Pioneer Power Renews On-site Power Service Agreement with Large U.S. Retailer for Estimated $2 Million in Annual Revenue Over Three Years
Pioneer Power Solutions (PPSI) has renewed and expanded a service agreement with a major U.S. retailer for on-site power services. The new three-year agreement, valued at approximately $6.0 million in total revenue, represents an increase from the previous $1.3 million to $2.0 million in estimated annual revenue.
Under the agreement, Pioneer will provide maintenance, energy management, and update services to more than 750 store locations, representing a 10% increase in service footprint. The renewal demonstrates the customer's trust in Pioneer's capabilities to ensure operational efficiency and up-time through their on-site power services.
Pioneer Power Solutions (PPSI) ha rinnovato ed espanso un accordo di servizio con un importante rivenditore statunitense per servizi di energia in loco. Il nuovo accordo triennale, del valore di circa 6,0 milioni di dollari in ricavi totali, rappresenta un aumento rispetto ai precedenti 1,3 milioni di dollari, con una stima di ricavi annuali che arriva a 2,0 milioni di dollari.
In base all'accordo, Pioneer fornirà servizi di manutenzione, gestione energetica e aggiornamenti a più di 750 punti vendita, il che rappresenta un incremento del 10% nella copertura dei servizi. Il rinnovo dimostra la fiducia del cliente nelle capacità di Pioneer di garantire efficienza operativa e tempi di attività attraverso i loro servizi di energia in loco.
Pioneer Power Solutions (PPSI) ha renovado y ampliado un acuerdo de servicio con un importante minorista estadounidense para servicios de energía en el sitio. El nuevo acuerdo de tres años, valorado en aproximadamente 6,0 millones de dólares en ingresos totales, representa un aumento con respecto a los anteriores 1,3 millones de dólares, con una estimación de ingresos anuales que alcanza los 2,0 millones de dólares.
Según el acuerdo, Pioneer proporcionará servicios de mantenimiento, gestión energética y actualizaciones a más de 750 ubicaciones de tiendas, lo que representa un aumento del 10% en la cobertura de servicios. La renovación demuestra la confianza del cliente en las capacidades de Pioneer para garantizar la eficiencia operativa y el tiempo de actividad a través de sus servicios de energía en el sitio.
파이오니어 파워 솔루션즈(PPSI)가 미국의 주요 소매업체와 현장 전력 서비스에 대한 서비스 계약을 갱신하고 확장했습니다. 새로운 3년 계약은 총 수익 약 600만 달러로 평가되며, 이전의 130만 달러에서 연간 추정 수익이 200만 달러로 증가했습니다.
계약에 따라 파이오니어는 750개 이상의 매장 위치에 유지 관리, 에너지 관리 및 업데이트 서비스를 제공하며, 이는 서비스 범위에서 10% 증가한 것입니다. 이번 갱신은 고객이 파이오니어의 현장 전력 서비스를 통해 운영 효율성과 가동 시간을 보장할 수 있는 능력에 대한 신뢰를 보여줍니다.
Pioneer Power Solutions (PPSI) a renouvelé et élargi un accord de service avec un important détaillant américain pour des services d'énergie sur site. Le nouvel accord de trois ans, d'une valeur d'environ 6,0 millions de dollars de revenus totaux, représente une augmentation par rapport aux précédents 1,3 million de dollars, avec une estimation des revenus annuels atteignant 2,0 millions de dollars.
En vertu de l'accord, Pioneer fournira des services de maintenance, de gestion de l'énergie et de mise à jour à plus de 750 points de vente, représentant une augmentation de 10 % de l'empreinte de service. Le renouvellement démontre la confiance du client dans les capacités de Pioneer à garantir l'efficacité opérationnelle et le temps de disponibilité grâce à leurs services d'énergie sur site.
Pioneer Power Solutions (PPSI) hat einen Dienstleistungsvertrag mit einem großen US-Einzelhändler für Vor-Ort-Stromdienstleistungen erneuert und erweitert. Der neue Drei-Jahres-Vertrag, der mit etwa 6,0 Millionen US-Dollar an Gesamteinnahmen bewertet wird, stellt eine Steigerung von zuvor 1,3 Millionen auf geschätzte jährliche Einnahmen von 2,0 Millionen dar.
Im Rahmen des Vertrags wird Pioneer Wartungs-, Energiemanagement- und Aktualisierungsdienste für mehr als 750 Verkaufsstandorte bereitstellen, was eine 10%ige Erhöhung des Servicebereichs darstellt. Die Erneuerung zeigt das Vertrauen des Kunden in die Fähigkeiten von Pioneer, die betriebliche Effizienz und Betriebszeit durch ihre Vor-Ort-Stromdienstleistungen sicherzustellen.
- Secured $6.0 million three-year service agreement
- 54% increase in annual revenue from $1.3M to $2.0M
- 10% expansion in service footprint
- Renewal indicates strong customer satisfaction
- None.
Insights
The renewal and expansion of this service agreement represents a significant development for Pioneer Power Solutions, securing approximately
The expanded service footprint, now covering over 750 retail locations, provides several strategic advantages:
- Recurring Revenue Stability: The three-year contract structure offers predictable cash flows, enhancing financial planning capabilities and reducing revenue volatility
- Operational Scale Benefits: The
10% expansion in service locations can drive economies of scale in service delivery and potentially improve margins through operational efficiencies - Market Position Enhancement: Securing a major retailer as a long-term client strengthens Pioneer's credibility in the distributed energy resources sector and could facilitate additional contract wins
The contract renewal is particularly valuable in the current market environment where retailers are increasingly focused on energy efficiency and operational reliability. Pioneer's ability to expand its service relationship with a major retailer validates their service quality and technical capabilities in power management solutions. The agreement's scope, covering maintenance, energy management, and updates, positions Pioneer to capture additional value as retailers continue to modernize their energy infrastructure.
Under the terms of the new three-year agreement, the Company will provide maintenance, energy management and update services to more than 750 of the retailer’s store locations. The Company is expected to generate approximately
Nathan Mazurek, Chairman and CEO of Pioneer, commented, “Renewing and expanding this agreement from the previous
About Pioneer Power Solutions, Inc.
Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electric power systems, distributed energy resources, power generation equipment and mobile electric charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.
e-Boost is Pioneer’s portfolio of smart, mobile EV charging solutions. The Company has been aggressively marketing e-Boost to electric bus and truck manufacturers, fleet management companies, municipalities and EV infrastructure providers since its initial launch in November 2021.
Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the federal securities laws. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully operate its business after the divestiture of its E-Bloc business, (ii) the Company’s ability to successfully increase its revenue and profit in the future, (iii) general economic conditions and their effect on demand for electrical equipment, (iv) the effects of fluctuations in the Company’s operating results, (v) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (vi) the Company’s dependence on two customers for a large portion of its business, (vii) the potential loss or departure of key personnel, (viii) unanticipated increases in raw material prices or disruptions in supply, (ix) the Company’s ability to realize revenue reported in the Company’s backlog, (x) future labor disputes, (xi) changes in government regulations, (xii) the liquidity and trading volume of the Company’s common stock, (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xiv) risks associated with litigation and claims, which could impact our financial results and condition, and (xv) the Company’s ability to maintain compliance with the continued listing requirements of the Nasdaq Capital Market.
More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the
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Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
brett@haydenir.com
Source: Pioneer Power Solutions, Inc.
FAQ
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