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Pioneer Power Solutions Gets $12 Million Order For E-Bloc Product  -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Pioneer Power Solutions (NASDAQ:) has received a significant order worth $12 million for its E-Bloc product from “one of the world’s largest mass merchandisers,” the electric power systems company said Tuesday. 

PPSI stock prices have risen 16% in the wake of this news. The stock rose to an all-time high of $9.60 per share. This is in addition to the recent gains that it has experienced following a 200% increase in shares after it launched its EV charging products. Reddit also frequently mentions it.

The initial order is anticipated to double sales in the company’s T&D Solutions segment in 2022. This deal covers 62 Eloc units. It is part of an E-Bloc program in which the retailer expects to outfit around 500 stores using the product.

PPSI is a distributor of EV-charging products and switchgear to various markets. The company’s E-Bloc technology improves power installations by allowing multiple distributed energy resources to be combined into one integrated package.

Pioneer’s CEO Nathan Mazurek said, “This order represents a significant milestone for Pioneer’s history”

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