GARDENA, California, June 02, 2026 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup and solar hybrid DC power solutions, today highlighted its financial results for its first quarter ended March 31, 2026, which the Company disclosed by its quarterly report on Form 10-Q with the Securities and Exchange Commission on May 20, 2026, and its recent operational progress. The quarter reflected substantial year-over-year gains in gross margin, operating results, and balance sheet strength, supported by a $3.7 million sales order backlog as of March 31, 2026.
Lithuanian electricity transmission system operator Litgrid AB (company code 302564383, registered office address Karlo Gustavo Emilio Manerheimo str. 8, Vilnius, Lithuania) has entered into a tripartite loan transfer agreement with UAB EPSO-G and the European Investment Bank (EIB). Under the terms of the agreement, UAB EPSO-G assumes a loan of €20 million that was granted under a loan agreement dated on 18 December of 2014, between Litgrid AB and the EIB, intended to finance the development of the Lithuania–Poland electricity interconnection. The original loan repayment date term was scheduled for the first half of 2031.