Key Highlights

● Polar Power received a trial order for 50 propane-fueled DC generators from a Tier 1 telecom operator in Southeast Asia.

● The company says the trial could start a five-year program covering about 2,500 sites, worth up to $60 million.

● Unit pricing ranges from $19,000 to $27,000, and discussions are under way for a second phase of 200 additional generators.

● The release says the customer has not confirmed any commitment to broader deployment, and the customer is not named.

Polar Power, Inc. (NASDAQ:POLA) announced on September 29, 2026 that it has received a trial order for 50 propane-fueled DC generators from a Tier 1 telecom operator in Southeast Asia. The company furnished the announcement under Item 7.01, Regulation FD Disclosure, of a Form 8-K, with the press release attached as Exhibit 99.1. The release says the trial could be the first phase of a five-year program covering about 2,500 sites, which at current estimated pricing the company puts at up to $60 million in Revenue over five years.

The Order and the Opportunity

The trial order is for 50 units. According to the release, discussions are under way for a second phase of 200 additional generators, and unit pricing ranges from $19,000 to $27,000 depending on accessories and service options. The release states that no commitment to broader deployment by the customer has been confirmed. The customer is not named, and the filing describes it only as a major Tier 1 operator that selected the generators to power off-grid and poor-grid cell sites.

The $60 million figure is the company's own estimate of what a full program could generate if it were executed at the size described and at current pricing. It is not a contracted amount, and the release says so in its cautionary language: the trial is not a commitment to the larger deployment. The release cites a Q2 2024 Asia industry guide for a count of 426,967 telecom towers and sites across eight Southeast Asian markets as context for the size of the regional market.

The Product and the Company's Case

Polar describes its DC generators as combining Supra system controls, high-efficiency permanent magnet alternators and Toyota 1KS prime power engines. The release claims about 40 percent less fuel consumption than diesel AC solutions, and up to 59 percent savings when paired with solar. It also says oil change intervals are 4,500 hours compared with 250 hours for diesel generator sets.

The release gives an economic argument for the customer. At 2,500 sites, with monthly diesel costs of $960 to $2,400 per site and noting that its diesel cost estimate does not include theft in the region of 15 to 25 percent, it estimates annual fuel savings of $11 million to $28 million. It puts annual maintenance at $600 per site for Polar units against $1,800 to $5,400 for diesel generator sets, a potential saving of $3 million to $12 million a year across the program. These figures are the company's estimates and assumptions, not results.

Supply is also addressed. Polar says it has purchased about 2,000 Toyota 1KS engines to support potential Volume growth and notes that it previously wrote down $4 million of usable engine inventory. The release adds that a major local LPG distributor expects to receive a contract from its customer to fuel each site for six years. Chief Executive Officer Arthur D. Sams is quoted as saying: "Our expectation is that orders from other Telecom companies in this region will take months to close as opposed to years due to the rising cost and theft of diesel fuel."

About Polar Power

Polar Power, based in Gardena, California, designs and manufactures direct-current power generators, renewable energy systems and power solutions for telecommunications, drone defense, robotics, EV charging, microgrids, military and commercial applications.

Polar Power's 50-Unit Trial Awaits a Second Phase

The release contains forward-looking statements about deployment size, timing, revenue, customer adoption, fuel savings, the LPG distributor's participation and future margins. It names risks that include the customer's lack of commitment beyond the trial, telecom adoption delays, pricing competition and Supply chain issues, and says actual results may differ materially.

The second phase of 200 generators is described only as under discussion. Indicators to follow include whether the trial converts into a larger purchase order, how the results of the trial are reported, and how the order is reflected in the company's next Quarterly Report on Form 10-Q. Until any expansion is signed, the filing describes a 50-unit trial and an estimated opportunity, not a contracted program.