Pioneer Power Solutions, Inc. - Company Summary

Business Overview

• Core Activities: Designs, manufactures, services, and sells distributed energy resources, on-site power generation equipment, and mobile electric vehicle (EV) charging solutions.
• Markets Served: Utility, industrial, and commercial customers across the United States.
• Customer Base: Over 875 individual customers, including government entities, package delivery businesses, school bus fleet operators, EV infrastructure developers and owners, distributed energy developers.
• Headquarters: Fort Lee, New Jersey.
• Additional Operations: Two other US locations for manufacturing, service, maintenance, engineering, and sales.

Business Segments

• Current Segment: Critical Power Solutions (following the sale of the Electrical Infrastructure segment in October 2024).
• Critical Power Offerings:
  • Mobile EV Charging Solutions:
    • e-Boost G.O.A.T.: Truck-mounted high-capacity charger for EV trucks/cars, available at convenient locations.
    • e-Boost Mobile: Trailer-mounted, relocatable mobile EV chargers for events or specific businesses.
    • e-Boost Pod: Stationary EV charger with high capacity, also acts as emergency backup power with onboard outlets.
  • Power Generation Equipment:
    • Engine-generator sets (up to 2 MW), sourced from various manufacturers, installed by licensed technicians.
    • Units available in single or multi-unit configurations with fuel options including liquid propane, natural gas, diesel, and bi-fuel.
    • Uninterruptible Power Supply (UPS) systems.
  • Services:
    • Preventative maintenance, repairs, remote monitoring.
    • Service programs designed for power systems’ reliability at facilities like major retailers, hospitals, data centers, military sites, etc.
    • Regional (Midwest, Florida) and national coverage via technicians and partner networks.
    • Contract lengths: Typically 1-5 years, providing recurring revenue.

Revenue and Financials

• 2024 Revenue: Approximately $22.88 million (primarily from the Critical Power segment).
• 2023 Revenue: Approximately $11.12 million.
• Revenue Growth: 105.8% increase driven by increased shipments and rentals of EV charging systems (e-Boost).
• Net Loss from Continuing Operations 2024: About $3.35 million.
• 2024 Income from Discontinued Operations: $35.20 million, primarily from sale of the Electrical Infrastructure segment.
• Number of Employees: 60 (59 full-time, 1 part-time as of December 31, 2024).
• Market Capitalization (as of June 28, 2024): Approx. $34 million (market value based on Nasdaq stock price).
• Share Count: 11,120,266 shares outstanding as of April 11, 2025.
• Stock Price (April 11, 2025): $2.53 per share.

Strategic and Market Focus

• Targets markets with demand for reliable power and EV charging infrastructure.
• Focuses on operating efficiencies, new product development, market penetration, and customer service.
• Actively markets preventative maintenance services to national accounts, including retailers, data centers, healthcare facilities.
• Commercial EV infrastructure growth due to rising EV adoption and global investments in charging networks.

Summary

Pioneer Power Solutions, Inc. specializes in critical power and EV charging solutions, serving utility, industrial, and commercial customers in the U.S. and Canada. It has a diverse product suite including mobile and stationary EV chargers, power generation systems, and related services. The company has approximately 875 customers, 60 employees, and generated nearly $23 million in revenue in 2024, with a significant net income from discontinued operations due to recent asset sales.