Polar Power Inc. Engages CORE IR for Investor Relations and Shareholder Communications Services

CORE IR to Support Strategic Communications in Conjunction with Corporate Development Activities

GARDENA, Calif., Oct. 27, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup and solar hybrid DC power solutions, today announces it has retained CORE IR, a leading investor relations, public relations and strategic advisory firm, to assist the Company with investor relations and shareholder communications services.

Polar Power CEO, Arthur Sams, commented, “We believe that a strategic approach that articulates our near- and long-term business opportunities and financial model, has the potential to generate meaningful value for our company and our shareholders. We are excited about the opportunities that we see on the horizon for our company, and we are confident that Core IR’s experience and resources will help us communicate our unique and valuable technology platform to our stakeholders, present and future.”

CORE IR will focus on expanding market awareness for Polar Power, conveying the company's business model, market opportunity, and growth strategies to the institutional and retail investment communities, as well as with the public, at large. CORE IR, a boutique Investor and Public Relations and strategic advisory firm, specializes in leveraging the most effective investment, growth and exposure strategies for small to mid-sized publicly traded and privately held companies through an integrated approach to relationship development and corporate communications.

“CORE IR is a great fit for Polar Power, with a team of professionals that has decades of experience at the intersection of the industrial and technology sectors. We look forward to working with the Polar Power team to articulate an exciting growth story and communicating multiple avenues of growth in mobile EV charging, nano-grids, and solar hybrid markets. We look forward to a strong strategic partnership that facilitates improved communications and supports shareholder value creation,” added Scott Gordon, president of CORE IR.

About CORE IR

Headquartered in Garden City, New York, CORE IR is comprised of senior market and practice leaders with expertise in Institutional and Retail investor relations and integrated corporate communications and capital markets advisory services. CORE IR provides proprietary integrated Investor and Public Relations Solutions that yield targeted exposure for small to mid-sized companies. For more information, please visit www.coreir.com.

About Polar Power, Inc.

Gardena, California-based Polar Power, Inc. (NASDAQ: POLA), designs, manufactures and sells direct current, or DC, power systems, lithium battery powered hybrid solar systems for applications in the telecommunications market and, in other markets, including military, EV charging, cogeneration, distributed power and uninterruptable power supply. Within the telecommunications market, Polar Power’s systems provide reliable and low-cost energy for applications for off-grid and bad-grid applications with critical power needs that cannot be without power in the event of utility grid failure. For more information, please visit www.polarpower.com. or follow us onwww.linkedin.com/company/polar-power-inc/.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. With the exception of historical information, the matters discussed in this press release including, without limitation, Polar Power’s belief that the implementation and ongoing development of5G networks along with programs to develop the telecommunications infrastructure in rural and underdeveloped countries will continue to fuel the Company’s growth in the telecommunications market over the next five to ten years; Polar Power’s belief that Toyota prime power engines will provide strong opportunities for growth and diversification; Polar Power’s expectation that its line of EV chargers will be available in the year 2024; and Polar Power’s expectations that it’s large investments in inventory, including engines, will convert back to cash as product sales accelerate are forward-looking statements and considerations that involve a number of risks and uncertainties. The actual future results of Polar Power could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, adverse domestic and foreign economic and market conditions, including demand for its solar hybrid power systems and mobile EV chargers; trade tariffs on raw materials; changes in domestic and foreign governmental regulations and policies; the impact of inflation and changing prices on raw materials; supply chain constraints causing significant delays in sourcing raw materials; labor shortages as a result of the pandemic, low unemployment rates, or other factors limiting the availability of qualified workers; and other events, factors and risks. It undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond Polar Power’s control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in Polar Power’s reports filed with the Securities and Exchange Commission.

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Released October 27, 2023