Pioneer Power Solutions Stock (PPSI ): Why The Price Surged Today

By Amit Chowdhry ● Dec 21, 2021
  • The stock price of Pioneer Power Solutions, Inc. (NASDAQ: PPSI ) increased by over 25% during intraday trading today. This is why it happened.

The stock price of Pioneer Power Solutions, Inc. (NASDAQ: PPSI ) – a leader in the design, manufacture, and integration of electric power systems and service, including on-site power, circuit protective, and control power solutions – increased by over 25% during intraday trading today. Investors are responding positively to Pioneer Power Solutions announcing a significant order for its E-Bloc product. 

This initial order – valued at approximately $12 million – is expected to double sales in Pioneer’s T&D Solutions business in 2022. And this award represents 62 E-Bloc units and is part of a proposed program whereby the mass merchandiser expects to ultimately equip about 500 of its stores with E-Bloc type product.

Pioneer’s E-Bloc design improves the power installation by providing the flexibility to combine a wide variety of distributed energy resources in a compact, integrated package. And E-Bloc provides all the connectivity to install EV charging and power sources while speeding up installation and minimizing disruption to operations. Solutions are available for both Low and Medium-voltage applications. In many cases, E-Bloc also bypasses the need to coordinate installation with local utilities, dramatically reducing installation times and cost.

KEY QUOTES:

“This program affirms our strategic decision to pivot Pioneer to address the increasing demands on electric grids. We are building on the success demonstrated with several pilot orders for this customer and others throughout the second half of 2021.”

“This order marks a significant milestone in Pioneer’s history and reinforces our optimism for additional opportunities that we believe will drive rapid revenue growth for the next several years. The entire Pioneer team is to be congratulated on their efforts in designing, manufacturing and bringing our E-Bloc solution to successful commercialization in such a short time. Owners of commercial and industrial facilities across many verticals are moving quickly to upgrade their electrical infrastructure in order to fail-proof their access to power, accommodate solar power, energy storage, backup power and prepare for the installation of EV-charging. We expect that these demand drivers will create a robust addressable market for our products well into the foreseeable future.”

— Nathan Mazurek, Pioneer’s Chairman, and Chief Executive Officer

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.