Power Solutions International, Inc..
PSIX.US | Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
Power Solutions International, Inc. (PSI) designs, engineers, manufactures, and markets a broad range of industrial-grade, alternative fuel power systems. These power systems are used in a variety of applications, including stationary power (power generation, combined heat and power), industrial (fo...Show More
Better Health for All
-50
Power Solutions International (PSI) manufactures industrial engines, which are not directly related to health products or services. However, the company's products are used in critical operations within the healthcare industry.
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In 2024, PSI's net research, development, and engineering expenditures were $20.1 million.
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The company achieved a Total Recordable Incident Rate (TRIR) of 4.418 and a Days Away, Restricted or Transferred (DART) rate of 3.96 in 2024.
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PSI utilizes National Institute of Standards and Technology (NIST) guidance for cybersecurity, continuously enhances policies and procedures, and engaged a third party to conduct phishing and penetration tests in 2024.
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The company limits third-party access to necessary information.
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PSI prohibits employees from being under the influence of alcohol or controlled substances in the workplace and reserves the right to test for such substances.
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The company provides technical support and training to its customers, including in-plant, web, and phone-based field service.
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Fair Money & Economic Opportunity
0
Power Solutions International, Inc. (PSIX.US) designs, engineers, manufactures, and markets industrial-grade, alternative fuel power systems.
1
The company's core business activities do not involve lending, insuring, moving, or storing money, nor does it offer consumer financial products or services.
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As such, all Key Performance Indicators (KPIs) under the 'Fair Money & Economic Opportunity' value are not applicable to PSIX.US, as these metrics are designed to assess financial institutions and their impact on financial inclusion and economic opportunity for marginalized populations.
Fair Pay & Worker Respect
-30
None of the company's workforce is represented by a union or covered by a collective bargaining agreement.
1
The Total Recordable Incident Rate (TRIR) for 2024 was 4.418.
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Voluntary turnover for salaried employees in 2024 was approximately 9.5%.
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The company resolved investigations by the United States Attorney’s Office and the SEC into past revenue recognition practices, resulting in a $1.7 million civil penalty to the SEC.
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Fair Trade & Ethical Sourcing
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No evidence available to assess Power Solutions International, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
0
No evidence available to assess Power Solutions International, Inc. on Honest & Fair Business.
Kind to Animals
0
No evidence available to assess Power Solutions International, Inc. on Kind to Animals.
No War, No Weapons
-80
PSI conducts an annual Conflict Minerals Survey, distributing it to 282 production suppliers for the 2024 reporting period.
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However, the company states it is unable to determine the origin of 3TG in its products and cannot exclude the possibility that some originated in Covered Countries, classifying its products as "DRC conflict undeterminable."
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The survey response rate was 70% (198 out of 282 suppliers), with 84 suppliers not responding.
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While PSI reviews supplier responses, it has not found it necessary to terminate any contracts or replace suppliers due to conflict minerals.
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Senior management is briefed on due diligence results, but there is no evidence of board-level oversight of defense-related activities.
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PSI is committed to sourcing responsibly and considers mining activities that fuel conflict unacceptable, but its humanitarian procurement policy is rarely enforced as evidenced by the inability to determine conflict mineral origin.
6
Planet-Friendly Business
0
No evidence available to assess Power Solutions International, Inc. on Planet-Friendly Business.
Respect for Cultures & Communities
-20
PSIX.US has one formal indigenous partnership, STCI Power Solutions, established in 2023 with the STC Industrial Group.
1
This is less than the 3-5 partnerships required for a -50 score, leading to a -100 score as it falls below the lowest defined positive threshold. The company was founded by the seven member Nations of the Saskatoon Tribal Council, suggesting a high level of participation in its founding, but specific FPIC processes or participation rates are not explicitly mentioned.
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The company's founding by the Saskatoon Tribal Council suggests community governance inclusion, but no specific percentage of representation on governance or advisory bodies is provided.
3
Safe & Smart Tech
0
No evidence available to assess Power Solutions International, Inc. on Safe & Smart Tech.
Zero Waste & Sustainable Products
-60
The company defines and supports activities related to hazardous waste management and recycles used oil, antifreeze, metal processing coolants, and lubricants.
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PSI also reduced loaded hot testing of large displacement engines, which reduces fuel consumption, and encourages employees to separate waste and recyclable materials.
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The company's power systems are tested and validated to meet quality, safety, durability, and environmental standards.
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PSI has not reported any waste disposal violations in the past three years.
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The company's manufacturing operations are undergoing transformation through the adoption of lean, agile, and flexible lines, which provides opportunities for improved efficiency.
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However, there are no formal waste reduction targets, nor are there waste-related requirements for suppliers.
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Additionally, no information is provided on proper disposal or recycling options for customers.
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