Benzinga | Dec 21, 2021 08:02AM EST

Pioneer Power Wins $12M Order For Its E-Bloc Product With Unnamed Large Mass Merchandiser

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) ("Pioneer" "Pioneer Power" or the "Company"), a leader in the design, manufacture and integration of electric power systems and service, including on site power, circuit protective and control power solutions, today announced a significant order for its E-Bloc product. This initial order, valued at approximately $12 million, is expected to double sales in Pioneer's T&D Solutions business in 2022. Specifically, this award represents 62 E-Bloc units and is part of a proposed program whereby the mass merchandiser expects to ultimately equip approximately 500 of its stores with E-Bloc type product.

Pioneer's E-Bloc design improves power installation by providing the flexibility to combine a wide variety of distributed energy resources in a compact, integrated package. E-Bloc provides all the connectivity to install EV charging and power sources while speeding up installation and minimizing disruption to operations. Solutions are available for both Low and Medium-voltage applications. In many cases, E-Bloc also bypasses the need to coordinate installation with local utilities, dramatically reducing installation times and cost.

"This program affirms our strategic decision to pivot Pioneer to address the increasing demands on electric grids," commented Nathan Mazurek, Pioneer's Chairman, and Chief Executive Officer. "We are building on the success demonstrated with several pilot orders for this customer and others throughout the second half of 2021."

Mazurek continued, "This order marks a significant milestone in Pioneer's history and reinforces our optimism for additional opportunities that we believe will drive rapid revenue growth for the next several years. The entire Pioneer team is to be congratulated on their efforts in designing, manufacturing and bringing our E-Bloc solution to successful commercialization in such a short time. Owners of commercial and industrial facilities across many verticals are moving quickly to upgrade their electrical infrastructure in order to fail-proof their access to power, accommodate solar power, energy storage, backup power and prepare for the installation of EV-charging. We expect that these demand drivers will create a robust addressable market for our products well into the foreseeable future."

To learn more about Pioneer Power's E-Bloc solution, please contact E-BlocSales1@pioneerpowersolutions.com