Pioneer Power sells PCEP business to Mill Point for $50M total consideration

PIONEER POWER SOLUTIONS, INC.

Total consideration $50M: $48M cash, $2M equity, and assumption of certain liabilities.
Pioneer receives minority equity stake in Voltaris Power LLC, the new platform formed by Mill Point.
Nathan Mazurek will serve on the board of Pioneer Investment LLC (Voltaris parent).
Company to provide 2025 revenue and profit guidance when reporting Q3 results in coming weeks.
Divestiture completes strategic shift; Pioneer now solely focused on Critical Power and eMobility.

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