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Polar Power, Inc. (NASDAQ: POLA) shares started trading Wednesday on a downward slope. The Gardena, Calif.-based company, a global provider of prime, backup, solar hybrid power, and microgrid solutions announces that its DC generator, solar PV inverters, batteries, and controls were seamlessly integrated and installed at a United Nations High Command for Refugees (UNHCR) facility in Nigeria. Assisting Polar Power on this project were Leonics Ltd. (supplying inverters and lithium batteries), Biohenry Ltd. (providing installation and maintenance services), and the Greening and Sustainability Team at UNHCR.
Polar Power’s unique “microgrid” power system for grid connected application ensures continuous power for critical operations during blackouts and can also reduce the utility cost when installed with the solar option. During frequent and long duration outages, this microgrid can provide businesses with the necessary continuity by providing continuous power to refrigeration, computers, lighting, water pumping, and communications equipment.
CEO Arthur Sams commented, “Besides the huge fuel savings from up to a 70% reduction in diesel, another advantage of Polar Power’s online uninterruptable power supply (UPS) with the DC generator and solar PV array is the complete shielding of application loads from the grid’s power fluctuations and interruptions. Lastly, the solar PV array is designed to operate efficiently with a small footprint, providing additional installation and operating benefits, especially in remote areas. These advantages from our microgrid solution collectively present huge operating cost savings and reliability improvement.”
POLA shares lost eight cents, or 14.3%, to 48 cents.
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