Pioneer Power Solutions surges premarket on $12 mln order

Pioneer Power Solutions

21/12/2021 13:49

** Shares of the heavy electrical equipment maker  PPSI.O 
up 44.82% at $10.21 in premarket trade
    ** Pioneer Power announces $12 mln order from a mass
merchandiser for PPSI's "E-Bloc" product  urn:newsml:reuters.com:*:nPnbhMmRSa
    ** The initial order is expected to double sales in
Pioneer's T&D Solutions business (transmission and distribution)
in 2022
    ** Co says E-Bloc provides all the connectivity to install
EV (electric vehicle) charging and power sources while speeding
up installation and minimizing disruption to operations
    ** This award represents 62 E-Bloc units and is part of a
proposed program whereby the mass merchandiser expects to
ultimately equip approximately 500 of its stores with E-Bloc
type product - PPSI
    ** PPSI stock up 86.8% YTD 

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))