Pioneer Power Launches New Modular, E-Bloc Charge Port Series And Immediately Books Initial Orders Valued At More Than $2M
Portfolio Pulse from Benzinga Newsdesk
Pioneer Power Solutions, Inc. (PPSI) has launched its new E-Bloc Charge Port series, receiving initial orders valued at over $2 million. The E-Bloc series, designed for EV charging stations, is expected to expand Pioneer's market opportunity by more than $1.5 billion. The company anticipates delivering these orders in Q2 2024. The E-Bloc Charge Port series is approved by Southern California Edison for California's 'Charge Ready' program and is highlighted for its flexibility, scalability, and rugged design. Pioneer's CEO, Nathan Mazurek, sees this as a significant growth opportunity, especially with California's mandate to install 100,000 charge ports in the next 3-5 years.
February 08, 2024 | 1:34 pm
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Pioneer Power Solutions, Inc. has launched a new E-Bloc Charge Port series for EV charging stations, receiving over $2 million in initial orders. This launch is expected to significantly expand the company's market opportunity and aligns with California's environmental mandates.
The launch of the E-Bloc Charge Port series by PPSI and the immediate booking of over $2 million in orders represent a significant development for the company. This move not only expands Pioneer's product line but also positions it favorably within the rapidly growing EV charging market, especially in California where environmental mandates are driving demand for such technologies. The approval by Southern California Edison and the alignment with California's 'Charge Ready' program further underscore the potential for increased sales and market penetration, making this a positive development for PPSI's short-term financial outlook.
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