Looking Ahead to 2026

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer” or the “Company”), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions, announced a strong start to 2026 with approximately $1.8 million received from new orders through mid-February.

“Securing over $1.75 million in new orders within the first few weeks of the year confirms the continued relevance of our broad suite of charging and power solutions,” said Nathan J. Mazurek, Chairman and CEO of Pioneer. “Enterprises simply cannot secure enough reliable power in an economically reasonable timeframe. Our ability to deliver high-capacity, off-grid power solutions to customers across North America today is a more significant competitive advantage than ever before. We believe this early momentum positions us for another year of high revenue growth as we continue to convert a robust pipeline into tangible results for our shareholders.”

Select New Business Highlights

• Order from a top-tier California public school district

In partnership with A-Z Bus Sales, Inc., Pioneer has agreed to provide an e-Boost Mobile unit that delivers 180KW of power dispensed via six DCFC charging ports to one of Southern California’s leading school districts to support its growing fleet of electric school buses. Currently serving 13,000 students with a fleet of more than 50 buses, the school district requires an off-grid charging solution to bridge chronic utility connection delays, ensuring uninterrupted deployment of its zero-emission buses.

A-Z Bus Sales, Inc., a premier alliance partner for e-Boost and California’s largest and longest-serving Blue Bird bus dealer, has been at the forefront of electric and alternative-fuel student transportation. A-Z expects this project to be part of a larger series of e-Boost orders it anticipates securing and delivering in 2026. A-Z Bus Sales recently delivered its one-thousandth all-electric, zero-emission bus, supporting many West Coast school districts’ shift to cleaner, greener fleets.

• Order from one of the top ten largest public-school districts in the U.S.

To support a rapidly expanding fleet of all-electric buses for a nationally-ranked metropolitan school district in Central Florida facing infrastructure dealys, Pioneer has agreed to deploy two e-Boost PureEnergy units with twelve 60KW fast-charging ports, providing the critical infrastructure needed to charge the school districts recent acquisition of 26 IC (International) and Thomas Built electric school buses. As Florida’s largest student transportation system carrying 52,000 students daily across more than 500 routes with a fleet of over 900 buses, this school district is expected to power its growing clean energy fleet reliably while reinforcing its leadership in electric bus adoption statewide.

• Award from the largest investor-owned utility (IOU) in the Southeast U.S.

Supporting a Southeastern utility at the forefront of grid modernization and EV infrastructure expansion, Pioneer eMobility will provide skid-mounted, advanced PureCharging with four dual-port 60KW Heliox DCFC chargers in collaboration with Heliox Energy (a Siemens company) for off-grid deployment at several of the utility’s remote service sites. This infrastructure is expected to power more than 50 EVs in the utility’s fleet to operate reliably in challenging locations, replacing traditional trucks and demonstrating how clean transportation solutions can be integrated seamlessly into large-scale electric fleet operation and maintenance.

• Order for e-Boost-D in collaboration with the largest airport operator in Canada

Working in conjunction with a leading provider of EV charging infrastructure for commercial and municipal vehicle fleet electrification in Canada, Pioneer secured an e-Boost order for the leading Canadian aviation hub serving over 45 million annual passengers. This was a competitive bid that challenged the vendors on innovation, experience and value of Pioneer’s solution. As part of this order, Pioneer has agreed to provide two e-Boost D Mobile units integrated with chargers from the leading Canadian EV charger company to support daily charging of airside EV fleet vehicles and equipment. Each of the e-Boost-D units are expected to distribute 100kW of power to four 80A Autel level 2 charging ports to support the expanding fleet at the airport.

• A new year, a new platform that meets market demand – e-Boost D Mobile

During the second half of 2025, Pioneer, in its efforts to continuously expand its addressable market, designed e-Boost D Mobile, an e-Boost Mobile model that is powered on diesel or renewable diesel. Propelled by robust policy tailwinds and the Clean Fuel Production Credit (45Z), renewable diesel demand surged in 2025. e-Boost D has been a widely requested model that accelerated in momentum over late 2025 and with this first purchase order for the largest Canadian airport operator, Pioneer officially unveils this solution.

“From electric school bus deployments in California and Florida to off-grid charging solutions for utilities in Southeastern U.S. and aviation mega-hub in Canada, we are removing the primary barriers to EV adoption,” added Geo Murickan, President of Pioneer eMobility. “We aren't just selling chargers or power, we are providing operational certainty for large-scale fleet transitions.”

Pioneer believes that these orders underscore a critical shift in the market and reaffirm how organizations are increasingly bypassing multi-year utility upgrade timelines in favor of Pioneer’s "Energy-at-the-Edge" solutions, which provide immediate, off-grid power for mission-critical fleets, businesses and beyond. These orders also further bolster Pioneer’s introduction of PRYMUS, the “Pure Power” version of e-Boost and its role as the foundational, mobile, "Private Grid" for large-scale electrification including powering “Edge” Computing Data Centers.

Pioneer Power Solutions | www.pioneerpowersolutions.com

Pioneer's e-Boost | www.pioneer-emobility.com

Xcel Energy (NASDAQ: XEL) announced it will power a new Google data center in Pine Island, Minnesota. The data center and associated Electric Service Agreement will provide a significant contribution to the state’s economy, including a large buildout of new clean energy projects that will contribute to Minnesota’s clean energy goals while ensuring that Xcel Energy’s current customers benefit as a result of this growth.

Data centers serve as the core infrastructure that powers the internet, from personal electronics to business operations to government services. Xcel Energy recently signed an agreement to supply power for the Google data center that will support core services — including Workspace, Search, YouTube and Maps — that people, communities and businesses use every day.

Xcel Energy is committed to ensuring that new large loads do not increase costs for existing customers and that service remains reliable. Under the agreement, Google will pay all costs for its new service in line with its typical practices and Minnesota’s regulatory and legislative requirements for large loads. Over the past five years, Xcel Energy’s average Minnesota residential customer’s electric bills were 27% below the national average. Since 2013, residential electric bills have increased by 1.55% a year, well below the rate of inflation.

“Data centers are the backbone of the 21st century economy, and we’re excited to work with Google to advance the prosperity of our region and ensure our current customers benefit,” said Bria Shea, president of Xcel Energy–Minnesota, North Dakota and South Dakota. “This unique agreement is a model for data center partnerships in that it fulfills and protects Minnesota’s goals for a carbon-free future and drives investment deep into our communities — all while ensuring our current customers are not paying more for this growing demand.”

As part of the agreement, Xcel and Google are partnering to bring 1,900 megawatts of new clean energy to the grid. In addition, Google will cover any new grid infrastructure costs associated with the project and has planned carefully with Xcel Energy to ensure electricity in the area remains reliable and affordable for all of Xcel Energy’s customers. A Clean Energy Accelerator Charge (CEAC) will provide for 1,400 MW of wind, 200 MW of solar and 300 MW of long-duration energy storage, along with a $50 million investment towards Xcel Energy’s Capacity*Connect Program, which will help drive reliability on the grid. The additional generation will help advance Xcel Energy beyond its current energy mix of 70% carbon-free electricity.

“Our commitment to Minnesota goes beyond building infrastructure; it’s about being a responsible partner, neighbor, and a good citizen of the grid,” said Amanda Peterson Corio, head of Data Center Energy at Google. “This agreement supports our goal of expanding AI and cloud capabilities in a way that provides long-term value to the places we operate. By integrating new carbon-free energy and pioneering long-duration storage with Xcel Energy, we are helping to build a more resilient system that benefits the entire community.”

The clean energy resources funded through the agreement include a 300 megawatt (30 gigawatt-hour) Form Energy iron-air battery system installation, the largest battery project by gigawatt-hour energy capacity announced to date in the world. This 100-hour battery system will store energy during periods of high production and low demand and dispatch it to the grid during times of high demand, providing firm capacity and strengthening grid reliability when it is needed most, even over multiple days.

“Data centers are critical tools for economic development and growth in our state,” said Doug Loon, president and CEO of the Minnesota Chamber of Commerce. “Last year’s law that extended incentives for operation of data centers while balancing environmental considerations like water and energy use is a model for other states. The Minnesota Chamber is excited about the partnership between Google and Xcel Energy to deliver this project and we look forward to the economic benefits it will bring to Minnesota.”

The Electric Service Agreement will be filed for review with the Minnesota Public Utilities Commission in the coming weeks. The MPUC must formally approve the agreement between Xcel Energy and Google to supply power to the site.

Xcel Energy | xcelenergy.com 

Natural Power, a leading renewable energy consultancy and service provider, has appointed Dr Ollie Tulloch PhD CEng to further strengthen its advanced performance engineering (APE) capabilities, reinforcing its commitment to supporting wind asset owners and investors through increasingly complex technical and commercial decisions.

Ollie joins Natural Power with deep expertise in wind turbine modelling, aeroelastic analysis, controls optimisation and performance assessment, gained across industry-leading innovation roles and academic research. He brings particular experience in applying advanced engineering and analytics to real-world operational challenges across the full wind project lifecycle.

Peter Denholm, Director of Analytics at Natural Power, said: “We are happy to welcome Ollie to the team. His appointment further strengthens Natural Power’s depth of technical expertise and underlines our role as a trusted independent adviser supporting the safe, efficient and sustainable operation of renewable energy assets worldwide.

“His appointment comes at a critical time for the European onshore wind sector, where a growing proportion of assets are approaching or exceeding their original design life. Owners and developers are increasingly required to consider life extension strategies, component replacement, repowering options or end-of-life decisions — all of which demand robust, independent technical assessment.”

Natural Power’s APE service plays a key role in this process, providing unbiased, evidence-based insight into turbine and asset performance, structural loading, degradation, control strategies and long-term operability. This supports informed decision-making for asset owners, lenders and investors navigating life extension and continued operation.

Importantly, APE at Natural Power extends beyond analytics alone. The capability supports projects from early-stage development, through construction, commissioning, and into long-term operations and asset management providing essential data that underpins a holistic approach to supporting renewable energy projects It also has growing application within technical due diligence, helping to inform investment decisions by identifying risk, opportunity and optimisation potential at both turbine and wind farm level.

In his new role, Ollie has been tasked with reinvigorating and shaping the delivery of Natural Power’s APE service, working collaboratively across advisory, due diligence, operations and analytics teams. Over the coming months, he will focus on evolving how advanced engineering insight is applied consistently and practically across the business to deliver greater value for clients.

Ollie joins Natural Power from Reoptimize Systems, where he led aerodynamics and mechanical engineering work on advanced control and performance optimisation solutions, delivering measurable gains in energy yield and load reduction across operating wind fleets. He is a Chartered Engineer and holds a PhD in wind energy systems modelling.

Commenting on his appointment with the team, Ollie said: “I’m thrilled to be joining such a strong team of technical experts and industry leaders at Natural Power. My background in modelling and control, combined with the team’s knowledge and experience of operational turbines, provides the foundations to enhance and expand the services that we can offer. I’m excited to help shape and evolve the APE offering and contribute to the next phase of innovation in the wind industry.”

Natural Power | www.naturalpower.com   

Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, has completed a successful dispatching season of a first-of-its-kind distributed power plant partnership with Pacific Gas and Electric Company (PG&E). More than 1,000 Sunrun customers’ storage-plus-solar systems exported energy to alleviate local grid constraints, with the goal of helping PG&E avoid or defer distribution upgrades while generating net savings for all utility customers.

“Sunrun’s groundbreaking program with PG&E shows that distributed power plants can help communities avoid the high cost of adding more poles and wires to accommodate load growth,” said Sunrun CEO Mary Powell. “We saw time and time again that our customers’ batteries delivered location-specific load relief with high precision and consistent performance. Only Sunrun has this ability to quickly scale both large and bespoke distributed power plant programs with a variety of offtakers.”

Sunrun’s Local PeakShift Power distributed power plant is part of PG&E’s Seasonal Aggregation of Versatile Energy (SAVE) program. After testing from April to June 2025, the distributed power plant dispatched more than 50 times from July through October 2025, when local demand neared system capacity, totaling more than 1,200 dispatching hours. Sunrun customers with storage-plus-solar systems who live near or are connected to more than two dozen constrained power lines and substations in PG&E’s service area were enrolled in the program.

“Being able to provide energy to my local neighborhood just makes a lot of sense,” said Sunrun customer Tom Weldon, whose San Jose home sits near a constrained power line. “When heat waves arrive, we know that our batteries are going to help out when the grid is stressed. It’s something I feel really good about.”

A post-season program evaluation report by Demand Side Analytics found that Sunrun’s battery groupings closely followed PG&E’s dispatching instructions and kept electrical loads below the operating limits at all of the power lines and substations. Each location received different instructions based on machine learning, forecasted weather, and daily distribution system load forecasts. The batteries demonstrated a high degree of dispatch predictability and consistency—sending electricity to the correct location at the correct time during nearly 99% of events.

“Going into this project, we already knew that distributed energy resources could help meet systemwide peak electricity demand and put broad downward pressure on peak prices,” Powell added. “This program demonstrated that dispatching home batteries can also be a targeted tool to help avoid costly upgrades on the distribution network.”

“Working with partners like Sunrun is a win for our customers, our electric grid and California as a whole. This program shows how customers can help improve local grid reliability as we support the state’s growing need for energy,” said Patti Poppe, CEO of PG&E Corporation.

Due to customer interest, PG&E expanded Sunrun’s initial participation in the program from 600 customers to more than 1,000 during the enrollment period. Sunrun customers enrolled in Local PeakShift Power received $150 per battery for sharing their stored solar energy with their communities, while Sunrun was compensated for coordinating the battery dispatches. Sunrun’s collaboration with PG&E supports the development of long-term programs to meet the California Energy Commission’s load-shifting goals while also enhancing local reliability.

With more than 217,000 residential battery systems across the country, Sunrun can support both non-wires alternative types of distribution and system-wide distributed power plant programs. Sunrun’s grid services platform and subscription model allow for flexibility when it comes to enrolling customers in different programs in order to achieve the highest value for the company, its customers, and the grid.

Sunrun I www.sunrun.com

Pacific Gas and Electric Company | https://www.pge.com/

Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation, energy security and smart city infrastructure and HEVO Inc., a New York–based leading developer and provider of patented Rezonant wireless charging hardware and the Journey software platform, announced the launch of their combined technology solution providing the first integrated autonomous wireless charging system powered by the EV ARC off grid, rapidly-deployed, solar-powered EV charging infrastructure product. The system is ideal for the rapidly growing autonomous vehicle (AV) sector and adaptable to a wide range of commercial electric vehicle (EV) fleet applications where charging vehicles without relying on humans to plug them in is beneficial. The solution is commercially viable today and generating strong interest from AV operators, government agencies and commercial fleet customers in the United States (U.S.), the United Arab Emirates (UAE) and other international markets.

The combination integrates HEVO’s patented Rezonant UL certified and SAE qualified wireless charging hardware and Journey™ software platform with Beam Global’s rapidly deployable, patented, off-grid EV ARC charging infrastructure product. There are thousands of Beam’s EV ARC systems deployed globally, providing grid independent, construction free charging infrastructure. Beam Global also holds a U.S. patent covering a wireless/inductive EV charging system powered by renewable energy. Together, the companies are offering a turnkey plug and play charging package that enables fully automated charging without trenching, utility interconnection or manual intervention. AVs currently rely on human beings to plug them in to chargers making even the most capable AVs reliant on human intervention for their operations. The Beam Global/HEVO solution makes AVs fully autonomous and powered entirely by reliable, scalable and free renewable energy. 

Beam Global and HEVO are advancing commercial rollouts with select international customers and will also conduct a series of joint demonstrations in the coming months to showcase the integrated platform’s capabilities. The companies will jointly demonstrate autonomous EVs equipped with HEVO’s Rezonant wireless charging hardware operating on Beam Global’s off-grid charging systems at select sites in the U.S. and the UAE.

With President Donald Trump’s administration signaling support for accelerating AV deployment through streamlined federal permitting and reduced regulatory barriers to commercial rollout, the U.S. policy environment is expected to become increasingly favorable for AV innovation. At the same time, Abu Dhabi, where Beam Global recently opened Beam Middle East has announced its intention to lead the world in the roll-out of AVs. The UAE AV market is forecast to reach approximately $2.7 billion by 2030, representing a compound annual growth rate of 19.2% from 2025 to 2030, further reinforcing strong global momentum for scalable, infrastructure ready AV charging solutions such as the Beam Global/HEVO platform.

“Beam’s patented wireless charging coupled with HEVO’s market leading technology is a natural and essential combination for AVs,” said Desmond Wheatley, CEO of Beam Global. “We are delighted to be working with HEVO and are enthusiastic about bringing this solution to market. With current deployments in the Middle East and autonomous mobility a strong focus for us, this collaboration aligns directly with our global growth strategy and continued technology leadership in our fields. Together with HEVO, we are delivering a market-ready solution that removes the barriers of grid dependency, civil work and manual charging. We are already seeing strong interest from customers around the world, and our upcoming demonstrations will highlight how this integrated platform accelerates commercial adoption.”

“Autonomous fleets are not autonomous if charging is not automated, resilient and immediately deployable,” said Jeremy McCool, Founder and CEO of HEVO. “Our patented Rezonant wireless charging hardware and Journey software platform, integrated with Beam Global’s EV ARC systems, deliver exactly that. This market-ready solution is already resonating with customers globally. The deployments we are jointly executing show how wireless charging and off grid solar plus storage infrastructure unlock the full potential of autonomous mobility and support broader EV fleet electrification.”

The integrated Beam–HEVO solution is designed to support real world autonomous fleet operations today while also meeting the needs of broader EV fleet customers seeking resilient, construction free charging. Key capabilities include:

• Rapidly deployed, autonomous, wireless, hands-free charging for electric and autonomous vehicles
• Rapidly deployed, autonomous solar-plus-storage charging infrastructure requiring no construction or grid connection
• Automated charging workflows that eliminate human intervention
• Compatibility with any AV or EV
• A scalable platform that supports AV fleets, municipal fleets, logistics fleets and campus mobility systems
• Significant infrastructure and operating cost reductions through the avoidance of construction, electrical, utility and human resource costs
• 24 hours up time and dark operations immune to human scheduling restraints

Beam Global and HEVO have launched a coordinated global marketing effort promoting the integrated platform to AV developers, commercial fleet operators, government agencies and strategic partners. Early engagement has produced significant inbound interest and real-world deployments are in process, especially from organizations deploying or evaluating autonomous fleets for logistics, policing, campus mobility and smart city applications.

Beam Global | https://beamforall.com/

HEVO I https://hevo.com/

Recurrent Energy, a subsidiary of Canadian Solar, Inc. (“Canadian Solar") (NASDAQ: CSIQ), and a leading global developer, owner, and operator of solar and energy storage assets, announced that it has completed the sale of its 200 MWh Fort Duncan Battery Storage facility to Hunt Energy Network, L.L.C. ("Hunt Energy Network"). Canadian Solar expects to recognize the revenue from the transaction in the first quarter of 2026.

Located in Maverick County, Texas, Fort Duncan Battery Storage reached commercial operation in June 2025. The company previously announced that it had secured $183 million in project financing and tax equity for the storage facility.

Fort Duncan Storage operates on a merchant basis and has established itself as a top-performing standalone battery energy storage system in the ERCOT South load zone, providing critical grid support and reliability services to the South Texas region. Fort Duncan Storage's strong performance track record is backed by battery energy storage systems supplied by Canadian Solar's e-STORAGE division.

Hunt Energy Network is an affiliate of one of the largest privately held energy companies in the United States with a large, international, and diversified presence. It started growing its battery storage portfolio four years ago and, with the purchase of Fort Duncan, now owns and operates 420 MW of battery storage facilities.

Pat Wood III, Executive Chairman of Hunt Energy Network, said, "We are fully committed to dramatically growing our presence within ERCOT, and this acquisition is a strong step towards achieving that goal. We appreciate the collaboration with Recurrent on this transaction, and we look forward to operating this asset for many years."

Ismael Guerrero, CEO of Recurrent Energy, added, "We are very pleased to complete the sale of Fort Duncan Storage to Hunt Energy Network. The project has demonstrated exceptional performance and has become a reliable and responsive asset for the Texas grid. This transaction is an important milestone in our strategic initiative to selectively monetize projects to support our continued growth."

Recurrent Energy | www.recurrentenergy.com

Canadian Solar | www.canadiansolar.com

The AES Corporation (NYSE: AES) announced agreements for energy generation that will be co-located with a new Google data center in Wilbarger County, Texas. These energy projects and powered land will enable Google to quickly expand its operations to meet demand for core services that people and businesses use every day, as AES continues to deliver cost-effective and innovative solutions to support this growth. With today's announcement, AES and Google are expanding their long-standing partnership to meet Google's energy, reliability, and affordability goals.

Capitalizing on its extensive development expertise, AES secured the land and interconnection agreements and will build the necessary shared electricity infrastructure for the co-located facility. In addition, the two companies entered into 20-year Power Purchase Agreements (PPA) for co-located power generation. AES will own and operate the generation assets in addition to providing retail, cost optimization and related services to Google's Wilbarger County data center campus under a long-term energy management agreement.

"Our expanded partnership with Google demonstrates how AES can accelerate data center development by delivering powered land and energy at scale," said Andrés Gluski, AES President and CEO. "AES is recognized as a world leader in providing energy solutions to technology companies. To-date, AES has signed agreements for nearly 12 GW of energy with data center customers, 9 GW of these are PPAs directly with hyperscalers."

"Google's data centers are long-term investments in the communities we call home, and our new site in Wilbarger County will be no exception," said Amanda Peterson Corio, Google Global Head of Data Center Energy. "In partnership with AES, we are bringing new clean generation online directly alongside the data center to minimize local grid impact and protect energy affordability. We are also pairing this new power with advanced air-cooling to eliminate operational water use, ensuring Texas remains both sustainable and resource abundant."

AES is the leading clean energy provider for US corporations, according to BloombergNEF's (BNEF) Corporate Energy Market Outlook, which ranked AES as a top provider to corporate customers over the last five years.

AES has a track record of deploying large infrastructure projects that benefit communities, while meeting the needs of its customers and enhancing grid reliability, affordability, and sustainability. The facilities announced today will support rural landowners, expand job opportunities, and contribute to local economies in the surrounding region.

AES | www.aes.com