Heliox Energy selects Pioneer’s e-Boost solution to charge VinFast electric vehicles at the point of entry

e-Boost to ensure charged electric vehicles are delivered to consumers quickly

FORT LEE, NJ, October 28, 2022 /PRNewswire/ — Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer”, “Pioneer Power” or the “Company”), a leader in the design, manufacture, service and integration of systems power supply, distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions, today announced that it has agreed to supply two of its new e- 400 kW propane-powered mobile charging boost at Heliox Energy, a leader in smart energy management solutions that support the transition to e-mobility. The e-Boost systems will be deployed at the port of Benicia in California to rapidly charge VinFast EVs imported from overseas manufacturing facilities before they are delivered directly to consumers. VinFast, a member of Vingroup, is a state-of-the-art electric vehicle automotive manufacturing company. Vingroup is a Vietnamese conglomerate with annual revenues of around $4.8 billion.

“We continue to identify and serve a broader base of use cases for our e-Boost initiative, an anytime, anywhere electric vehicle charging solution, which demonstrates that we are filling a need until now. there not satisfied, especially among manufacturers of electric vehicles, ”commented Nathan Mazurek, Chairman and CEO of Pioneer. “EVs arriving from overseas need to be recharged after they disembark from transport vessels, and current ports lack the EV charging infrastructure to meet this demand. Our fast-charging e-Boost systems are accelerating this process, helping VinFast deliver EVs to eager consumers faster.Increasingly, EV manufacturers and retailers, EV charging infrastructure providers, and high-traffic event and consumer spaces recognize the value of flexible and adaptable electric vehicle charging solutions like our e-Boost product suite, and we expect further applications of this technology EV demand continues to outpace EV charging infrastructure, we plan to address additional use cases.”

Pioneer Power plans to deliver the two 400 Kw e-Boost systems to VinFast before the end of the first quarter of 2023.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electrical power systems, distributed energy resources, generation equipment electricity and mobile electric vehicle charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

Safe Harbor Statement:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends”, “may”, “will”, “plans”, “expects”, “anticipates”, “projects”, “predicts”, “estimates”. , “aim”, “believe”. ,” “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 control of the Company and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed or implied by such forward-looking statements.These risks and uncertainties include, but are not limited to, the risks and uncertainties associated with ( (i) the Company’s ability to successfully increase revenues and profits in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the results of operation of the Company, (iv) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (v) the the Company’s dependence on two customers for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unforeseen increases in commodity prices or disruptions in the supply, (viii) the Company’s ability to achieve the revenues reported in the Company’s backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) liquidity and volume transactions in the Company’s common stock and (xii) an epidemic, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the company and risk factors that could affect the making of forward-looking statements is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s annual and quarterly reports on form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these materials free of charge on the SEC’s website at www.sec.gov. The Company undertakes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Contact:
Brett MaasManaging partner
R.I. Hayden
(646) 536-7331
[email protected]

SOURCEPioneer Power Solutions, Inc.

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