Power Solutions International agrees ~$122M engine purchases
The contract sets delivery and payment terms through 2028 and permits discussion of a 2029 recovery mechanism if purchases fall below 90% of scheduled volume.
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Rhea-AI Filing Summary
Power Solutions International, Inc. (PSIX) amended its supply agreement with HD Construction Equipment Co., Ltd. for GV22TI 22-liter natural gas engine long blocks; agreed 2027 and 2028 volumes represent approximately $121.9 million in aggregate purchases. The amendment fixes the unit price for engines ordered and shipped on or before December 31, 2028, with no price increase unless both parties agree in writing.
PSIX will pay an advance equal to 10% of each year’s volume value: the 2027 advance is due by November 30, 2026, and the 2028 advance by June 30, 2027. HCE repays each advance through a 10% reduction to its invoices for products shipped during the applicable year. If purchases over the 24-month period are below 90% of scheduled volume, the parties will discuss and agree on a recovery mechanism that may include a 2029 price increase. The company also identifies its dependence on HCE and advance payments before related customer deposits as risks.
8-K Event Classification
Key Figures
Key Terms
engine long blocks technical
advance payment financial
recovery mechanism financial
annual forecast provision financial
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
On November 9, 2026, Power Solutions International, Inc. (the “Company”) entered into an amendment (the “Amendment”) to the Supply Agreement, dated December 11, 2007, as previously amended (the “Supply Agreement”). The Amendment, dated as of November 9, 2026, is with HD Construction Equipment Co., Ltd. (“HCE”). HCE is the successor to HD Hyundai Infracore Co., Ltd. (formerly known as Doosan Infracore Co., Ltd.) under the Supply Agreement. Under the Supply Agreement, the Company buys engine long blocks from HCE. The Company integrates them into its power systems products. The Amendment covers HCE’s GV22TI 22-liter natural gas engine long blocks for calendar years 2027 and 2028.
The Amendment fixes the unit price for GV22TI engine long blocks for all engines ordered and shipped on or before December 31, 2028. No price increase applies to those engines unless both parties agree in writing. At the fixed price, the agreed 2027 and 2028 volumes represent aggregate purchases of approximately $121.9 million. An exhibit to the Amendment sets the agreed monthly delivery schedule for GV22TI engine long blocks for calendar years 2027 and 2028.
Under the Amendment, the Company will pay HCE an advance payment equal to 10% of the total contract value of each year’s volume. The advance payment for the 2027 volume is due by November 30, 2026, and the advance payment for the 2028 volume is due by June 30, 2027. HCE will repay each advance payment through a 10% reduction to its invoices for products shipped during the applicable year. The parties may agree on reasonable measures if deliveries are delayed or delivery volumes are temporarily reduced.
If the Company’s actual purchases over the 24-month period are less than 90% of the scheduled volume, the parties will discuss and agree on a recovery mechanism, which may include a price increase applicable in 2029. For GV22TI engines shipped in 2027 and 2028, this provision replaces the annual forecast provision of the September 11, 2024, addendum to the Supply Agreement. In the Amendment, the parties also confirmed the assignment of the Supply Agreement to HCE, effective January 1, 2026, and ratified the Supply Agreement.
All other terms of the Supply Agreement remain in effect.
This summary of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment. The Company intends to file the Amendment as an exhibit to its Annual Report on Form 10-K for the year ending December 31, 2026, with certain portions omitted as permitted by Item 601(b)(10)(iv) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
On November 9, 2026, the Company issued a press release announcing the Amendment. A copy is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 7.01, including Exhibit 99.1, is furnished and is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly stated by specific reference in that filing.
Forward-Looking Statements
This Current Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, including statements about expected engine supply, purchase volumes, advance payments, and the Company’s ability to meet customer demand. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Those risks include the Company’s dependence on HCE as a supplier, delivery delays, changes in customer demand, the Company’s obligation to make advance payments before receiving related customer deposits, the possibility of a price increase in 2029 if the Company’s purchases fall below 90% of the scheduled volume, and the other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and its later filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release of Power Solutions International, Inc., dated November 9, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Power Solutions International, Inc. | ||||||
| Dated: November 9, 2026 | By: | /s/ Xun Li | ||||
| Xun Li | ||||||
| Chief Financial Officer | ||||||
Exhibit 99.1
Power Solutions International Strengthens Longstanding HD Construction
Equipment Partnership with Multi-Year Engine Supply Commitment
WOOD DALE, Ill., Nov. 9, 2026 (GLOBE NEWSWIRE) — Power Solutions International, Inc. (Nasdaq: PSIX) (“PSI”), a leader in the design, engineering, and manufacturing of advanced power solutions and state-of-the-art enclosures, today announced an amendment to its long-standing supply agreement with HD Construction Equipment Co., Ltd. (“HCE”), an affiliate of HD Hyundai. The amendment establishes multi-year engine supply commitments, reinforcing the companies’ established relationship and supporting PSI’s continued growth in the power generation market. This marks another step in the execution of PSI’s Power Boost 2030 vision and strategy.
The expanded supply commitment strengthens PSI’s supply chain, provides greater visibility into future production requirements, and supports increasing customer demand for reliable natural gas power solutions. PSI integrates the engine long blocks into its power systems for stationary power generation, supporting its growth in data centers and other critical infrastructure.
Demand for reliable power infrastructure continues to accelerate. Securing long-lead engine capacity is essential to meeting that demand. The agreement gives PSI price certainty and an agreed delivery schedule as it scales its integrated power systems and custom-engineered enclosures for mission-critical applications.
PSI’s supply relationship with HCE and its predecessors dates back to 2007.
Let’s power what’s next, together.
About Power Solutions International, Inc.
Power Solutions International, Inc. (Nasdaq: PSIX) is a leader in the design, engineering, and manufacturing of advanced, emissions-certified engines, power systems, and state-of-the-art enclosures. Serving the power systems, industrial, and transportation markets, PSI delivers innovative, reliable, and customized solutions to original equipment manufacturers and customers worldwide, including solutions supporting the rapidly growing data center market. For more information, visit www.psiengines.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the Company’s current expectations and assumptions regarding future events. Words such as “anticipate,” “believe,” “budget,” “contemplate,” “continue,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “outlook,” “plan,” “position,” “project,” “prospect,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in or implied by such statements.
Important factors that could cause actual results to differ materially include, without limitation: the Company’s dependence on HCE as a supplier and HCE’s ability to deliver engines on the agreed schedule; the level and timing of customer demand for the Company’s power systems, including data-center-related demand, and the conversion of orders into revenue; the Company’s obligation to make advance payments to HCE before receiving related customer payments; the possibility of a price increase in 2029 if the Company’s purchases fall below 90% of the scheduled volume; supply-chain disruptions, component availability and supplier performance; volatility in oil and gas prices and corresponding demand for related products; macroeconomic, regulatory and trade conditions, including U.S. tariffs and trade restrictions; and the other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in the Company’s subsequent filings with the U.S. Securities and Exchange Commission, all of which are incorporated by reference into this press release.
The Company’s forward-looking statements speak only as of the date of this release. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements.
Contact:
Power Solutions International, Inc.
Kenneth Li
Chief Financial Officer
630-284-9719
kli@psiengines.com