Pioneer Power secured a $6.0 million award for two PRYMUS® distributed generation systems comprising eight 400 kW natural gas engine sets and two 480 kW battery energy storage units with switchgear and controls, all trailer-mounted for rapid deployment. These systems are slated for delivery in the second half of 2026 and have lifted the company’s backlog to $13.9 million as of March 31.

For the quarter ended March 31, 2026, Pioneer Power reported revenue of $4.3 million, down 36.7% year-over-year, with gross profit of $582,000 (13.6% margin) versus $148,000 (2.2% margin) in the prior year. The company recorded an operating loss of $2.0 million and a net loss of $2.5 million, while cash on hand was $13.6 million at quarter-end.

At the end of April, Pioneer implemented cost reduction measures expected to save $1.5 million annually, primarily through headcount reductions in its e-Boost platform. Meanwhile, e-Boost order activity averaged over $500,000 per month and the PRYMUS sales pipeline and outstanding quotations have exceeded initial expectations, underlining growing demand for rapid-deployment power solutions.