Pioneer Power Bags $8M Order For Its E-Bloc Electrical Solution

Pioneer Power Solutions Inc PPSI has secured an $8 million purchase order from an automaker for its flagship E-Bloc electrical solution.
The automaker's recently launched division devoted to batteries and EV manufacturing awarded the purchase order.
The specified equipment is related to the initial powering of the automaker's new EV campus.
E-Bloc's design enables seamless, safe, and reliable control and protection and delivery of multiple sources of power, including green energy.
Delivery is expected to happen in the third quarter of 2023. With the order, Pioneer's project backlog has surpassed $35 million.
"This is an important win for Pioneer, as our solutions were selected in a competitive bidding process across a field that included much larger players," said Chairman and CEO Nathan Mazurek.
Price Action: PPSI shares are trading higher by 4.78% at $2.63 on the last check Wednesday.