Expands Placements in Utilities and Transportation Verticals
Pioneer Power Solutions, Inc. (NASDAQ:PPSI) (“Pioneer”, “Pioneer Power” or the “Company”), a leader in the design, manufacture, service and integration of electrical power systems, distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions, today announced that it has received three new orders valued at $3.1 million in the aggregate for its e-Boost mobile electric charging solutions. With these orders and the current backlog, the Pioneer e-Mobility business unit is expected to deliver a record number of mobile off-grid EV charging solutions in 2024 that will significantly contribute to the revenue and operating margin of Pioneer Power Solutions in 2024.
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The Company expects to deliver and install these orders beginning in the first quarter of 2024.
“These orders, valued at $3.1 million in the aggregate, reflect the continued acceleration we are experiencing in the adoption of our e-Boost solutions,” commented Geo Murickan, head of Pioneer Power’s e-Mobility business. “These orders are of particular significance for two reasons. First, two are from new customers and one is a re-order from an existing customer who has already experienced the benefits of our e-Boost solution.
“Secondly, each customer chose a different e-Boost platform – Pod, Mobile and Mini, for the application that best suits its needs. We believe this reflects the breadth and versatility of the e-Boost solutions. Each of these customers considered various options and, in the end, selected e-Boost given our proven capabilities in delivering a solution that meets their EV transition timeline with the most sustainable and energy dense solution that is also economically viable.”
