Business
Pioneer Power Set to Join Russell Microcap® Index
FORT LEE, N.J.--(BUSINESS WIRE)-- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a company engaged in the manufacture, sale
About this update from Pioneer Power Solutions, Inc.
[{"type":"text","content":" FORT LEE, N.J.--(BUSINESS WIRE)--\nPioneer 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, is set to join the Russell Microcap® Index at the conclusion of the 2021 Russell indexes annual reconstitution effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.\n\nMembership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.\n\nNathan Mazurek, Pioneer Power’s Chairman and Chief Executive Officer, said, “Inclusion in the broadly referenced Russell index will bring us increased exposure to a larger audience of potential new investors. We look forward to communicating with them about our new strategic direction. Specifically, we are focusing our product and services towards speeding installation of EV charging facilities. Most sites for charging are existing structures that may not have the specialized power infrastructure for easy installation of vehicle charging stations. This is a rapidly evolving industry, and we believe our PowerBloc product and other power equipment solutions can ease the move to EV. We are eager to do our part in the move towards a zero-carbon future.”\n\nRussell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.\n\nFor more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.\n\nAbout Pioneer Power Solutions, Inc. \n\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...