Business
Pioneer Power Reveals Burgeoning Backlog with New Order in Excess of $1 Million for Distributed Generation
Accelerating Installations at Stores with Mass Market Retailer Seen FORT LEE, N.J., April 14, 2021 /PRNewswire/ -- Pioneer Power Solutions, Inc. (Nasdaq:
About this update from Pioneer Power Solutions, Inc.
[{"type":"text","content":"Accelerating Installations at Stores with Mass Market Retailer Seen\n\n\nFORT LEE, N.J., April 14, 2021 /PRNewswire/ -- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (\"Pioneer Power\" or the \"Company\"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that it is increasing its product footprint with one of the world's largest mass-market retailers with a new equipment order valued at approximately $1.1 million. \nThe Company will integrate and support a custom turnkey system consisting of Automatic Transfer Switches, specialty controls and circuit protective equipment for an additional 15 retail store locations. The order, which was sold through the Company's channel partner CleanSpark, Inc. (Nasdaq: CLSK), is expected be delivered by year end 2021. The increase in the number of stores portends bigger and faster rollouts out to 2022 and beyond. Pioneer's products have already been installed at 40 of said retailers store locations.\nThe backlog of orders at the Company's Transmission & Distribution Solutions (\"T&D Solutions\") business segment increased approximately 34% from $7.6 million at March 31, 2020 compared to $10.2 million at March 31, 2021, most of which is expected to be delivered over the next 12 months.\nNathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, \"This order directly follows the successful pilot and initial order for this end customer from earlier this year that is on schedule to be delivered over the next two quarters. Importantly, it reinforces our optimism for a record sales year for our T&D Solutions segment and the prospects for a nationwide rollout at additional store locations for this one retailer. As one of the leading retail enterprises increasingly adopts distributed generation, we see an expanding market as other retailers and enterprises follow.\"\nAbout Pioneer Power Solutions, Inc. \nPioneer Power Solutions, Inc. 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. The Company's principal products include switchgear and engine-generator controls, complemented by a national field-service network to main...