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Benzinga
Benzinga
Business
Akanksha Bakshi

Pioneer Power Stock Skyrockets On $12M Order For E-Bloc Product

  • Pioneer Power Solutions, Inc. (NASDAQ:PPSI) has received an initial order of ~$12 million from an undisclosed mass merchandiser for its E-Bloc product.
  • The award represents 62 E-Bloc units and is part of a proposed program whereby the merchandiser expects to eventually equip ~500 of its stores with E-Bloc type product.
  • The company expects the order to double sales in its T&D Solutions business in FY22. 
  • "We are building on the success demonstrated with several pilot orders for this customer and others throughout the second half of 2021," commented Nathan Mazurek, Pioneer's Chairman and CEO.
  • Price Action: PPSI shares are trading higher by 36.9% at $9.68 during the premarket session on Tuesday.
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