Pioneer Electricity Awarded Further Areas by Large Household Enhancement Retailer

FORT LEE, N.J.–(Small business Wire)–Pioneer Energy Solutions, Inc. (Nasdaq: PPSI) (“Pioneer Energy” or the “Company”), a company engaged in the manufacture, sale and support of electrical transmission, distribution and on-website electricity generation machines, today declared that it has been awarded an more group of destinations by a single of the largest property improvement shops in the U.S. as component of the earlier announced assistance deal for preventative maintenance and repairs at the retailer’s stores.

The award signifies a 30% growth of the deal. Pioneer will deliver scheduled generator preventative maintenance and unexpected emergency restore services for the retailer’s engine generator equipment belongings. The aforementioned agreement is predicted to get started in March, 2021.

Nathan Mazurek, Pioneer’s Chairman and Main Executive Officer, stated, “In a lot less than a thirty day period because the first deal award, the retailer has found the gains of our offering, as nicely as the benefit of sustainable backup ability at their places. We have demonstrated the capability of our expert experts to present maintenance and restore providers across a wide vary of engine companies and products. We keep on to believe there are extra expansion prospects for us with this retailer, and this growth even further bolsters our outlook and backlog for the calendar year.”

About Pioneer Electricity Remedies, Inc.

Pioneer Ability Answers, Inc. manufactures, sells and providers a wide assortment of specialty electrical transmission, distribution and on-web-site electrical power era machines for apps in the utility, industrial, industrial and backup ability marketplaces. The Company’s principal goods include things like switchgear and engine-generator controls, complemented by a countrywide area-service community to retain and restore electric power generation property. To study additional about Pioneer, please check out its web site at www.pioneerpowersolutions.com.

Risk-free Harbor Statement:

This press release is made up of “forward-on the lookout statements” inside of the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may possibly be preceded by the terms “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or equivalent phrases. Ahead-hunting statements are not assures of upcoming functionality, are based mostly on specified assumptions and are topic to numerous identified and not known dangers and uncertainties, lots of of which are past the Company’s regulate, and are not able to be predicted or quantified and therefore, true outcomes may perhaps differ materially from people expressed or implied by these kinds of ahead-searching statements. This sort of pitfalls and uncertainties consist of, with no limitation, risks and uncertainties involved with (i) the Company’s ability to effectively maximize its profits and revenue in the future, (ii) common financial conditions and their effect on need for electrical products, (iii) the results of fluctuations in the Company’s operating outcomes, (iv) the actuality that many of the Company’s competitors are better recognized and have appreciably increased assets than the Company, (v) the Company’s dependence on a one customer for a big part of its small business, (vi) the likely decline or departure of essential staff, (vii) unanticipated raises in raw material charges or disruptions in provide, (viii) the Company’s ability to recognize income reported in the Company’s backlog, (ix) long term labor disputes, (x) modifications in governing administration polices, (xi) the point that the Company’s chairman, who controls a bulk of the Company’s voting energy, may possibly acquire interests that diverge from yours, (xii) the liquidity and trading volume of the Company’s widespread inventory and (xiii) an outbreak of disease, epidemic or pandemic, these types of as the world coronavirus pandemic, or worry of these kinds of an event.

More thorough information and facts about the Organization and the danger factors that may well affect the realization of ahead-on the lookout statements is set forth in the Company’s filings with the Securities and Trade Fee, which include the Company’s Yearly and Quarterly Experiences on Kind 10-K and Kind 10-Q. Buyers and protection holders are urged to examine these files absolutely free of charge on the SEC’s web internet site at www.sec.gov. The Firm assumes no obligation to publicly update or revise its forward-looking statements as a consequence of new information, potential situations or in any other case.