan, as it allows us to further focus our efforts on the commercialization and eventual profitability of our core technologies, such as Zest Fresh, and to add additional strategic acquisitions to our portfolio that provide the greatest opportunity of generating long-term shareholder value,” said Jay Puchir, CEO, Ecoark Holdings, Inc. “Eco3d was a positive addition to our portfolio, as it had strong management and was well recognized as an industry-leader within its space. As Ecoark continues to hone its focus towards its core mission, we will continue to allocate new and existing capital toward investments that provide long-term shareholder value as we enter this exciting next phase for our Company and our shareholders.”

The sale is one of several recent steps taken by the Company to further streamline operations and reallocate capital to achieve its core mission – generate long-term shareholder value by establishing and developing a portfolio of subsidiaries featuring either stable, free cash flow positive businesses or opportunistic, scalable technologies. The Company will continue its production of commercialized solutions to solve the $35 billion dollar problem of fresh food loss within the supply chain, led by its wholly owned subsidiary Zest Labs and its fresh management solution, Zest Fresh. Zest Labs has an opportunistic, scalable technology that reduces waste and maintains freshness quality, consistency, and margins within the fresh foods supply chain, providing real-time feedback that empowers workers to maintain best practices.

About Ecoark Holdings, Inc.

Based in Rogers, AR and founded in 2011, Ecoark Holdings, Inc. is a growth-oriented company based in the retail and logistics hub of Northwest Arkansas. Ecoark’s current portfolio of subsidiaries monetize the reduction of waste in Operations, Logistics, and Supply Chains across the evolving global economy.

Ecoark’s vision is to deploy a company-first philosophy using radical transparency to optimize capital deployment via aggressive deal flow sourcing and vetting, and achieve financial objectives by hiring and developing strong, properly incentivized managers.

Ecoark addresses these vital economic factors through three active subsidiaries, Zest Labs, Pioneer Products, and Magnolia Solar.

For more information, please visit http://www.ecoarkusa.com/.

Forward Looking Statement:

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

Using the Internet of Things to reduce food waste (Huffington Post)

The USDA estimates that more than 30% of all food products in the United States are thrown away, costing the nation more than $161 billion per year.  This is often due to an inefficient supply chain that struggles to keep produce cool, and therefore fresh enough, from farm to store.

The temperature of produce is crucial, with even seemingly minute changes in the rate at which crops are placed in the correct temperature having a significant impact on the shelf-life of the produce.  Not only does this make for a whole lot of food waste, but it also makes it hard for consumers to trust the used by date on the produce itself.

Such challenges have encouraged a number of fascinating projects that aim to try and solve this problem and provide supply chain managers with real-time insights into the produce as it travels from field to store.

To read the entire article from Huffington Post, please click here.

Ecoark Holdings, Inc. Subsidiary Magnolia Solar Awarded U.S. Patent on Thin Film Solar Cells on Flexible Substrates and Methods of Constructing the Same

Rogers, AR (April 4, 2017) – Ecoark Holdings, Inc. (OTCQX: EARK), a provider of a growing suite of proprietary technologies and services that drive sustainability and facilitate sustainable growth for a wide range of clients, today announced its subsidiary Magnolia Solar, Inc. has recently been awarded a new U.S. patent by the United States Patent and Trademark Office (USPTO).

The U.S. Patent No 9,590,133 issued on March 7, 2017 relates to the development of “Thin Film Solar Cells and Methods of constructing the same.”

Magnolia Solar develops flexible, lightweight, high-efficiency solar cell technologies for a wide range of applications including portable power applications. Magnolia Solar’s technology portfolio includes nanostructured antireflection coatings, advanced thin film photovoltaic absorber structures, and novel low-cost manufacturing processes. Flexible thin film solar cells are an attractive source of portable and mobile power, as they can be integrated into flexible, lightweight photovoltaic modules that can operate in both terrestrial and space environments.

Magnolia Solar, Inc. is now the assignee of seven U.S. Patents and has 16 additional patent applications that are at various stages of review at the U.S. Patent Office. These issued patents describe and protect Magnolia Solar’s innovations in the field of high-performance, lightweight flexible solar cells for photovoltaic applications and expands the intellectual property portfolio to these issued patents.

The issuance of this most recent U.S. patent is the second in 2017 for Magnolia Solar. On January 10, 2017, it was issued U.S. Patent No. 9,543,456 related to the development of “Multijunction Solar Cell Employing Extended Heterojunction and Step Graded Antireflection Structures and Methods of constructing the same.” These patents build the intellectual property for Magnolia Solar, a subsidiary of Ecoark Holdings, Inc.

“We are pleased that our subsidiary, Magnolia Solar has been awarded a second patent this year. These patents ensure the protection of our technology in the field of flexible photovoltaics and nanostructured Antireflection Coating technologies,” said Troy Richards, Chief Administrative Officer, Ecoark Holdings Inc.

“As solar applications become more mainstream, it’s important that the industry makes advances in the technology in order to increase the efficiency and drive the costs down. The team at Magnolia Solar have made great strides as they pursue the commercialization of solar technology, and this newly awarded patent is validation of that work,” said Jay Puchir, CEO, Ecoark Holdings, Inc. “As a company focused on sustainability, all of us at Ecoark are tremendously proud of this accomplishment.”

About Ecoark Holdings, Inc.

Based in Rogers, AR and founded in 2011, Ecoark Holdings, Inc. is a growth-oriented company based in the retail and logistics hub of Northwest Arkansas. Ecoark’s portfolio of technology solutions increase operational visibility and improve organizational transparency for a wide range of corporate clients.

Ecoark’s technologies fight waste in Operations, Logistics, and Supply Chains across the evolving global economy. Ecoark’s portfolio of companies and technologies work to integrate people, processes, and data in order to overcome ingrained operational hurdles and create new revenue streams.

Ecoark’s vision is to expose the cycles of waste that reduce efficiency and cost effectiveness across the business landscape. Ecoark’s strategically acquired subsidiaries have anticipated and responded to key economic factors impacting every business today.

Ecoark addresses these vital economic factors through four active subsidiaries, Zest Labs, Eco3d, Pioneer Products, and Magnolia Solar.

For more information, please visit http://www.ecoarkusa.com/.

Forward Looking Statement:

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

Ecoark exec moved up to CEO position (ArkansasOnline)

Ecoark Holdings Inc. has named Jay Puchir its chief executive officer as part of a reorganization in advance of the company’s plan to complete its application for uplisting on the Nasdaq Capital Market.

Puchir moves into the CEO role after previously leading Ecoark’s financial planning and analysis, treasury and secretary functions. He replaces Ecoark founder Randy May as CEO. May will remain chairman of the company’s board of directors.

In addition to Puchir’s promotion, Ecoark has named former Wal-Mart treasurer Charles Rateliff as chief financial officer and treasurer. Rateliff retired from Wal-Mart in 2005 after a 25-year career and has been an independent member of the Ecoark board since May.

Roshan Weerasinghe also was appointed CEO of Pioneer Products, an Ecoark subsidiary.

Ecoark is a company in Rogers that focuses on reducing waste in operations, logistics and supply chains.

To read more from ArkansasOnline, please visit their website.

In Preparation for Nasdaq Uplisting, Ecoark Holdings Appoints Jay Puchir CEO and Adds Former Walmart Treasurer Charles Rateliff as CFO

Restructuring to Streamline Parent Company and Focus Key Subsidiaries on Profitability

Founder Randy May to Remain Chairman of the Board

 Rogers, AR – March 29, 2017Ecoark Holdings, Inc. (“Ecoark” or “Ecoark Holdings”) (OTCQX: EARK) today announced several key organizational changes to streamline parent company operations and focus key subsidiaries on attaining profitability as the company prepares to complete its application for uplisting on the Nasdaq Capital Market. As part of the restructure, the Ecoark board of directors has unanimously voted to appoint Jay Puchir CEO of Ecoark Holdings.  Ecoark Founder Randy May will remain Chairman of the Board after nominating Jay Puchir to assume the CEO role. The company also elected former Walmart Treasurer Charles Rateliff CFO and Treasurer of Ecoark Holdings.  The company’s CFO position has remained vacant since former CFO Yash Puri resigned in January 2017.

“Over the past 12 months, as a post-merger public company, we’ve successfully focused on fundraising and growth through acquisition. As we prepare for this critical next stage of the company and uplisting to Nasdaq, we’re proud to promote Jay as our new CEO to develop and execute our strategic growth plan and ensure we deliver maximum shareholder value,” commented Randy May, former CEO of Ecoark Holdings. “During his time as director of finance, secretary, and treasurer, Jay has been invaluable in helping Ecoark and our subsidiaries begin to adopt industry best practices. I’m looking forward to continuing to work closely with him as we enter this exciting next phase of the company’s maturation.”

Key Organizational Changes

In addition to appointing Jay Puchir CEO and Charles Rateliff CFO, Ecoark Holdings also announced two additional executive changes:

  • COO Roshan Weerasinghe was appointed as CEO, Pioneer Products, an Ecoark subsidiary, to focus full time on business development and not corporate operations; and
  • SVP of Business Development Gregg Hames will transition to his new role as SVP of Implementation, Zest Labs, an Ecoark subsidiary, moving from his role at Ecoark.

“Ecoark has rapidly and successfully transitioned from the development stage to a highly valuable collection of revenue-producing subsidiaries that solve major business challenges. We’re currently focused on improving our fundamentals, increasing sales through growth and acquisitions, and attaining profitability to maximize shareholder value,” said Puchir. “The fact that Charles is coming out of retirement to become CFO demonstrates his confidence in the company and the huge market opportunity in front of us.  I’m looking forward to the opportunity to lead this highly dynamic organization with disruptive technologies through one of the most exciting processes in business.”

Jay Puchir has held executive roles at several companies prior to joining Ecoark Holdings. Most recently, he led Ecoark’s financial planning and analysis, treasury and secretary functions, and worked with the Corporate Controller with financial reporting. Jay began his career as an auditor and consultant with one of the Big 4 accounting firms, ultimately earning the position of Senior Manager. He then held the role of the Director of Finance/Controller at a state college, and then Associate Chief Financial Officer within a Fortune 100 healthcare organization. A licensed Certified Public Accountant, Jay received his Bachelor of Arts from the University of North Carolina at Chapel Hill and his Master of Business Administration from Rutgers University.

Charles Rateliff retired in 2005 from Walmart Stores as a Senior Vice President after a 25-year career. Following his retirement, he served as an independent consultant to several private investment groups. After receiving an MBA from the University of Arkansas, he was hired as an internal auditor for Walmart and within five years was promoted to Assistant Treasurer and later on, Treasurer. Over the course of his career at Walmart, Charles worked across several departments including compliance, risk management, profit sharing and associate benefits.  Charles has been an independent member of the Ecoark Board of Directors since May 2016.

In addition to the aforementioned executive changes, the Board voted to increase the number of Directors from seven to nine and will immediately begin searching for two additional independent Directors to fill the vacancies.

About Ecoark Holdings Inc.

Founded in 2011, Ecoark Holdings, Inc. is a growth-oriented company based in the retail and logistics hub of Northwest Arkansas. Ecoark’s portfolio of technology solutions increase operational visibility and improve organizational transparency for a wide range of corporate clients.

Ecoark’s technologies fight waste in Operations, Logistics and Supply Chains across the evolving global economy. The company’s portfolio of companies and technologies work to integrate people, processes and data in order to overcome ingrained operational hurdles and create new revenue streams.

Ecoark’s vision is to expose the cycles of waste that reduce efficiency and cost effectiveness across the business landscape. Its strategically acquired subsidiaries have anticipated and responded to key economic factors impacting every business today. Ecoark addresses these vital economic factors through four active subsidiaries, Zest Labs, Eco3d, Pioneer Products, and Magnolia Solar. For more information, please visit www.ecoarkusa.com.

Forward Looking Statement

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.