Pioneer Power Awarded Additional Locations by Large Home Improvement Retailer

30% Increase in Locations After One Month Demonstrates Focus on Sustainable Power

FORT LEE, N.J.--(BUSINESS WIRE)--Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that it has been awarded an additional group of locations by one of the largest home improvement retailers in the U.S. as part of the previously announced service contract for preventative maintenance and repairs at the retailer’s stores.

The award represents a 30% expansion of the contract. Pioneer will provide scheduled generator preventative maintenance and emergency repair services for the retailer’s engine generator equipment assets. The aforementioned contract is expected to begin in March, 2021.

Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer, said, “In less than a month since the initial contract award, the retailer has seen the benefits of our offering, as well as the value of sustainable backup power at their locations. We have demonstrated the ability of our expert technicians to provide maintenance and repair services across a broad range of engine manufacturers and models. We continue to believe there are additional expansion opportunities for us with this retailer, and this expansion further bolsters our outlook and backlog for the year.”

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

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