Polar Power Receives Trial Order for 50 Propane-Fueled DC Generators from Major Southeast Asian Telecom Operator

The wider rollout remains uncommitted, while propane distribution is essential to the program's success.

Rhea-AI Summary

Polar Power (POLA) received a trial order for 50 propane-fueled DC generators from a Southeast Asian telecom operator.

The generators will power off-grid and bad-grid cell sites. The trial could lead to a five-year program covering approximately 2,500 of the customer's sites, but the customer has not committed to broader deployment. Discussions have begun on a next phase of 200 generators. Based on current estimated system pricing, the potential program could generate up to approximately $60 million in revenue over five years. Individual generators range from $19,000 to $27,000, depending on accessories and service options.

Polar purchased approximately 2,000 Toyota 1KS engines to support potential volume growth and previously wrote down approximately $4 million of usable engine inventory. A local LPG distributor expects a contract from its customer to fuel each site for six years; Polar says the distributor's participation is essential to the program.

5 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Potential five-year program could generate up to approximately $60 million in revenue, based on current estimated system pricing. 11× market cap
• Moderate point50 propane-fueled generators ordered for a Southeast Asian telecom operator's trial.
• Moderate pointApproximately 2,000 Toyota 1KS engines purchased to support potential volume growth.
• Minor pointGenerator prices range from $19,000 to $27,000 each, depending on accessories and service options.
• Minor point. Forward-looking: it has not happened yet and may not happen.Polar expects use of previously written-down engine inventory may support improved margins as volumes ramp.

Negative

• Major pointApproximately $4 million of usable engine inventory was previously written down. 74% of market cap
• Moderate pointBroader deployment across approximately 2,500 sites remains uncommitted by the customer.
• Minor point. Forward-looking: it has not happened yet and may not happen.A local LPG distributor's participation is essential; it expects a contract from its customer to fuel the sites.

Argus 15 min delay 24 alerts

-1.59% vs previous close $1.24 last price 1226.2x rel. volume Open Argus

Details

Market Reaction – POLA

+10.9% Peak Tracked

-18.3% Trough Tracked

$1.12 – $1.52 Day Range

$5.34M Market Cap

On Sep 29, the day this news came out, the latest delayed price for POLA is 1.59% below the previous close. Argus tracked a peak move of +10.9% during the session. Argus tracked a trough of -18.3% from its starting point during tracking. Our momentum scanner has recorded 24 alerts for this stock so far that day. The latest delayed price is $1.24. Relative volume is exceptionally heavy at 1226.2x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Market Context

POLA had high short positioning at generation time, a market-structure backdrop to this trial order;...

Analysis

POLA had high short positioning at generation time, a market-structure backdrop to this trial order; the customer had not committed to broader deployment, so the potential rollout remained distinct from a secured multi-year program.

Key Figures

Trial order: 50 generators Potential program duration: 5 years Potential customer sites: Approximately 2,500 sites +3 more

Trial order

50 generators

Propane-fueled DC generators ordered by a Southeast Asian telecom operator

Potential program duration

5 years

Potential deployment program; not committed by the customer

Potential customer sites

Approximately 2,500 sites

Potential scope of the deployment program

Next-phase discussions

200 generators

Discussions have begun; no order stated

Potential revenue

Up to approximately $60 million

Over five years if broader deployment proceeds

Generator price range

$19,000 to $27,000 each

Depends on accessories and service options

Key Terms

lpg, opex, permanent magnet alternator

3 terms

lpg technical

"modernizing telecom power with LPG and DC systems"

Liquefied petroleum gas (LPG) is a flammable mix of light hydrocarbons, stored as a liquid under modest pressure and used for heating, cooking, industrial processes, and as vehicle fuel. Investors watch LPG because its supply, price and storage costs affect energy companies, utilities and manufacturers that rely on it—think of it as the bottled fuel that heats homes and powers equipment, so changes in availability or price can influence earnings and inflation-sensitive sectors.

opex financial

"lowering total site OPEX"

Operating expenses (often abbreviated opex) are the day-to-day costs a company incurs to run its business, such as employee pay, rent, utilities, and routine marketing. For investors, opex matters because higher or rising operating costs reduce profits and cash available for growth or dividends, while lower or well-controlled opex can indicate better efficiency—think of it as a household’s monthly bills that determine how much is left to save or invest.

View in glossary

permanent magnet alternator technical

"a high-efficiency permanent magnet alternator"

A permanent magnet alternator is an electrical generator that uses fixed permanent magnets on the rotor instead of electromagnets to create the magnetic field that induces alternating current in the stator windings. Investors care because these machines are typically smaller, more efficient, and require less maintenance than traditional alternators, affecting product performance, operating costs, lifespan, and capital spending for companies that make or use them—think of a quieter, simpler engine that needs fewer moving parts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Initial order potential first step to a multi-year deployment program.

GARDENA, Calif., Sept. 29, 2026 (GLOBE NEWSWIRE) -- Polar Power, Inc. (Nasdaq: POLA) (“Polar” or the “Company”), a designer and manufacturer of high-efficiency DC power systems for telecom and other mission-critical applications, today announced it has received a trial order for 50 propane-fueled DC generators from a major Tier 1 telecom operator in Southeast Asia. The generators will power off-grid and bad-grid cell sites.

The trial is the first phase of a potential five-year program that could cover approximately 2,500 of the customer's sites. Discussions between the Company and this customer have begun on the next phase of 200 propane generators. The customer has not committed to broader deployment. If it proceeds, and based on current estimated system pricing, the opportunity could represent up to approximately $60 million in revenue over five years. Polar’s DC Generator ranges from $19,000 to $27,000 each depending on accessories and service options.

The order follows the Company’s more than five years of work with telecom operators in the Asia-Pacific region, including vendor qualification, multiple rounds of technical evaluation, field testing, and operational reviews.

According to the TowerXchange’s Q2 2024 Asia Guide there are 426,967 telecom towers/sites across the eight Southeast Asian markets.

"This order is an important step toward modernizing telecom power with LPG and DC systems," said Arthur D. Sams, Chief Executive Officer of Polar. "We believe the combination of economic and environmental benefits will attract other operators and LPG distributors, whose participation could help accelerate our sales. Our expectation is that orders from other Telecom companies in this region will take months to close as opposed to years due to the large energy savings especially with the rising cost and theft of diesel fuel."

Product and expected benefits

Polar's DC generator combines its Supra^™ system controls and a high-efficiency permanent magnet alternator with Toyota 1KS prime power engines. Based on field experience, the Company estimates that:

• Fuel: The system uses approximately 40% less fuel than diesel AC generator solutions without solar. Paired with solar, savings have been demonstrated at 59% and higher.
• Maintenance: The oil change interval is approximately 4,500 hours, versus approximately 250 hours for standard diesel AC gensets, which reduces the cost of site visits.
• Operating cost: Because fuel is a large share of operating expense at off-grid and bad-grid sites, fuel savings has a meaningfully impact on lowering total site OPEX.
  

Supply readiness

Given long engine lead times, Polar has purchased approximately 2,000 Toyota 1KS engines to support potential volume growth. The Company previously wrote down approximately $4 million of usable engine inventory, and expects that using this inventory may support improved margins as volumes ramp. Polar’s large inventory of Toyota 1KS engines should help facilitate a rapid delivery of generators into emerging markets.

The economics is driving the sale

1. Fuel Savings. During the field trails Polar demonstrated 40% fuel savings. From field observation, diesel cost per site ranges from $960 to $2,400 per month. The estimated diesel cost does not include theft in the region of 15% to 25%. The net savings at 40% is $384 to $960 a month. Assuming a deployment of 2,500 sites, the annual saving ranges from $11M to $28M with Polar DC generators.
2. Maintenance savings. Scheduled maintenance service for a Diesel AC generator is 200 to 250 hours; so, running 12 to 24 hours a day will require 18 to 36 service trips a year. The Polar DC generator with the Toyota engine has a scheduled service maintenance of 4,500 hours requiring a maximum of 2 visits a year running 24 hours a year. The Company estimates that the cost is $100 to $150 per site visit for a Diesel AC generator, totaling between $1,800 to $5,400 per year per site, while maintaining a Polar DC generator costs $600 per year running 24/7. Assuming a deployment of 2,500 sites, the annual saving ranges from $3M to $12M with Polar DC generator.

Broader LPG opportunity

In addition, a major local LPG distributor expects to receive a contract from its customer to fuel each site for 6 years. Our telecom customer was concerned with getting propane to each site and the participation of a major LPG distributor was essential to the program success. The LPG distributor will benefit with a substantial increase in revenues as new wave of opportunity opens with power generation using LPG in place of diesel.

About Polar Power, Inc.

Polar Power, Inc. (NASDAQ: POLA) designs, manufactures and sells direct-current power generators, renewable energy systems and other power solutions for applications including telecommunications, drone defense, robotics, EV charging, micro-grids military and commercial markets. The Company is headquartered in Gardena, California.

For more information, please visit www.polarpower.com. or follow Polar Power on www.linkedin.com/company/polar-power-inc/.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the potential size, timing, and revenue of a broader deployment, customer adoption, expected fuel and cost savings, LPG distributor participation, and future margins. These statements involve risks and uncertainties, including but not limited to that the customer may not proceed beyond the trial, delays in telecom adoption cycles, pricing and competition, supply chain and inventory risks, and other factors described in the Company's SEC filings, including its most recent Form 10-K and 10-Q. Actual results may differ materially. The Company undertakes no obligation to update these statements except as required by law.

Media and Investor Relations
Polar Power, Inc.
249 E. Gardena Blvd.
Gardena, CA 90248
Tel: 310-830-9153
Email: ir@polarpowerinc.com
www.polarpower.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue could Polar Power's Southeast Asian telecom program generate?

The potential five-year program could generate up to approximately $60 million in revenue, based on current estimated system pricing. The customer has not committed to broader deployment beyond the trial order.