August 10, 2022

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Pioneer Electricity Awarded Additional Spots by Large Household Enhancement Retailer

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Pioneer Electrical power Methods, Inc. (Nasdaq: PPSI) (“Pioneer Power” or the “Company”), a organization engaged in the manufacture, sale and service of electrical transmission, distribution and on-internet site power technology gear, these days declared that it has been awarded an additional group of locations by a person of the premier house advancement shops in the U.S. as part of the previously announced service agreement for preventative servicing and repairs at the retailer’s outlets.

The award signifies a 30% expansion of the contract. Pioneer will offer scheduled generator preventative upkeep and unexpected emergency fix services for the retailer’s engine generator equipment assets. The aforementioned contract is anticipated to get started in March, 2021.

Nathan Mazurek, Pioneer’s Chairman and Chief Executive Officer, mentioned, “In fewer than a thirty day period due to the fact the original deal award, the retailer has found the added benefits of our presenting, as nicely as the value of sustainable backup electrical power at their places. We have demonstrated the potential of our skilled experts to provide upkeep and repair expert services throughout a wide array of motor brands and models. We keep on to believe there are added growth chances for us with this retailer, and this growth even further bolsters our outlook and backlog for the yr.”

About Pioneer Electric power Answers, Inc.

Pioneer Ability Alternatives, Inc. manufactures, sells and providers a broad selection of specialty electrical transmission, distribution and on-web-site ability technology devices for programs in the utility, industrial, commercial and backup electricity marketplaces. The Company’s principal solutions contain switchgear and motor-generator controls, complemented by a countrywide area-support community to keep and repair power generation belongings. To learn much more about Pioneer, be sure to pay a visit to its web site at www.pioneerpowersolutions.com.

Secure Harbor Assertion:

This press release includes “forward-hunting statements” within just the meaning of the Personal Securities Litigation Reform Act of 1995, as amended. These statements may perhaps be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or equivalent terms. Forward-on the lookout statements are not guarantees of future efficiency, are based mostly on selected assumptions and are topic to various recognised and unknown risks and uncertainties, lots of of which are beyond the Company’s control, and can not be predicted or quantified and as a result, precise outcomes may possibly differ materially from individuals expressed or implied by these kinds of forward-wanting statements. These kinds of risks and uncertainties involve, without the need of limitation, dangers and uncertainties connected with (i) the Company’s capability to effectively boost its income and gain in the upcoming, (ii) common economic ailments and their outcome on desire for electrical equipment, (iii) the consequences of fluctuations in the Company’s working outcomes, (iv) the simple fact that quite a few of the Company’s opponents are improved proven and have noticeably larger assets than the Organization, (v) the Company’s dependence on a solitary customer for a big portion of its business enterprise, (vi) the prospective loss or departure of crucial staff, (vii) unanticipated improves in raw content costs or disruptions in supply, (viii) the Company’s capacity to notice earnings noted in the Company’s backlog, (ix) upcoming labor disputes, (x) variations in federal government polices, (xi) the reality that the Company’s chairman, who controls a vast majority of the Company’s voting electrical power, may perhaps acquire pursuits that diverge from yours, (xii) the liquidity and trading quantity of the Company’s typical stock and (xiii) an outbreak of illness, epidemic or pandemic, this kind of as the world coronavirus pandemic, or panic of these types of an occasion.

Much more in-depth info about the Corporation and the possibility factors that may perhaps have an effect on the realization of forward-searching statements is set forth in the Company’s filings with the Securities and Exchange Commission, which include the Company’s Annual and Quarterly Stories on Variety 10-K and Kind 10-Q. Buyers and safety holders are urged to examine these files absolutely free of cost on the SEC’s net website at www.sec.gov. The Enterprise assumes no obligation to publicly update or revise its ahead-wanting statements as a end result of new data, long run functions or in any other case.

Contacts

Brett Maas, Controlling Companion

Hayden IR

(646) 536-7331

[email protected]

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