Shareholder Letter from Chairman and CEO, Brian Bonar February 9, 2024
Dalrada ($DFCO) announced today that it had filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC), in which company Chairman and CEO, Brian Bonar, penned an open letter to the company’s shareholders. In it, he describes some of the past year’s major accomplishments and offers a look ahead at 2024. Read the letter below:
I would like to take this time to address our valued shareholders about the events of 2023 and our expectations for 2024. I will share how two of our leading businesses —within the healthcare and climate technology sectors—formed a solid foundation for Dalrada’s overall progress and success not just in 2023, but beyond.
As I reflect on the positive results and milestones we achieved in 2023, I realize that it was quite a transformative year for Dalrada. Not only did the company continue its successive quarterly revenue growth, but at the close of the fiscal year, Dalrada saw an impressive 54.3% revenue increase from the prior year. Increased revenues totaled approximately $30 million, which was $10 million more than the 2022 fiscal year.
On behalf of the Dalrada team, I would like to thank each and every shareholder for your continued support as we enact our vision and strategy to bring continued success to our organization.
Dalrada Technology Ltd. Moves into New UK Headquarters Designated for Clean Energy Technology and Manufacturing New facility will allow the specialized division of Dalrada Financial Corporation to further expand Deposition Technology (DepTec) and Likido
February 09, 2023 08:00 AM Eastern Standard Time SAN DIEGO--(BUSINESS WIRE)--Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada”), announced today that its UK division, Dalrada Technology Ltd., has signed a 10-year lease agreement at a new warehouse and office facility where it will continue to focus its efforts on driving clean energy technology and manufacturing advancements.
Dalrada Technology Ltd. intends to make the 20,000-square foot unit in Livingston, Scotland, its new UK headquarters, designating it for the manufacture of clean energy and semiconductor manufacturing technologies. To achieve this, the new facility will incorporate two wholly-owned Dalrada Corporation subsidiaries: Deposition Technology (DepTec) and Likido, companies that focus on advancing precision microchip and semiconductor technologies and building energy-efficient commercial heat pumps and industrial chillers, respectively.
The Scotland facility is also expected to provide Dalrada Technology Ltd. with the ability to rapidly scale up production capabilities to meet the growing demand for the company’s innovative heat pumps, not just in the UK, but around the world as well.
“Our new facility will bring together our business units and allow us to continue delivering bold technology and clean energy solutions to the UK market and beyond,” said Brian Bonar, CEO and Founder of Dalrada Financial Corporation. “We believe this is the ideal location to suit the needs of our growing businesses,” he added.
Bill Bonar, CEO of Dalrada Technology Ltd., and Co-Founder of Deposition Technology Ltd. said of the new headquarters, “Incorporating DepTec and Likido into a single building will allow us to maximize our ability to innovate technology solutions in specific markets through the effective collaboration of the design and engineering teams from both subsidiaries. This also allows the company to reduce costs and reduce energy usage by moving both business units under a new roof.”
Dalrada Technology Ltd. Plans on being moved into the new facility and fully operational by March 1.
About Dalrada Financial Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a forward-facing organization that continually produces disruptive products and services that accelerate positive change for current and future generations.
Since 1982, Dalrada has redefined possibilities while boldly addressing global challenges with transformative innovations that drive targeted advances in emerging markets for a new era of human behavior and interaction, ensuring a bright future for the world around us.
Dalrada Financial Corporation is committed to positively impacting people, businesses, and the planet through sustainable solutions. For more information, please visit www.dalrada.com, and follow us on Twitter, Facebook, and LinkedIn.
About Dalrada Technology Ltd.
Dalrada Technology Ltd. is a wholly-owned subsidiary of Dalrada Financial Corporation. The company’s primary focus is advancing semiconductor technologies and delivering clean energy solutions through the companies Deposition Technology (DepTec) and Likido. Dalrada Technology Ltd. is also the proud sponsor of Greenock Morton Football Club, a Scottish Championship league team.
About Deposition Technology
Deposition Technology (DepTec) was founded in 2004 to provide refurbished physical vapor deposition (PVD) systems. Over the years, the company has developed re-manufacturing capabilities and robust upgrades to legacy systems to keep these systems in operation while updating them with the latest technology and advanced features.
In 2014, DepTec developed its own unique PVD system, the EVOS, and entered the OEM arena. The company now has multiple systems installed to assist in producing devices used in modern medical and communications products.
DepTec innovates with continuous R&D programs, developing the next generation of precision equipment and upgrades. Its new product, the EVOS CVD, for advanced chemical thin film production, will be available to the market soon. For more information, please visit www.deptec.com.
About Likido
Likido is developing true energy-efficient solutions for a Net Zero world by 2050. Delivering proprietary technology that significantly reduces harmful CO2 emissions, patent-pending Likido™ONE heat pumps represent the future of heating and cooling. These revolutionary machines are designed to capture and reuse thermal energy at a significant reduction in cost while aiding in the dramatic reduction of GWP (global warming potential). Likido proudly builds next-generation energy solutions that solve one of the world’s greatest challenges: the decarbonization of heat.
Likido is an international clean energy technology company with offices and manufacturing in Scotland; California; Malaysia; and other global locations.
Disclaimer
Statements in this press release are not historical facts. The statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management’s current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the US Securities and Exchange Commission (“SEC”), including its annual report on Form 10-K.
Contacts William Bonar (wbonar@dalrada.com)
DALRADA FINANCIAL CORPORATION OTCQB:DFCO View stock quote and chart View SEC Filings Release Summary New UK-based facility will allow a specialized division of Dalrada Financial Corporation to further expand Deposition Technology (DepTec) and Likido.
More NewsRSS feed for Dalrada Financial Corporation Contacts William Bonar (wbonar@dalrada.com)
Dalrada Financial was founded as a PRIVATE company. BONAR probably got enough stock for his company to keep control of it when DFCO goes under.
This is a comingling of a "public" company and a family enterprise.
This is WRONG in so many ways.
Registered office address 1 Kingsthorne Park, Houstoun Industrial Estate, Livingston, Scotland, EH54 5DB Company status Active Company type Private limited Company Incorporated on 5 January 2016 Accounts Next accounts made up to 30 June 2024 due by 31 March 2025
Last accounts made up to 30 June 2023
Confirmation statement Next statement date 1 September 2024 due by 15 September 2024
Last statement dated 1 September 2023
Nature of business (SIC) 62012 - Business and domestic software development
Follow this company File for this company CompanyOverviewfor DALRADA TECHNOLOGY LTD (SC523533)Filing historyfor DALRADA TECHNOLOGY LTD (SC523533)Peoplefor DALRADA TECHNOLOGY LTD (SC523533)Morefor DALRADA TECHNOLOGY LTD (SC523533) OfficersPersons with significant control Filter officers Filter officersCurrent officers Officers:6 officers / 3 resignations
BONAR, William Ian Martin Correspondence address 1 Kingsthorne Park, Houstoun Industrial Estate, Livingston, Scotland, EH54 5DB Role ACTIVE Secretary Appointed on 10 February 2023
BONAR, William Ian Martin Correspondence address Fairmont House, 21 Oakbank Park Way, Eh482tw, Livingston, West Lothian, Scotland, EH53 0TH Role ACTIVE Director Date of birth July 1971 Appointed on 5 January 2016 Nationality British Country of residence Scotland Occupation Director
GOURDIE, Pauline Correspondence address 1 Kingsthorne Park, Houstoun Industrial Estate, Livingston, Scotland, EH54 5DB Role ACTIVE Director Date of birth July 1971 Appointed on 9 December 2022 Nationality British Country of residence United States Occupation Company Director
GOURDIE, Pauline Correspondence address Fairmont House, 21 Oakbank Park Way, Eh482tw, Livingston, West Lothian, Scotland, EH53 0TH Role RESIGNED Secretary Appointed on 5 January 2016 Resigned on 8 September 2022
GOURDIE, Pauline Correspondence address Fairmont House, 21 Oakbank Park Way, Eh482tw, Livingston, West Lothian, Scotland, EH53 0TH Role RESIGNED Director Date of birth July 1971 Appointed on 5 January 2016 Resigned on 8 September 2022 Nationality British Country of residence United States Occupation Director
MACKENZIE, Ian Robert Correspondence address Hollytrees, 2 Culver Park Close, Kingsbridge, Devon, England, TQ7 1LD Role RESIGNED Director Date of birth August 1968 Appointed on 9 June 2022 Resigned on 15 February 2023 Nationality British Country of residence England Occupation Company Director
