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Polar Power, Inc. - POLA STOCK NEWS

Welcome to our dedicated page for Polar Power news (Ticker: POLA), a resource for investors and traders seeking the latest updates and insights on Polar Power stock.

Polar Power, Inc. (NASDAQ: POLA) specializes in the design, manufacture, and sale of DC power generators, renewable energy systems, and cooling solutions. With a strong focus on the telecommunications market, their product range includes DC generators, back-up DC generators, hybrid power systems, Li-Ion battery systems, and marine DC generators. These products are integral to various industries, including military, electric vehicle, marine, and industrial sectors.

Polar Power, Inc. stands out due to its comprehensive service offerings, which encompass product design, development, system integration, and engineering support. This approach ensures that clients receive end-to-end solutions tailored to their specific needs. The company’s global presence spans the United States, Canada, Mexico, South Pacific Islands, Japan, Europe, the Middle East, and other Asia-Pacific countries.

Recent achievements and ongoing projects highlight Polar Power's commitment to innovation and growth. The company continually invests in research and development to enhance the efficiency and reliability of its power systems, thereby meeting the evolving demands of its diverse clientele.

In the latest news, Polar Power shared updates during LPG Week, emphasizing their strategic initiatives and market expansion plans. Investors can reach out to Peter Seltzberg, SVP of Investor Relations and Corporate Advisory, for more detailed insights and corporate developments.

For more information, visit their official website: www.polarpower.com.

News

Polar Power Reports Full Year and Fourth Quarter 2023 Financial Results

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Polar Power, Inc. reports financial results for 2023, with net sales of $15.3 million, gross profit of $0.7 million, and a net loss of $6.5 million. The company achieved $5.1 million in new bookings in Q1 2024 and closed a public offering of 4.6 million common shares for $1.84 million in December 2023.
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Polar Power Announces $5.1 Million in New Bookings to Date in Q1 2024

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Polar Power, Inc. announces $2.5 million in new bookings from international military and telecom customers, totaling $5.4 million for Q1 2024. This marks a 46% increase from Q1 2023. CEO Arthur Sams is optimistic about the growing trend and expects continued revenue growth throughout 2024.
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Polar Power to Participate in 36th Annual Roth Conference March 17-19, 2024

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Polar Power, Inc. announces participation in the 36th Annual Roth Conference to discuss technology and growth plans with investors.
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Polar Power Announces $2.9 Million in New Bookings During January 2024

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Polar Power, Inc. reports $2.9 million in net new bookings from Tier-1 customers in January 2024, showcasing growth potential and market demand for their unique DC backup power generation systems. The CEO highlights the company's success factors and diversification objectives, projecting confidence in financial recovery and improvement for 2024.
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United Nations High Commissioner for Refugees Awards Polar Power Initial Contract to Assure Uninterrupted Quality Electric Power for African Offices

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Polar Power, Inc. (NASDAQ: POLA) awarded a contract by UNHCR to provide a nano grid for one of its offices in Africa, showcasing the reliability and cost-effectiveness of its electric power technology.
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Polar Power, Inc. Announces Closing of Public Offering

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Polar Power, Inc. (Nasdaq: POLA) closed a public offering of 4,600,000 shares of its common stock at $0.40 per share, grossing $1,840,000. The proceeds will be used for general corporate purposes, including working capital, research and development, capital expenditures, and potential acquisitions.
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Polar Power, Inc. Announces Pricing of Public Offering

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Polar Power, Inc. (NASDAQ: POLA) announced the pricing of its underwritten public offering of 4,000,000 shares of common stock at a price of $0.40 per share, with gross proceeds of $1,600,000. The underwriters have a 45-day option to purchase up to an additional 600,000 shares. The offering is expected to close on December 5, 2023, and ThinkEquity is the sole underwriter for the offering.
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Polar Power, Inc. Announces Proposed Public Offering of Common Stock

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Polar Power, Inc. (NASDAQ: POLA) plans to offer shares of its common stock in an underwritten public offering. ThinkEquity will act as the sole underwriter for the offering. The company expects to use the net proceeds for product development, working capital, capital expenditures, operational purposes, and potential acquisitions in complementary businesses.
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POLAR POWER AWARDED FIRST PLACE FOR PRESENTATION AT THE GLOBAL TECHNOLOGY CONFERENCE DURING LPG WEEK 2023 IN ROME, ITALY

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Polar Power, Inc. (POLA) presented opportunities for immediate and large-scale distribution of LPG and natural gas along with value-added services at LPG Week 2023 in Rome, Italy. CEO Arthur Sams' presentation won first place in the Global Technology Conference, highlighting the advantages of LPG over diesel, DC vs AC generators, and the concept of combining LPG/NG with solar for sustainable electrical power. The company aims to introduce reliable and lower cost sources of fuel for electric power generators, targeting the telecom, power, and other industrial service providers.
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Polar Power Reports 12% Growth in Revenue During Third Quarter 2023 Financial Results

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Polar Power, Inc. (NASDAQ: POLA) reported financial results for Q3 2023, with net sales up 12% to $1.9 million. Operating expenses decreased by 26% and net loss for Q3 2023 decreased to $1.8 million. The company saw a 24% increase in sales to international customers and launched lower emission prime power and backup generators. Backlog as of Q3 2023 was $5.1 million.
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FAQ

What is the current stock price of Polar Power (POLA)?

The current stock price of Polar Power (POLA) is $3.3 as of January 10, 2025.

What is the market cap of Polar Power (POLA)?

The market cap of Polar Power (POLA) is approximately 8.3M.

What does Polar Power, Inc. do?

Polar Power, Inc. designs, manufactures, and sells DC power generators, renewable energy systems, and cooling solutions for various industries.

Which markets does Polar Power, Inc. serve?

Polar Power primarily serves the telecommunications market, but also caters to military, electric vehicle, marine, and industrial sectors.

What products does Polar Power, Inc. offer?

Polar Power offers DC generators, back-up DC generators, hybrid power systems, Li-Ion battery systems, and marine DC generators.

Where is Polar Power, Inc. located?

Polar Power, Inc. has a global presence, including the United States, Canada, Mexico, South Pacific Islands, Japan, Europe, the Middle East, and other Asia-Pacific countries.

How can I get in touch with Polar Power, Inc. for investor relations?

For investor relations inquiries, contact Peter Seltzberg, SVP of Investor Relations and Corporate Advisory, at peters@coreir.com or IR@PolarPowerinc.com.

What are some recent achievements of Polar Power, Inc.?

Polar Power has recently highlighted strategic initiatives and market expansion plans during LPG Week, showcasing their commitment to innovation and growth.

Does Polar Power, Inc. offer engineering support?

Yes, Polar Power provides comprehensive engineering support, including product design, development, and system integration to meet client-specific needs.

Where can I find more information about Polar Power, Inc.'s products?

More information about Polar Power's products and services can be found on their official website: www.polarpower.com.

Is Polar Power, Inc. involved in renewable energy?

Yes, Polar Power is actively involved in renewable energy, offering products like hybrid power systems and Li-Ion battery systems.

What regions does Polar Power, Inc. operate in?

Polar Power operates in regions including the United States, Canada, Mexico, South Pacific Islands, Japan, Europe, the Middle East, and other Asia-Pacific countries.
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Polar Power, Inc.

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POLA Stock Data

8.29M
1.70M
32.18%
19.61%
1.34%
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