(Updated) Polar Power Announces New 27KW Summit Series Deliveries to Tier-1 Telecom Customers

Pent-up Demand for Higher Powered DC Generators Driving New Product Line Deliveries for Best-in-Class Form Factor, Lower Emissions, Cost, and Efficiency Benefits to 5G Cell Sites

GARDENA, CA, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” of the “Company”) (NASDAQ: POLA), a global provider of prime, backup and solar hybrid power solutions, announces that improvements in the supply chain have resulted in the delivery of its newly introduced Summit Series, 27 kW diesel fueled DC generators to the U.S. telecom market. The Polar Power 27 kW Summit is one of the most compact, lightweight, and lowest noise power generator options currently servicing the US 5G telecom applications, extending Polar’s Power’s capabilities in telecom DC generators, now ranging from 6kW through 27kW.

Polar Power’s initial deliveries in the 27 kW category began in 2022, for lower emission natural gas (NG) and propane fueled DC generators, and the product is also now offered in a diesel fuel configuration. Robust demand for this product in aggregate (for both NG/propane and diesel fueled generators) from US Tier 1 5G operators, estimated to be growing at 25% per year*, is anticipated to drive higher levels of orders, sales, and profits from this product line at Polar Power. Given the anticipated growth of the market and the easing of residual supply chain constraints in the market since the COVID-19 pandemic, the Company sees potential to exceed its previous annual peak DC generator sales of $20M (on previous lower kW models) from this 27 kW Summit series alone within the next two to three years.

Arthur Sams, Polar Power’s CEO commented, “Building on the success of our exceptional telecom products, the Summit Series 27 KW has 35% more power than our previously highest-power telecom model. The 5G era promise of boundless connectivity appeals to service providers and applications where reliability and uptime is of the essence, in self-driving vehicles, video streaming, healthcare, security systems, gaming, and industrial automation, all of which require low latency 5G telecom connections. For the past 30 years Polar Power has developed DC generators that not only offer higher reliability, but also offer telecom networks a platform that consumes up to 40% less fuel and generates significantly lower emissions than its closest competitors. We are excited about the future where 5G technology and its implementation across the globe creates added demand in both off-grid and backup telecommunications markets for our innovative power solutions.”