Pioneer Power and CleanSpark announced that Pioneer's Switchgear segment has received a $2.4M equipment order as part of a contract for the new U.S. Embassy in Beirut, Lebanon. Pioneer's Switchgear segment is providing medium voltage switchgear, master control panels and other circuit protective equipment as part of the main electrical distribution service (normal and standby) for the facility. The job is expected to ship by the end of 2018.
Pioneer Power Solutions announced that its Critical Power Division has received a follow-on order to provide remote monitoring of the emergency power systems at an additional 80 store locations for a leading US based home improvement retailer. The order is a result of the successful 2 store pilot program that was awarded to and implemented by Pioneer in the second half of 2017.
Pioneer Power announced it has received an order of $1.4M, its largest order for dry type distribution solutions received from an electrical distributor to date, for its dry-type transformers for use at a multi-use, corporate facility in downtown Toronto. The new $1.4M order was awarded as part of a redevelopment project of a high-profile, multi-use facility in downtown Toronto that includes the corporate headquarters of a major media company, indoor and outdoor event space, meeting rooms and luxury apartments. The first shipment valued at approximately $800,000 is scheduled to ship in the second half of 2018 with the remainder scheduled for the first half of 2019.
Pioneer Power Solutions announced it has been awarded a five-year contract in a competitive bidding process to provide network transformers to a regional, regulated electric and natural gas utility serving more than 300,000 natural gas and 400,000 electric customers in a large, Southern city. The Company expects, the contract, which became effective January 19, 2018, to generate approximately $2M in revenue per year. Initial shipments are scheduled to begin in the Q2 of FY18.
Pioneer Power's Transmission & Distribution Solutions Division has been selected to provide a harmonics suppression system for the John Paulson School of Engineering at Harvard University. The order, which is expected to ship in 2Q18, is valued at approximately $400K.