- Pioneer Power Solutions Inc (NASDAQ:PPSI) has secured an $8 million purchase order from an automaker for its flagship E-Bloc electrical solution.
- The automaker’s recently launched division devoted to batteries and EV manufacturing awarded the purchase order.
- The specified equipment is related to the initial powering of the automaker’s new EV campus.
- E-Bloc’s design enables seamless, safe, and reliable control and protection and delivery of multiple sources of power, including green energy.
- Delivery is expected to happen in the third quarter of 2023. With the order, Pioneer’s project backlog has surpassed $35 million.
- “This is an important win for Pioneer, as our solutions were selected in a competitive bidding process across a field that included much larger players,” said Chairman and CEO Nathan Mazurek.
- Price Action: PPSI shares are trading higher by 4.78% at $2.63 on the last check Wednesday.
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