Pioneer Power Awarded Pilot Project from Fortune 100 E-Commerce Retailer

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Pioneer Power Awarded Pilot Project from Fortune 100 E-Commerce Retailer

2024-12-03 22:06 Last Updated At：22:11

FORT LEE, N.J.--(BUSINESS WIRE)--Dec 3, 2024--

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer” or the “Company”), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions, today announced a groundbreaking pilot program with a Fortune 100 e-commerce retailer to specifically tackle the “grid gap” challenge between the increasing power needs of its electric delivery fleet and the limited amount of grid supplied power at its depots.

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As part of the pilot program, the Company will provide multiple e-Boost mobile charging units and will also service and monitor the units for several months for a simple, all-inclusive, monthly fee.

This initiative will deploy Pioneer's e-Boost mobile EV charging solutions at one of the retailer’s major Last Mile Delivery (“LMD”) depots in the Midwest, addressing its critical challenge of fast charging an increasing number of electric vans and trucks while balancing limited power delivery from major utilities. By providing a scalable, power dense and sustainable solution, Pioneer aims to enable the widespread adoption of EVs in LMD fleets nationwide.

The pilot's primary objective is to gather data on the practicality and effectiveness of e-Boost in supporting the increasing EV charging demands. The e-commerce retailer plans to ascertain, coalesce and analyze enough data to substantiate deploying more e-Boost solutions in all the major metros that it serves. This collaboration is expected to form an integral part of the retailer’s plan to address its growing charging needs at LMD depots across the United States.

Nathan Mazurek, Chairman and CEO of Pioneer, commented, “This pilot project showcases our commitment to innovation and sustainability in the LMD sector. By building off of this initiative, we aim to continue pushing the boundaries of what is possible in carbon-free truck and van adoption, while expanding our e-Boost platform and providing new near zero-carbon charging solutions.”

For the pilot, Pioneer is providing an e-Boost Mobile Max, a trailer-based solution that has up to 240kW of Level 3 charging available on board for charging EVs for heavy-duty semi-trucks along with two separate Level 2 chargers for overnight charging of EV delivery vans.

Geo Murickan, President of Pioneer eMobility, added, “e-Boost is driving the transition to a net-zero future with our sustainable, low-carbon propane-powered EV charging solutions. We’re delighted to work with this leading global e-commerce retailer on this innovative pilot project. When scaled successfully, this could provide new ways for the retailer to rapidly advance sustainability for the fleet management companies it works with.”

The Company believes that e-Boost is continuing to bring more innovative solutions to the mobile EV charging market. In 2024, Pioneer deployed products from all four of e-Boost’s current platforms; Mini, Mobile, Pod and G.O.A.T. In 2025, e-Boost is expected to scale additional platforms including solutions that specifically address the residential market, HOMe-Boost, the new, hybrid battery-interface solutions with SparkCharge, Inc. and the rapidly growing microgrid market.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electric power systems, distributed energy resources, power generation equipment and mobile electric charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

e-Boost is Pioneer’s portfolio of smart, mobile EV charging solutions. The Company has been aggressively marketing e-Boost to electric bus and truck manufacturers, fleet management companies, municipalities and EV infrastructure providers since its initial launch in November 2021.

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the federal securities laws. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully operate its business after the divestiture of its E-Bloc business, (ii) the Company’s ability to successfully increase its revenue and profit in the future, (iii) general economic conditions and their effect on demand for electrical equipment, (iv) the effects of fluctuations in the Company’s operating results, (v) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (vi) the Company’s dependence on two customers for a large portion of its business, (vii) the potential loss or departure of key personnel, (viii) unanticipated increases in raw material prices or disruptions in supply, (ix) the Company’s ability to realize revenue reported in the Company’s backlog, (x) future labor disputes, (xi) changes in government regulations, (xii) the liquidity and trading volume of the Company’s common stock, (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xiv) risks associated with litigation and claims, which could impact our financial results and condition, and (xv) the Company’s ability to maintain compliance with the continued listing requirements of the Nasdaq Capital Market.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Princess of Wales joins royals as Qatari state visit to the UK starts

2024-12-04 10:13 Last Updated At：10:20

LONDON (AP) — The Princess of Wales helped kick off the emir of Qatar’s trip to Britain on Tuesday as the U.K. government enlists one of the most popular royals to ensure the success of a state visit by the leader of a key ally, even as the princess recovers from cancer treatment.

The event will be just one of a handful of appearances that Prince William’s wife, better known as Kate, has made since she was diagnosed with cancer in March, underscoring the importance of the gas-rich gulf state that invests billions in Britain and has played a central role in ceasefire talks between Israel and Hamas.

William and Kate greeted Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in the morning. The couples then traveled to Horse Guards Parade in central London, where King Charles III formally welcomed the emir and Sheikha Jawaher to Britain at the start of a two-day visit that will include a trip to Westminster Abbey, a banquet at Buckingham Palace and a meeting with Prime Minister Keir Starmer.

Queen Camilla, who pulled out of Tuesday's chilly outdoor events on medical advice, told guests at a palace lunch that she had suffered from a lingering chest infection that was a form of pneumonia, Britain's Press Association reported. She added that she no longer has pneumonia, but was suffering from post-viral fatigue.

Though smaller than the U.S. state of Connecticut, Qatar has the world’s third-largest reserves of natural gas and is a key investor in the U.K. The Qatari Investment Authority owns the luxury retailer Harrod’s and holds large stakes in British companies such as Barclays Bank and the supermarket chain Sainsbury’s. It has also invested heavily in London real estate, including the Shard, western Europe’s tallest building.

But the display of pomp being rolled out for the emir sits uneasily with human rights advocates who say women and LGBTQ+ people face discrimination in Qatar, and migrant workers still haven’t been compensated for “egregious abuses” that occurred during preparations for the 2022 soccer World Cup.

“Hosting the royal visit without addressing these issues is tantamount to royal-washing Qatar’s troubling rights record,” said Yasmine Ahmed, U.K. director of Human Rights Watch.

The state visit comes at the end of a difficult year for Britain’s royal family.

The king was sidelined for two months after it was announced in February that he had been diagnosed with an undisclosed form of cancer. Just a few weeks later, Kate made public her own cancer diagnosis and said that she, too, would be stepping away from public duties to focus on her treatment and recovery.

While Charles returned to public duties at the end of April, Kate needed more time and her return has been slower.

The princess has made only a few public appearances this year, mostly at moments of national significance. They included the king’s annual birthday parade in June and the men’s final at Wimbledon in July. Most recently, she took part in the annual Remembrance Day ceremonies in November to honor the nation’s war dead.

The princess announced in September that she had completed chemotherapy treatment.

One reason the government and royal family may have asked Kate and William to play a major role in the Qatari state visit is because they have a lot in common with the emir.

All three are in their early 40s and were educated at elite British prep schools. The emir and William are both graduates of the Royal Military Academy at Sandhurst, with the emir going on to serve in the Qatari military and William serving in both the British Army and Royal Air Force.

Kate and William will join the Qatari royals and the king and queen for a carriage procession to Buckingham Palace.

After lunch at the palace, the emir and Sheikha Jawaher will visit Westminster Abbey and the Houses of Parliament.

Later in the day, the king and queen will host a state banquet at Buckingham Palace.

On Wednesday, the emir will visit Sandhurst, meeting with some of his former classmates and current Qatari cadets. He will also meet with RAF personnel who are providing advanced training for Qatari air force pilots.

The emir will then travel to the prime minister’s residence at 10 Downing Street for his meeting with Starmer.

Find more of AP’s coverage at https://apnews.com/hub/royalty