Polar Power Reduces Pinnacle Bank Debt to $1.667 Million

GARDENA, Calif., Sept. 08, 2026 /CourierPR/ -- Polar Power, Inc., a global provider of prime, backup, and renewable power solutions, has significantly reduced its debt to Pinnacle Bank, cutting its outstanding balance from approximately $4.7 million to $1.667 million. The company announced that it has achieved this progress through a series of strategic financial maneuvers, with the remaining balance expected to be fully repaid by the end of September 2026.

According to Arthur Sams, Chairman and CEO of Polar Power, the company has made substantial strides in reducing its leverage, which he attributes to the $3.033 million reduction in debt. Sams commented, "Reducing our Pinnacle Bank debt from approximately $4.7 million to $1.667 million represents meaningful progress in strengthening our balance sheet." He added, "Looking specifically at the period since June 30, 2026, the balance has declined from approximately $2.7 million to approximately $1.7 million currently. We currently expect to repay the remaining balance by the end of September, which would eliminate Pinnacle debt and further improve our financial flexibility."

The company's focus on reducing leverage and improving liquidity has been a key strategy. Sams elaborated, "Our focus has been on reducing leverage, improving liquidity, and positioning the Company to invest in opportunities that can support long-term growth. With approximately two-thirds of our Pinnacle Bank debt already repaid, we are making significant progress toward that objective."

Polar Power designs, manufactures, and sells direct-current power generators, renewable energy systems, and other power solutions for applications including telecommunications, drone defense, robotics, EV charging, micro-grids, military, and commercial markets. The company's continued efforts to reduce its financial obligations are part of a broader strategy to enhance its financial flexibility and focus on revenue growth, new products, and strategic expansion.

By the end of September 2026, Polar Power aims to fully repay its remaining debt to Pinnacle Bank, which would significantly improve its financial position. The company believes this will allow management to allocate more resources to growth opportunities across its traditional markets and emerging applications such as data center power infrastructure, defense systems, and advanced DC power solutions.