Polar Power Completes Installation of UNHCR Nigeria Contract
Polar Power (NASDAQ: POLA) has successfully completed the installation of a microgrid system at a United Nations High Command for Refugees (UNHCR) facility in Nigeria. The system integrates Polar Power's DC generator, solar PV inverters, batteries, and controls, with contributions from Leonics and Biohenry This installation is expected to reduce fuel costs by up to 70% and provide continuous power during blackouts.
The microgrid solution offers several advantages, including cost-effectiveness, protection from grid fluctuations, and efficient solar PV array operation. CEO Arthur Sams highlighted that Polar Power's solution was delivered at around half the cost of competing bids. The company sees potential for similar installations at other UN sites and believes this technology could benefit organizations like FEMA during disasters by addressing fuel resupply, generator maintenance, and remote monitoring challenges.
Polar Power (NASDAQ: POLA) ha completato con successo l'installazione di un sistema microgrid presso una struttura dell'Alto Commissariato delle Nazioni Unite per i Rifugiati (UNHCR) in Nigeria. Il sistema integra il generatore DC di Polar Power, inverter solari, batterie e controlli, con il contributo di Leonics e Biohenry. Questa installazione dovrebbe ridurre i costi del carburante fino al 70% e fornire energia continua durante i blackout.
La soluzione microgrid offre diversi vantaggi, tra cui economicità, protezione dalle fluttuazioni della rete e operatività efficiente dell'impianto solare PV. Il CEO Arthur Sams ha sottolineato che la soluzione di Polar Power è stata fornita a circa la metà del costo delle offerte concorrenti. L'azienda vede un potenziale per installazioni simili in altri siti delle Nazioni Unite e crede che questa tecnologia possa beneficiare organizzazioni come FEMA durante le catastrofi, affrontando le sfide di rifornimento di carburante, manutenzione dei generatori e monitoraggio remoto.
Polar Power (NASDAQ: POLA) ha completado con éxito la instalación de un sistema de microred en una instalación del Alto Comisionado de las Naciones Unidas para los Refugiados (ACNUR) en Nigeria. El sistema integra el generador de CC de Polar Power, inversores de energía solar, baterías y controles, con contribuciones de Leonics y Biohenry. Se espera que esta instalación reduzca los costos de combustible en hasta un 70% y proporcione energía continua durante los cortes de energía.
La solución de microred ofrece varias ventajas, incluyendo rentabilidad, protección contra fluctuaciones de la red y operación eficiente del sistema de energía solar PV. El CEO Arthur Sams destacó que la solución de Polar Power se entregó a aproximadamente la mitad del costo de las ofertas competidoras. La empresa ve potencial para instalaciones similares en otros sitios de la ONU y cree que esta tecnología podría beneficiar a organizaciones como FEMA durante desastres al abordar los desafíos de reabastecimiento de combustible, mantenimiento de generadores y monitoreo remoto.
Polar Power (NASDAQ: POLA)는 나이지리아의 유엔 난민 고등판무관 사무소(UNHCR) 시설에 마이크로 그리드 시스템 설치를 성공적으로 완료했습니다. 이 시스템은 Polar Power의 직류 발전기, 태양광 인버터, 배터리 및 제어 장치로 구성되어 있으며, Leonics와 Biohenry의 기여도 포함되어 있습니다. 이번 설치는 연료 비용을 최대 70%까지 절감하고 정전 시에도 연속적으로 전력을 공급할 것으로 예상됩니다.
마이크로 그리드 솔루션은 경제성, 그리드 변동으로부터의 보호, 그리고 효율적인 태양광 배열 운영 등 여러 가지 장점을 제공합니다. CEO 아서 샘스는 Polar Power의 솔루션이 경쟁 입찰의 약 절반 가격으로 제공되었다고 강조했습니다. 이 회사는 다른 유엔 사이트에서도 유사한 설치 가능성을 보고 있으며, 이 기술이 FEMA와 같은 기관이 재해 시 연료 보급, 발전기 유지 관리 및 원격 모니터링 문제를 해결하는 데 도움이 될 것이라고 믿고 있습니다.
Polar Power (NASDAQ: POLA) a réussi à terminer l'installation d'un système de micro-réseau dans une installation du Haut-Commissariat des Nations Unies pour les réfugiés (HCR) au Nigeria. Le système intègre le générateur CC de Polar Power, les onduleurs solaires, les batteries et les contrôles, avec les contributions de Leonics et Biohenry. Cette installation devrait réduire les coûts de carburant jusqu'à 70% et fournir de l'énergie continue pendant les coupures de courant.
La solution de micro-réseau offre plusieurs avantages, notamment rentabilité, protection contre les fluctuations du réseau et opération efficace de l'installation solaire PV. Le PDG Arthur Sams a souligné que la solution de Polar Power a été fournie à environ la moitié du coût des offres concurrentes. L'entreprise voit un potentiel pour des installations similaires sur d'autres sites de l'ONU et pense que cette technologie pourrait bénéficier à des organisations comme FEMA pendant les catastrophes en abordant les défis liés à la réapprovisionnement en carburant, à la maintenance des générateurs et à la surveillance à distance.
Polar Power (NASDAQ: POLA) hat erfolgreich ein Mikronetzsystem in einer Einrichtung des UNHCR (Hoher Flüchtlingskommissar der Vereinten Nationen) in Nigeria installiert. Das System integriert den DC-Generator von Polar Power, Solarwechselrichter, Batterien und Steuerungen, mit Beiträgen von Leonics und Biohenry. Diese Installation wird voraussichtlich die Brennstoffkosten um bis zu 70% senken und kontinuierliche Energie während Stromausfällen bereitstellen.
Die Mikronetzlösung bietet mehrere Vorteile, darunter Kosteneffizienz, Schutz vor Netzschwankungen und effizienten Betrieb des Solar-PV-Arrays. CEO Arthur Sams hob hervor, dass die Lösung von Polar Power zu etwa der Hälfte der Kosten von konkurrierenden Angeboten bereitgestellt wurde. Das Unternehmen sieht Potenzial für ähnliche Installationen an anderen UN-Standorten und glaubt, dass diese Technologie Organisationen wie FEMA während Katastrophen helfen könnte, indem sie Herausforderungen im Bereich Kraftstoffnachschub, Generatorwartung und Fernüberwachung angeht.
- Successful installation of microgrid system at UNHCR facility in Nigeria
- Expected fuel cost reduction of up to 70%
- Solution delivered at around half the cost of competing bids
- Potential for similar installations at other UN sites
- Technology applicable to disaster relief organizations like FEMA
- None.
Insights
This installation marks a significant milestone for Polar Power, showcasing their ability to deliver cost-effective and efficient microgrid solutions. The reported
The success of this project could open doors to further contracts with UN agencies and similar organizations, representing a considerable growth opportunity for Polar Power. The company's competitive edge in providing a superior solution at half the cost of competitors is particularly noteworthy and could be a key differentiator in future bids.
However, investors should consider that while this project is promising, its immediate financial impact on Polar Power may be given the company's current market cap of
While this contract completion is positive news, its direct financial impact on Polar Power (POLA) needs careful consideration. The company's micro-cap status (
The key financial implications are:
- Potential for recurring revenue through maintenance and future installations at other UN sites
- Improved competitive positioning due to cost-effectiveness, which could lead to higher win rates on future bids
- Possible margin expansion if the cost savings can be partially captured by Polar Power
Investors should watch for any updates on the financial terms of this contract and, more importantly, any announcements of follow-on projects stemming from this successful installation. The company's ability to leverage this reference project into a broader UN or NGO customer base could be a significant catalyst for future growth.
Microgrid Installation Anticipated to Reduce Fuel Costs by up to
GARDENA, CA, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA)(“Polar Power”), a global provider of prime, backup, solar hybrid power, and microgrid solutions announces that its DC generator, solar PV inverters, batteries, and controls were seamlessly integrated and installed at a United Nations High Command for Refugees (“UNHCR”) facility in Nigeria. Assisting Polar Power on this project were Leonics Ltd. (supplying inverters and lithium batteries), Biohenry Ltd. (providing installation and maintenance services), and the Greening and Sustainability Team at UNHCR.
Polar Power’s unique “microgrid” power system for grid connected application ensures continuous power for critical operations during blackouts and can also reduce the utility cost when installed with the solar option. During frequent and long duration outages, this microgrid can provide businesses with the necessary continuity by providing continuous power to refrigeration, computers, lighting, water pumping, and communications equipment.
Arthur Sams, Polar Power’s CEO, commented, “Polar Power has delivered one of the best solutions at around half the cost of other bidders proposing lesser systems. Besides the huge fuel savings from up to a
While the UNHCR facility in Nigeria will continue to benefit from this innovative power solution that simultaneously significantly reduces generator maintenance, fuel cost, and the utility bill, Polar Power looks forward to future collaborations and projects that can provide sustainable and reliable energy to regions that need it most. This microgrid technology platform is designed to solve many of the power generation problems that other worldwide organizations, including FEMA (Federal Emergency Management Agency in the U.S., may encounter during storms and disasters by providing fuel resupply, generator maintenance, and remote equipment monitoring.
About Polar Power, Inc.
Polar Power (NASDAQ: POLA), an innovative provider of DC advanced power and cooling systems across diverse industrial applications, is pioneering technological changes that radically change the production, consumption, and environmental impact of power generation. Its product portfolio, known for innovation, durability, and efficiency, presently includes standard products for telecom, military, renewable energy, marine, automotive, residential, commercial, oil field and mining applications. Polar Power’s systems can be configured to operate on any energy source including photovoltaics, diesel, LPG (propane and butane), and renewable fuels.
Polar Power’s telecom power solutions offer significant cost savings with installation, permitting, site leases, and operation. Its military solutions provide compact, lightweight, fuel efficient, reliable power solutions for robotics, drone, communications, hybrid propulsion, and other applications.
Polar Power’s mobile rapid battery charging technology enables on-demand roadside charging for electric vehicles. Its combined heat and power (CHP) residential systems offer innovative vehicle charging and integrated home power systems via natural gas or propane feedstocks, optimizing performance and system costs.
Polar Power’s micro / nano grid solutions provide lower cost energy in “bad-grid or no-grid” environments. Its commitment to technological advancement extends to hybrid propulsion systems for marine and specialty vehicles, ensuring efficiency, comfort, reliability, and cost savings.
For more information, please visit www.polarpower.com or follow Polar Power on www.linkedin.com/company/polar-power-inc/.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. With the exception of historical information, the matters discussed in this press release including, without limitation, Polar Power’s belief that orders from its telecom customers will continue to materialize; Polar Power’s expectations that its planned investment in sales and marketing will accelerate sales growth, and managing operating expenses should enable both top- and bottom-line improvements throughout 2024 are forward-looking statements and considerations that involve a number of risks and uncertainties. The actual future results of Polar Power could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, adverse domestic and foreign economic and market conditions, including demand for its Summit Series, 27 kW DC generator product line; trade tariffs on raw materials; changes in domestic and foreign governmental regulations and policies; the impact of inflation and changing prices on raw materials; supply chain constraints causing significant delays in sourcing raw materials; labor shortages as a result of the pandemic, low unemployment rates, or other factors limiting the availability of qualified workers; and other events, factors and risks. It undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond Polar Power’s control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in Polar Power’s reports filed with the Securities and Exchange Commission.
Investor Relations Contact:
At CORE IR
Peter Seltzberg, SVP Investor Relations and Corporate Advisory
peters@coreir.com
At Polar Power Inc.
Attachment
FAQ
What is the expected fuel cost reduction for the UNHCR facility in Nigeria using Polar Power's microgrid system?
How does Polar Power's (POLA) microgrid solution compare to competing bids for the UNHCR project?
What are the key components of Polar Power's (POLA) microgrid system installed at the UNHCR facility?
How can Polar Power's (POLA) microgrid technology benefit organizations like FEMA during disasters?
