Polar Power Appoints Michael Field as Independent Director and Compensation Committee Chair

Core Insights - Polar Power, Inc. has appointed Michael Field as a new director and compensation committee chair, bringing four decades of experience in global manufacturing and equipment [1][2][4] - Field's background includes key roles at UTC Carrier Corporation, PRI Automation, and Brooks Automation, and he is currently the President and CEO of The Raymond Corporation [2][4] - The appointment fills a vacant board seat, increasing the number of independent directors to three [4] Company Overview - Polar Power is a global provider of prime, backup, and solar hybrid power solutions, focusing on innovative DC advanced power and cooling systems across various industrial applications [5] - The company's product portfolio includes solutions for telecom, military, renewable energy, marine, automotive, residential, commercial, oil field, and mining applications [5] - Polar Power's systems can operate on multiple energy sources, including photovoltaics, diesel, LPG, and renewable fuels [5] Technological Advancements - The company offers telecom power solutions that provide significant cost savings in installation, permitting, site leases, and operation [6] - Military solutions from Polar Power are designed to be compact, lightweight, fuel-efficient, and reliable for various applications, including robotics and drone communications [6] - The mobile rapid battery charging technology enables on-demand roadside charging for electric vehicles, while combined heat and power (CHP) residential systems optimize performance and costs [7] Market Positioning - Polar Power's micro/nano grid solutions aim to provide lower-cost energy in "bad-grid or no-grid" environments, enhancing energy accessibility [8] - The company's commitment to technological advancement includes hybrid propulsion systems for marine and specialty vehicles, focusing on efficiency, comfort, reliability, and cost savings [8]