Benzinga | Jan 28, 2022 11:48AM EST

Pioneer Power Pockets $788K Purchase Order For E-Boost Mobile EV Charging Solution

* Pioneer Power Solutions, Inc. (NASDAQ:PPSI) has received a $788,000 purchase order for its E-Boost mobile Electric Vehicle (EV) charging solution.

* E-Boost EV charging solutions provide flexible, mobile, and temporary EV charging at events, military deployments, car dealerships, in roadside assistance situations, or wherever needed.

* The purchase order is scheduled to be delivered during the first quarter of 2022. The mobile, trailer-mounted unit, or E-Boost Mobile, will be delivered to a Native American hotel and casino in Minnesota.

* "Industry estimates suggest that sales of EVs will grow at a compound annual growth rate (CAGR) of better than 20% through at least 2030, representing the fastest-growing segment of the automotive market," commented Nathan Mazurek, Pioneer's Chairman, and CEO.

* Price Action: PPSI shares traded higher by 4.06% at $5.09 on the last check Friday.