Pioneer Power Solutions Set To Purchase Select AAER Assets

Fort Lee, N.J.-based Pioneer Power Solutions Inc. (PPSI), a manufacturer of liquid-filled, encapsulated and ventilated transformers for utility, industrial and commercial applications, has executed an agreement to acquire certain assets of Quebec-based AAER Inc., a manufacturer of megawatt-sized wind turbines.

Under terms of the agreement, PPSI will acquire most of the inventory, capital assets, intangible assets and intellectual property of AAER for C$450,000. The acquisition is expected to close June 7. Upon closing, AAER will be renamed Pioneer Wind Energy Systems Inc.

‘We will address the smaller wind projects where orders are expected to be in the range of one to five turbines,’ says Nathan Mazurek, chairman and CEO of PPSI. ‘Our goal is to reach an operating run rate of delivering between 50 to 100 turbines per year within the first three years.’

PPSI will offer a variety of wind energy systems, including the 1 MW stall-controlled, three-bladed wind turbine designed for performance in different climates and geological conditions, and a 1.5 MW wind turbine that offers maximum availability in various wind conditions, according to the company.

In addition, the company will provide the A-1650 wind turbine, which is an upgraded version of the A-1500. The A-2000 wind turbine features a superposition gearbox concept with variable speed ratio.

SOURCE: Pioneer Power Solutions Inc. Â Â Â

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