Pioneer Power Solutions, Inc. (PPSI) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

This time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. Allow me to introduce your host, Brett Moss of Hayden IR. Thank you. You may begin. Thank you, operator. The call today will be hosted by Nathan Masaryk, Chairman and Chief Executive Officer, Walter Michalik, Chief Financial Officer, and Gio Marikian, President of Pioneer Power eMobility. Following this discussion, there'll be a Q&A session over the participants on the call. We appreciate the opportunity to review the fourth quarter financial results and recent business highlights. Before we get started, let me remind you this call is being recorded in webcast. During the call, management may have made forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to the cautionary text regarding forward-looking statements contained in the earnings release issued earlier today. It applies to the content of this call. I'd like to now turn the call over to Nathan Masaryk, Chairman and CEO. Nathan, please go ahead. Thank you, Brett. Good afternoon, and thank you all for joining us today. 2024 was a watershed year for our business. In the fourth quarter, we sold our pioneer custom electrical products unit, PCEP, including the e-block integrated power system to Millpoint Capital for $50 million in cash and equity. Sales Consideration was comprised of the cash payment to Pioneer of $48 million and an approximately 6% stake in Millpoint's new Volteris energy transition pla...