Arizona Tribune - PSWW Announces Commercial Breakthrough as First Customer Deposit Received for eTruck Class 8 Conversion as Fuel Prices Surge

DALLAS, TX / ACCESS Newswire / April 23, 2026 / Principal Solar, Inc. ("PSWW"), a strategic investor in eTruck Transportation ("eTruck"), today announced that eTruck has received a customer deposit for the sale of its first Class 8 hybrid vehicle conversion, representing a significant commercial milestone and a key validation of the eTruck's business model.

This initial deposit marks a pivotal moment in eTruck's evolution from development-stage platform to a potentially revenue-generating enterprise, providing early confirmation of market demand for its hybrid retrofit solution within the commercial trucking sector.

Milestone Transaction Validates Business Model

The receipt of a customer deposit for a Class 8 vehicle conversion represents first commercial validation of eTruck's value proposition in a real-world fleet environment. The transaction underscores growing operator interest in solutions that can materially reduce fuel costs without requiring full fleet replacement.

This milestone establishes a foundation for future conversion activity and supports the scalability of eTruck's retrofit-driven, asset-light approach.

Compelling Economics in a Volatile Fuel Environment

The timing of this transaction is particularly relevant given ongoing volatility and upward pressure in diesel fuel prices, which continue to represent one of the largest cost centers for fleet operators.

eTruck's hybrid system is designed to address this challenge directly by delivering:

• Up to 75% reduction in fuel costs

• Meaningful improvement in overall vehicle efficiency

• Rapid payback periods driven by immediate operating savings

In this environment, solutions that provide near-term cost relief and long-term margin expansion are increasingly prioritized by commercial fleets, reinforcing the attractiveness of eTruck's platform.

Pathway to Scalable Revenue Growth

With the initial customer deposit secured, eTruck is positioned to advance toward:

• Completion and delivery of its first converted Class 8 vehicle

• Expansion of production and installation capacity

• Development of repeatable fleet conversion programs

Royalty-Based Participation for PSWW

Principal Solar maintains a per-unit royalty agreement with eTruck, enabling:

• Direct participation in conversion volume growth

• Recurring, scalable revenue tied to deployment activity

• Exposure to upside without incremental operational burden

The initiation of commercial transactions marks the beginning of PSWW's revenue participation phase with eTruck, with future performance aligned to continued customer adoption.

Management Commentary

"We view the receipt of this initial customer deposit as a defining milestone for eTruck," said K. Bryce Toussaint, Chief Executive Officer of Principal Solar. "It not only marks the transition into commercial execution, but also validates the underlying business model in a market that is actively seeking cost-efficient solutions amid rising fuel prices."

"This is a meaningful step forward for our platform," said Judith J. Knudsen, CEO and Founder of eTruck Transportation and Russell A. Knudsen, President. "Customer commitment at this stage reflects both the economic value of our solution and the urgency fleet operators are feeling in today's fuel environment. We believe this positions us well for continued commercial momentum."

Strategic Positioning

eTruck's hybrid retrofit solution potentially addresses a critical gap in the energy transition by enabling:

• Immediate fuel cost reduction

• Lower emissions without infrastructure dependency

• Extension of existing fleet asset life

This practical, capital-efficient approach positions eTruck to capture demand in a large, underserved segment of the commercial transportation market.

Investor Contact

[email protected]
833.817.7148
K. Bryce Toussaint

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About Principal Solar, Inc.

Principal Solar, Inc. is focused on strategic investments in renewable energy and electrification platforms, with an emphasis on scalable, royalty-based revenue models.
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About eTruck Transportation

eTruck Transportation develops hybrid conversion solutions for Class 6-8 commercial vehicles, enabling fleet operators to reduce fuel consumption, lower emissions, and improve operating economics. See eTruck website at https://www.etruckus.com/
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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed transaction, anticipated benefits, market adoption, due diligence outcomes, integration planning, and future evaluation activities. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance. Principal Solar, undertakes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Actual outcomes may differ materially due to factors including the Company's ability to secure funding, negotiate and execute definitive agreements, satisfy closing conditions, complete due diligence, protect intellectual property, align technical systems, execute its business strategy, complete future transactions, integrate new operations, reduce liabilities, and respond to market, financial, regulatory, competitive, and technological conditions. This press release contains forward-looking statements regarding expected deployment timelines, fuel savings, and revenue potential. Actual results may differ materially due to operational, market, and regulatory factors.

No Offer or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws.

SOURCE: Principal Solar, Inc.

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