Pioneer Power Secures City Contract for e-Boost Mobile Charging

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) is among the hidden penny stocks to buy now. According to a press release on September 25, the City of Long Beach, California, has awarded a $725,000 contract to Pioneer Power Solutions, Inc. (NASDAQ:PPSI) for its e-Boost mobile EV charging system.

Placed through reseller partner AssetWorks, the order includes a 250kW e-Boost Mobile ’Stretch’ system for the flexible charging of Battle Motors EV sanitation trucks, along with medium and heavy-duty electric vehicles. This will not only help Long Beach enhance its fleet electrification efforts but also integrate ChargePoint chargers and power modules on skids to improve the operations of permanent EV charging.

5 Industries Which Produce the Most Billionaires

As noted by the CEO of Pioneer Power Solutions, Inc. (NASDAQ:PPSI), this order highlights the emerging scalable charging solutions sector, which extends far beyond traditional fleet use cases. Outperforming the market by 168.61% in five years, the company is considered an appealing investment opportunity in the electrification of everything. With EV adoption on the rise, the company is well-positioned for market share growth.

Pioneer Power Solutions, Inc. (NASDAQ:PPSI), headquartered in Fort Lee, New Jersey, is a company offering distributed energy resources, power generation products, and mobile EV charging solutions. Founded in 2008, the company operates through two segments: Electrical Infrastructure Equipment and Critical Power Solutions.

While we acknowledge the potential of PPSI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PPSI and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.