Polar Power Receives Multi-Unit Purchase Order of DC Power Systems from New Tier-1 Wireless Carrier
June 07 2018 - 08:31AM
Polar Power, Inc. (NASDAQ:POLA), a global provider of prime, backup
and solar hybrid DC power solutions, has received a 105-unit
purchase order for its 15-kilowatt (kW) back-up DC generator set
from a newly signed Tier-1 wireless carrier customer in the United
States. This initial purchase order will be shipped over the next
three months to telecom sites in the United States as part of the
Tier-1 wireless carrier’s new cell site hardening initiative.
In the fourth quarter of 2017 and into the beginning of 2018,
Polar Power commenced and completed a six-month test and evaluation
with this Tier-1 wireless carrier in the U.S. for a customized,
more economical DC power system. This solution was built to the
customer specifications and Polar Power was added to their national
monitoring system in the first quarter of 2018. Through the Tier-1
wireless carrier’s cell site integration partner, the company
received its initial purchase order and expects to deliver these
units in the second and third quarter of 2018.
“The momentum with cell site hardening is accelerating as
evidenced with our newly signed Tier-1 wireless carrier’s initial
purchase order and increasing sales with our largest Tier-1
wireless carrier customer,” said Polar Power CEO, Arthur Sams.
“Service disruptions caused by power outages can cost a carrier
time, money and customers, making hardening of their communications
sites a priority. Moreover, smartphones are now a consumer’s
primary communications device, thereby creating greater demand for
connectivity and data, thus the necessity for greater reliability
in wireless networks,” continued Sams.
“The new normal of extreme weather volatility is also having a
negative impact on the reliability of our electric utility grids,
which impacts our first responders who have a growing dependency on
broadband communications for running specialty apps and data
services during emergencies. All these factors have created the
need to harden the cell sites with backup power and we believe the
DC generator is one of most efficient means to bridge the power gap
during times of grid failure,” concluded Sams.
“To support this new customer and our growing client base, Polar
is constantly expanding and improving our production capabilities
and supply chain,” said Polar Power COO Raj Masina. “This means the
increased use of robotics and additional fabrication machinery
along with better pricing from our vendors due to our increasing
volumes. In terms of future growth, we also made material progress
with our new 29,000 square foot production facility and expect it
to come on line in August of 2018,” concluded Masina.
About Polar Power, Inc. Gardena,
California-based Polar Power, Inc. (NASDAQ:POLA), designs,
manufactures and sells direct current, or DC, power systems,
lithium battery powered hybrid solar systems for applications in
the telecommunications market and, in other markets, including
military, electric vehicle charging, cogeneration, distributed
power and uninterruptable power supply. Within the
telecommunications market, Polar’s systems provide reliable and
low-cost energy for applications for off-grid and bad-grid
applications with critical power needs that cannot be without power
in the event of utility grid failure. For more information, please
visit www.polarpower.com.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995 With the exception of
historical information, the matters discussed in this press release
including, without limitation, Polar Power’s expectation that its
new customers will commence ordering products during the next two
weeks and beyond; Polar Power’s belief that customers will make
major purchases in the fourth quarter of 2017; and Polar Power’s
belief that RFP’s will turn into purchase orders are
forward-looking statements and considerations that involve a number
of risks and uncertainties. The actual future results of Polar
Power could differ from those statements. Factors that could cause
or contribute to such differences include, but are not limited to,
adverse economic and market conditions, including demand for DC
power systems; raw material and manufacturing costs; changes in
governmental regulations and policies; and other events, factors
and risks previously and from time to time disclosed in Polar
Power’s filings with the Securities and Exchange Commission
including, specifically, those factors set forth in the “Risk
Factors” section contained in Polar Power’s Form 10-Q filed with
the Securities and Exchange Commission on May 9, 2018.
Media and Investor Relations:
Chris Tyson Managing Director MZ North
AmericaDirect: 949-491-8235chris.tyson@mzgroup.us
www.mzgroup.us
Company Contact:Polar Power, Inc.249 E. Gardena
Blvd.Gardena, CA 90248Tel:
310-830-9153ir@polarpowerinc.comwww.polarpower.com
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