GARDENA, Calif., Oct. 01, 2018 (GLOBE NEWSWIRE) — Polar Power, Inc. (NASDAQ: POLA), a all-around provider of prime, advancement and solar amalgam ability solutions, appear today the cancellation of $7.5 actor in new orders from its absolute US Tier 1 wireless customers, which will add to its absolute backlog. On top of its absolute orders, these added orders are appointed for deliveries over the aing 120 days.
Polar Ability ‘s DC generators are acclimated to ability telecom accessories at belfry accessories (cell / BTS sites) for both on-grid or off-grid locations. These new orders are for Polar Power’s accepted 15kW DC advancement architect with the afterward ammunition options: diesel, accustomed gas and LPG fuel.
With the admeasurement of wireless broadband casework beyond the United States, the charge for added believability is growing in alongside with the charge for armpit hardening due to the accretion abundance and severity of storms. Key technology trends, such as the internet of things (IOT), free cartage and video alive appeal aerial believability and affection standards from broadband services. For the accomplished 25 years, Polar Ability has advised ability systems that accommodated acrimonious industry requirements and it is now benefiting from basic amount affairs at Tier-1 telecoms as arrangement believability and advancement ability during emergencies accept become key industry initiatives.
“This adjustment is added affirmation that we are auspiciously diversifying beyond Tier-1 telecom providers in the U.S., which is one our key cardinal objectives. Our articles accomplish a ytical action in ensuring telecom basement is abundantly accustomed to anxiously ability corpuscle architecture during emergencies and accustomed disasters which is accepted as ‘cell armpit hardening,’” said Polar Ability CEO, Arthur Sams. “We abide to focus on DC ability systems improvements to accommodated the alteration needs of our Tier-1 customers, while additionally architecture out our sales and account arrangement to advance our position as a key Tier-1 supplier to the US telecom industry.”
“Top Tier-1 US telecom providers accept been committing added basic advance to amalgamate telecom basement and we accept these accretion orders authenticate that an accretion sales access with the US Tier-1 suppliers is alpha to booty place. In apprehension of this growth, during the added division we anchored an added assembly ability and accompanying accessories to add an incremental 50% accomplishment accommodation by end of the year. This accommodation amplification is a ytical allotment of our abiding action to accumulation a growing all-around appeal for DC ability systems to the telecom industry in the U.S. and internationally. Despite accessory setbacks in accepting our added facility, during the third division we fabricated cogent advance in our cold to accept the added ability operational by the end of 2018. We accept that the accession of newer automation accessories and automated assembly processes will advance our artefact achievement and abate commitment advance times for our barter worldwide; which is a key cardinal action for our company.
About Polar Power, Inc. Gardena, California-based Polar Power, Inc. (NASDAQ: POLA), designs, articles and sells absolute current, or DC, ability systems, lithium array powered amalgam solar systems for applications in the telecommunications bazaar and, in added markets, including military, electric agent charging, cogeneration, broadcast ability and uninterruptable ability supply. Aural the telecommunications market, Polar’s systems accommodate reliable and bargain activity for applications for off-grid and bad-grid applications with ytical ability needs that cannot be after ability in the accident of account filigree failure. For added information, amuse appointment www.polarpower.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 With the barring of absolute information, the affairs discussed in this columnist absolution including, after limitation, Polar Power’s acceptance that its new orders will be delivered aural the aing 120 days; Polar Power’s apprehension that it will abide to account from basic amount affairs at Tier-1 telecoms; Polar Power’s acceptance that Top Tier-1 US telecom providers accept been committing added basic advance to amalgamate telecom basement and that Polar Ability will account from such added basic expenditures through an access in its sales to US Tier-1 suppliers ; and Polar Power’s acceptance that it will be acknowledged in commutual its ability amplification by the end of 2018 are advanced statements and considerations that absorb a cardinal of risks and uncertainties. The absolute approaching after-effects of Polar Ability could alter from those statements. Factors that could account or accord to such differences include, but are not bound to, adverse bread-and-er and bazaar conditions, including appeal for DC ability systems; raw actual and accomplishment costs; changes in authoritative regulations and policies; and added events, factors and risks ahead and from time to time appear in Polar Power’s filings with the Securities and Exchange Commission including, specifically, those factors set alternating in the “Risk Factors” area independent in Polar Power’s Form 10-Q filed with the Securities and Exchange Commission on August 14, 2018.
Media and Investor Relations:Shawn Severson Integra Investor RelationsShawn M. Severson 1 (415) [email protected]@Integra IRwww.integra-ir.com
Company Contact:Polar Power, Inc.249 E. Gardena Blvd.Gardena, CA 90248Tel: [email protected]
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