Polar Power Inc

Polar Power, Inc. designs, manufactures, and sells direct current (DC) power generators, renewable energy systems, and cooling systems. Its offerings include DC base, hybrid, and solar hybrid power systems, as well as mobile power systems, along with global network management, aftermarket and service parts, and product and warranty services. The company serves the telecommunications, military, commercial, industrial, and marine markets, selling through a direct sales force and independent service providers and dealers. It was formerly known as Polar Products, Inc., changed its name to Polar Power, Inc. in October 1991, was incorporated in 1979, and is based in Gardena, California.

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Polar Power secures up to $25 million committed equity facility

Polar Power has entered into a committed equity facility with Roth Principal Investments that allows the company to raise up to $25 million by selling shares over time. The facility gives Polar Power the discretion to issue common stock to Roth Principal Investments, with net proceeds intended for working capital and general corporate purposes including expansion of its DC power systems business across markets such as data center power and cooling, drone charging systems, EV charging, micro and nano grids, robotics, telecommunications, and military applications. The stock price jumped about 42% on Monday after hours of trading.

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