According to the Pier Solar HD blog, the submission process for the game has been underway for some time now. Magical Game Factory have successfully contacted Valve so those who subscribed to test the game with a beta key should keep their fingers crossed for more news on the Steam front soon.
In terms of a release on consoles, however, Pier Solar HD has run into roadblocks due to Microsoft's certification process. The blog states:
"Microsoft already evaluated Pier Solar... but we failed some internal requirements on the certification and we're correcting them for the next submission. This also impacts Wii U and PlayStation(s) submissions since we want to send it as clean as possible so that we don't get another failed certification...
Luckily, the process doesn't take as long as we thought, so the perspectives to getting a release date gets better. "
There is good news from this delay - the team behind Pier Solar HD have continued to make improvements/additions to the game, including extra side quests and multiple endings.