Company: TOGIW
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001214659-25-006296
Chunk: 11

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1
Chunk 11
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 solutions industry includes many companies located throughout the world. Many of our competitors, including Bel
Fuse, Artesyn Embedded Technologies, TDK-Lambda, Delta Electronics, Murata and Mean-Well Power Supplies, have greater fiscal and marketing
resources and a more expansive geographic presence than we do. We also face competition from current and prospective customers who may
decide to internally design, and manufacture power supplies needed for their products. Further, certain larger OEMs tend to contract
only with larger power supply manufacturers. We believe that our power system solutions and advanced technology are superior to our competitors’
power supplies based in part on our use of the latest power technology processing and controls, which make our power supplies highly customized
and efficient. In addition, we believe the power-to-volume ratio makes our power solutions more compact compared to what is offered by
our competitors and is suitable for custom infrastructures to meet our customers’ requirements.

   7  

Notably, the flexibility
of our power system products provides us with another advantage by employing an adjustable power range and a selectable number of output
product design platforms. We believe that we are in a competitive position with our targeted customers that need a high-quality, compact
product that can be readily modified to meet specific requirements. We have also designed the base model power system platform so
that it can be quickly and economically modified and adapted to the specific power needs of any hosting platform or OEM. This emphasis
on flexibility has allowed us to provide samples of modified power systems to OEM customers only a few days after initial consultation.
This is an important capability given the emphasis placed by OEMs on “time to market.” It also results in very low NRE expenses,
which allow us generally not to charge our OEM customers for NRE expenses related to tailoring a power system to a customer’s specific
requirements. We believe that this approach gives us an additional advantage over our competitors, many of which charge their customers
for NRE expenses.

Electrical Vehicle
Supply Equipment and Network Segment. Our EVSE business segment competes directly with several companies in the North American
market. We expect to face competition across multiple verticals in the future as demand for EVSE increases. The EV charging market has
grown significantly over the past five years and can be divided into the three following macro segments:

  Public open network Level 2 and DCFC charging;  

  Commercial fleet closed network charging; and  

  Residential single and multi-family home charging.  

Growth in the North American
market has