April 18, 2024

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Comfortable residential structure

Pioneer Energy Awarded Extra Areas by Big Household Enhancement Retailer

FORT LEE, N.J.–(Enterprise WIRE)–Pioneer Power Options, Inc. (Nasdaq: PPSI) (“Pioneer Energy” or the “Firm”), a enterprise engaged in the manufacture, sale and assistance of electrical transmission, distribution and on-internet site power generation devices, these days introduced that it has been awarded an more group of places by one of the premier residence improvement stores in the U.S. as portion of the previously declared service deal for preventative servicing and repairs at the retailer’s stores.

The award signifies a 30% expansion of the deal. Pioneer will provide scheduled generator preventative maintenance and crisis mend services for the retailer’s engine generator tools assets. The aforementioned deal is envisioned to get started in March, 2021.

Nathan Mazurek, Pioneer’s Chairman and Chief Executive Officer, reported, “In significantly less than a month considering that the preliminary deal award, the retailer has observed the positive aspects of our offering, as effectively as the benefit of sustainable backup power at their destinations. We have demonstrated the ability of our skilled professionals to offer maintenance and fix solutions throughout a broad vary of motor manufacturers and designs. We continue on to believe there are additional growth alternatives for us with this retailer, and this growth further bolsters our outlook and backlog for the calendar year.”

About Pioneer Power Methods, Inc.

Pioneer Electricity Remedies, Inc. manufactures, sells and companies a wide selection of specialty electrical transmission, distribution and on-website power era gear for purposes in the utility, industrial, commercial and backup ability marketplaces. The Company’s principal merchandise consist of switchgear and motor-generator controls, complemented by a nationwide industry-services community to maintain and fix electrical power generation property. To master extra about Pioneer, remember to visit its web-site at www.pioneerpowersolutions.com.

Harmless Harbor Assertion:

This press release includes “forward-searching statements” within the this means of the Personal Securities Litigation Reform Act of 1995, as amended. Such statements could be preceded by the terms “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or very similar phrases. Ahead-hunting statements are not guarantees of potential efficiency, are dependent on sure assumptions and are subject to several recognized and unfamiliar challenges and uncertainties, numerous of which are outside of the Company’s command, and can not be predicted or quantified and consequently, actual outcomes may possibly differ materially from people expressed or implied by these types of forward-on the lookout statements. This sort of dangers and uncertainties consist of, with out limitation, risks and uncertainties affiliated with (i) the Company’s ability to successfully raise its earnings and financial gain in the long run, (ii) normal economic ailments and their influence on need for electrical equipment, (iii) the outcomes of fluctuations in the Company’s working final results, (iv) the fact that a lot of of the Company’s competitors are improved founded and have appreciably higher means than the Firm, (v) the Company’s dependence on a one consumer for a big portion of its company, (vi) the likely reduction or departure of essential staff, (vii) unanticipated will increase in uncooked substance prices or disruptions in offer, (viii) the Company’s skill to notice income claimed in the Company’s backlog, (ix) foreseeable future labor disputes, (x) changes in government restrictions, (xi) the point that the Company’s chairman, who controls a the greater part of the Company’s voting power, might establish pursuits that diverge from yours, (xii) the liquidity and buying and selling quantity of the Company’s popular inventory and (xiii) an outbreak of condition, epidemic or pandemic, these types of as the world-wide coronavirus pandemic, or concern of these kinds of an party.

Much more specific facts about the Company and the chance components that may perhaps have an effect on the realization of ahead-searching statements is set forth in the Company’s filings with the Securities and Trade Fee, such as the Company’s Once-a-year and Quarterly Stories on Form 10-K and Sort 10-Q. Investors and protection holders are urged to go through these documents totally free of cost on the SEC’s net website at www.sec.gov. The Corporation assumes no obligation to publicly update or revise its forward-wanting statements as a result of new info, long run situations or normally.