Pioneer Power Solutions, Inc. (NASDAQ: PPSI) is engaged within the design, manufacture and distribution of energy infrastructure solutions, on-site power equipment, distributed generation and more. Shares of the energy infrastructure company are surging 96% through early trading on Monday, November 8, 2021. Over the past three months, Pioneer Power Solutions has seen average daily volume of 218,000 shares. However, volume of 161.82 million shares or dollar volume of $1.01 billion, has already exchanged hands through early trading on Monday.
Shares of Pioneer Power Solutions are soaring after the company announced the launch of its E-Boost portfolio, which features mobile electric vehicle (EV) charging solutions. The E-Boost portfolio will have three initial products: E-Boost G.O.A.T., E-Boost Mobile and E-Boost Pod.
The E-Boost G.O.A.T. (Generator on a Truck) features a truck-mounted, high-capacity EV charger. This allows greater mobility in getting EV charging capabilities to any location. The E-Boost Mobile is a trailer-mounted product that allows for higher capacity EV charging with minimal effort. The mobile version is meant to power events, large gatherings, businesses and more. The E-Boost Pod is a stationary EV charging station that provides high-speed charging to up to two vehicles at the same time. The E-Boost Pod can also serve as emergency power source during power outages and other critical situations.
Nathan Mazurek, Pioneer Power’s Chairman and Chief Executive Officer, said, “We are anticipating the rapidly growing demand for high-capacity mobile charging that will be required to support the wide range of EV and mobile power use cases with E-Boost products. The launch of these new offerings further advances our strategic shift towards the growing, multi-billion dollar market opportunity in Electrical Vehicle Charging (EVC). We have applied decades of power engineering experience to the design and development of these new offerings and created a market facing unit, Pioneer Power Mobility, to sell, deliver and support them. To that end, we are proud to announce the appointment of Geo Murickan as President of Pioneer’s Power Mobility Company. Geo has years of experience marketing, specifying and deploying complex power solutions and will lead this effort. Geo has been a key leader at Pioneer as well as a senior executive with General Electric. He brings a wealth of knowledge and expertise to this developing line of business.”
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