Pioneer Power Solutions Secures $10M CaaS Award, Shares Rise 5%

Pioneer Power Solutions has secured a $10 million multi-year e-boost award from a major US charging-as-a-Service company. The company expects to deliver approximately $2 million of equipment in 2025, with the remaining value of the award to be fulfilled in subsequent years. This news has driven Pioneer Power's shares up nearly 5%.

Pioneer Power Solutions (PPSI) has announced a significant milestone with the securing of a $10 million multi-year e-Boost award from the largest U.S. charging-as-a-Service company (CaaS). The award, valued at approximately $10 million, will see PPSI deliver approximately $2 million worth of equipment in 2025, with the remaining value of the award expected to be completed in 2026 and 2027 [1].

The e-Boost solutions from PPSI enable fast, mobile electric vehicle (EV) charging in locations where grid access is delayed, limited, unreliable, or unavailable. This award not only validates the strength of PPSI's e-Boost technology and supply chain management but also underscores the company's rapid execution capabilities [2].

The initial completion of this award is slated to commence in Q2 2025 and ramp up throughout 2026 and 2027. This award marks a significant expansion for the CaaS company, building on its existing presence in 30 US metro markets and extending into new US markets, as well as strategic opportunities in Canada and Mexico [3].

Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, and service of distributed energy resources, power generation equipment, and mobile electric charging solutions for applications in the utility, industrial, and commercial markets. The company's e-Boost portfolio has established itself as the market leader, delivering mobile, off-grid charging solutions with unparalleled lead times and an extensive range of platforms [3].

This news has driven Pioneer Power's shares up nearly 5%, currently trading at $2.7497 [1]. The award further supports PPSI's growth strategy and its commitment to accelerating the adoption of clean, on-demand energy solutions in the EV space.

References:
[1] https://seekingalpha.com/news/4461731-pioneer-power-secures-10-million-multi-year-e-boost-award-shares-up-nearly-5
[2] https://www.tipranks.com/news/the-fly/pioneer-power-secures-10m-order-from-charging-as-a-service-company-thefly
[3] https://www.stocktitan.net/news/PPSI/powering-ahead-pioneer-power-secures-10-million-multi-year-e-boost-aomyqizh8txt.html