Benzinga | Nov 9, 2021 10:48AM EST

Why Pioneer Power Solutions Stock Is Soaring Today

Pioneer Power Solutions Inc (NASDAQ:PPSI) is surging higher Monday after the company announced the launch of its E-Boost portfolio of mobile electric vehicle charging solutions for a full range of applications.

The company's E-Boost portfolio is initially comprised of three products:

* E-Boost G.O.A.T. (generator on a truck) is a truck-mounted option that brings ultimate mobility with high-capacity EV charging.

* E-Boost Mobile is a trailer-mounted solution that balances the need for mobility and higher capacity of EV charging such that the solution can be relocated with minimal effort on short notice.

* E-Boost Pod is a stationary EV charging solution with customizable higher capacity and can be moved, if necessary.

"We are anticipating the rapidly growing demand for high-capacity mobile charging that will be required to support the wide range of EV and mobile power use cases with E-Boost products. The launch of these new offerings further advances our strategic shift towards the growing, multi-billion dollar market opportunity in Electrical Vehicle Charging (EVC)," said Nathan Mazurek, chairman and CEO of Pioneer Power Solutions.

Pioneer Power Solutions manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets.

PPSI Price Action: Pioneer Power Solutions has traded as high as $11.50 and as low as $2.46 over a 52-week period.

The stock was up 88.30% at $6.12 at time of publication.