Pioneer Power Launches New Modular, E-Bloc Charge Port Series and Immediately Books Initial Orders Valued at More Than $2 Million
08 Febrero 2024 - 7:30AM
Business Wire
New Series E-Bloc Expands Market Opportunity by
More Than $1.5 Billion
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer”
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 launched its
new E-Bloc Charge Port series and immediately received initial
purchase orders valued at more than $2 million dollars.
The Company expects to deliver the initial orders during the
second quarter of 2024.
E-Bloc Charge Port Series
Nathan Mazurek, CEO of Pioneer, commented, “Our newly launched
E-Bloc Charge Port series was developed and engineered to protect
the electrical integrity of chargers and related equipment to
support the roll out of EV charging stations. The modular E-Bloc
Charge Port units provide enhanced performance and improve
flexibility for site-specific power distribution needs regardless
of the combination of distribution feeder breakers required. The
E-Bloc Charge Port design is inherently flexible, highly scalable
and smartly packaged - key differentiators in the marketplace.
Pioneer is one of two suppliers currently approved by Southern
California Edison with regards to the state of California’s
('CPUC') mandated 'Charge Ready' program initiative and our E-Bloc
Charge Port series is the only commercially available solution with
the flexibility of use for the variety of settings required. The
initial purchase orders of more than $2 million dollars advance our
2024 growth objectives and we anticipate this to be a meaningful
opportunity to rapidly increase E-Bloc unit sales.”
Market Opportunity
Speaking on the market opportunity, Mazurek continued, “We
expect the state of California’s approach to addressing mandated
environmental standards and the implementation of our E-Bloc Charge
Port focused series will gain nationwide attention and drive
further increases in demand. Given the state’s mandate to provide
upwards of 100,000 charge ports over the next three to five years,
there is a substantive opportunity to grow this new business
product line.”
Key Features and Expected Benefits of the E-Bloc Charge Port
Series
Smartly Engineered and Packaged -
Pioneer, with its in-depth experience in installing over 1,000
E-Bloc units, developed a new, slimmer form factor, which is built
on past design considerations and customer demand and feedback. The
E-Bloc Port Charge series was engineered with an efficient design
that is scalable, modular and meets SCE’s Electrical Service
Requirements (ESR).
Flexible - Using new technology, the
E-Bloc Charge Port series can provide a range of amperes for an
electrical system’s amperage ranging from 1200 to 4000.
Ruggedized - The E-Bloc Charge Port
series withstands power surges and is outdoor rated to stand up to
inclement weather as well as severe heat to provide California EV
charging customers fault-free EV charges where and when they are
needed.
Easy Installation - Utilizing the
Company’s new “Bus” technology, the E-Bloc Charge Port series
encompasses a small footprint and is designed for "plug and play”
installation applying simple tools and requiring no additional
training for qualified installers.
For additional information about the E-Bloc Charge Port series,
please visit https://www.pioneerpowersolutions.com/contact/ or
contact Jay Johnson at Quotes@pioneercep.com.
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 electric 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 federal securities laws. 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 commercial success of the Company’s new
E-Bloc Charge Port series, (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, and (xiv) risks associated with litigation and claims,
which could impact our financial results and condition.
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 U.S. Securities and
Exchange Commission (“SEC”), 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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version on businesswire.com: https://www.businesswire.com/news/home/20240208805764/en/
Brett Maas, Managing Partner Hayden IR (646) 536-7331
brett@haydenir.com
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