Continues to make an impact in the municipal fleet market
Pioneer Power Solutions, Inc. (NASDAQ:PPSI) ("Pioneer" or the "Company"), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle ("EV") charging solutions, today announced it has received an order valued at $1.3 million from the City of Portland, Oregon ("Portland") for multiple e-Boost Mobile units through Graybar Electric ("Graybar"), a leading national electrical distribution company, as part of Graybar's OMNIA Partners program.
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e-Boost Mobile ‘Open Flex' featuring 175kW power unit with one 120kW Level 3 fast charger, four 15.3kW Level 2 chargers and a grid-tie transfer switch (Photo: Business Wire)
This order is expected to be delivered in the second quarter of 2025.
The model chosen by Portland is the e-Boost Mobile ‘Open Flex' which features a 175kW power unit with one 120kW Level 3 fast charger, four 15.3kW Level 2 chargers and a grid-tie transfer switch. We believe that e-Boost is a charging solution that is flexible enough to address Portland's immediate fleet electrification needs and is a charging solution that can grow and adapt with Portland's longer-term electrification goals. The e-Boost Mobile ‘Open Flex' delivers three distinct advantages for Portland's fleet electrification needs:
- It can be deployed immediately to charge vehicles and equipment at Portland's fleet yard while waiting for grid power infrastructure upgrades.
- The e-Boost unit can be mobilized to Portland's more remote service locations and charge the vehicles wherever and whenever needed, without depending on grid connectivity.
- The e-Boost unit can plug into the grid connection at Portland's fleet yard when it becomes available in the future through the built-in transfer switch, while still maintaining the on-demand power feature in case of outages or for peak demand shaving needs.
Geo Murickan, head of Pioneer eMobility, commented, "We are starting off strong in 2025 with this new order from a new customer for our e-Boost Mobile model. Municipalities across the nation are challenged with electrifying their fleets while contending with grid gap or grid capacity constraints, and we anticipate that our e-Boost suite of products will successfully fill that need."
Murickan added, "Mobility is key for Portland, and we believe that it needs solutions that can support its growing electrified fleets and meet the charging requirements at its vehicle depot where available power may be limited and also at various remote locations where there may be no charging capabilities at all."
This order adds to the existing robust backlog for e-Boost products in 2025 and serves as a sharp reminder that electrification for municipalities is not limited to metro areas but is also needed in more remote areas as well. Municipalities across the country are ramping up EV fleet deployments in 2025, and e-Boost is well positioned to meet these needs with a dynamic set of solutions with one of the shortest lead times for fleet electrification in the industry.
About Pioneer Power Solutions, Inc.
Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electric power systems, distributed energy resources, power generation equipment and mobile EV charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to successfully operate its business after the divestiture of its E-Bloc business, (ii) the Company's ability to successfully increase its revenue and profit in the future, (iii) general economic conditions and their effect on demand for electrical equipment, (iv) the effects of fluctuations in the Company's operating results, (v) the fact that many of the Company's competitors are better established and have significantly greater resources than the Company, (vi) the Company's dependence on two customers for a large portion of its business, (vii) the potential loss or departure of key personnel, (viii) unanticipated increases in raw material prices or disruptions in supply, (ix) the Company's ability to realize revenue reported in the Company's backlog, (x) future labor disputes, (xi) changes in government regulations, (xii) the liquidity and trading volume of the Company's common stock, (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xiv) risks associated with litigation and claims, which could impact our financial results and condition, and (xv) the Company's ability to maintain compliance with the continued listing requirements of the Nasdaq Capital Market.
More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
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