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Ideal Power Inc. (NASDAQ: IPWR) is at the forefront of energy innovation with its groundbreaking Bidirectional, Bipolar Junction Transistor (B-TRAN™) technology. The company has revolutionized power conversion markets by creating highly efficient and eco-friendly energy control solutions. These solutions span across multiple sectors, including electric vehicles (EVs), renewable energy, energy storage, smart grids, and industrial applications. Based in Austin, TX, Ideal Power has developed a universal power converter platform that leverages its patented Power Packet Switching Architecture™ (PPSA) and is known for significantly enhancing the weight, size, cost, efficiency, and reliability of electronic power converters.
Ideal Power’s product range includes solar inverters, bi-directional battery, and EV chargers, all built on a lightweight, universal power converter platform. The company’s B-TRAN™ technology, a double-sided bidirectional AC switch, offers substantial performance improvements over conventional power semiconductors. This technology can reduce conduction and switching losses, simplify thermal management, and lower operating costs in AC power switching and control circuitry.
A recent milestone for the company includes an agreement with Richardson Electronics, Ltd. for the global distribution of its B-TRAN™ devices and SymCool™ power modules, which are now shipping to customers. These products are expected to spark a sales ramp in industrial markets, particularly in solid-state circuit breakers, starting in the second half of 2024.
Ideal Power maintains an asset-light business model, focusing on technology development while minimizing capital expenditures. The company’s products have been recognized for their ability to reduce power losses by 50% or more, making them highly attractive for a variety of applications, including renewable energy inverters, hybrid and EVs, and EV charging systems.
Beyond its technological advancements, Ideal Power has also broadened its manufacturing capabilities by qualifying a second high-volume wafer fabrication supplier in Europe. This dual sourcing strategy ensures ample capacity to meet anticipated customer demand and supports future revenue growth.
For further information about Ideal Power and its innovative solutions, visit www.IdealPower.com.
Ideal Power (NASDAQ: IPWR) has secured its first design win for solid-state circuit breakers (SSCBs) with a major Asian circuit protection equipment manufacturer. The company signed a joint development agreement for an SSCB product using multiple B-TRAN® devices, with completion targeted for Q2 2025 and commercial sales following later that year.
The initial product could generate revenue of several hundred thousand dollars in the first year and potentially exceed $1 million in the second year. The customer, which currently sells over 200,000 circuit breakers annually in Asia, selected B-TRAN® over SiC MOSFETs due to its ultra-low conduction losses and inherent bidirectionality. The overall opportunity could lead to sales of a million units per year based on customer projections.
Ideal Power (Nasdaq: IPWR) announces its participation in the iAccess Alpha Buyside Best Ideas Winter Virtual Conference on December 10-11, 2024. The company, known for developing the B-TRAN® bidirectional semiconductor power switch, will deliver a presentation webcast on December 10 at 11:30 AM ET, followed by one-on-one investor meetings on December 11.
The live, interactive webcast and slide presentation will be available on the company's Investor Relations website under the Events tab, with the webcast being archived for future viewing. Conference attendees can register and request one-on-one virtual meetings with Ideal Power management for December 11.
Ideal Power has secured a multi-unit order for its SymCool® IQ intelligent power modules from a customer specializing in circuit protection and power conversion solutions. The customer, who previously ordered SymCool® power modules and drivers, is interested in implementing these modules across various end markets including electric vehicles, EV charging, renewable energy, and data centers.
The SymCool® IQ, rated at 1200V and 200A, features integrated intelligent driver technology and builds upon the bidirectional B-TRAN® multi-die packaging design. Compared to IGBT modules, it offers advantages such as lower losses, inherent bidirectionality, and integrated protection features. The module comes in a standard 62-millimeter industrial power semiconductor package.
Ideal Power (NASDAQ: IPWR) reported Q3 2024 financial results, highlighting progress in their B-TRAN™ commercialization. Key developments include securing orders from a Global Tier 1 automotive supplier, collaborating with a third global automaker, and adding two new distributors - RYOSHO and Sekorm. The company reported cash and cash equivalents of $18.7 million, with operating expenses of $2.9 million and a net loss of $2.7 million. Notable achievements include increasing SymCool® power module current rating by 25% and expanding their patent portfolio to 90 issued B-TRAN™ patents. The company continues its collaboration with Stellantis and has initiated third-party automotive qualification testing.
Ideal Power (NASDAQ: IPWR) has announced its upcoming third quarter 2024 financial results conference call scheduled for November 14, 2024, at 10:00 AM Eastern Time. CEO Dan Brdar and CFO Tim Burns will host the call, which will include a Q&A session. The company will release its Q3 2024 results before the call. Additionally, Ideal Power will participate in the iAccess Alpha Best Ideas Winter Virtual Conference on December 10-11, 2024, featuring a presentation webcast and one-on-one investor meetings.
Ideal Power (NASDAQ: IPWR) has received orders from a global Tier 1 automotive supplier listed on NYSE. The customer ordered multiple B-TRAN™ devices, a SymCool® power module, a solid-state circuit breaker evaluation board, and a driver for EV contactor applications. The company is leveraging its success with Stellantis to engage other auto OEMs and Tier 1 suppliers. The high-power EV contactor market is projected to reach $3.7 billion in 2025, with solid-state contactors potentially capturing half of this market due to their advantages over electromechanical contactors, including faster action, improved safety, and lower costs.
Ideal Power Inc. (Nasdaq: IPWR) has initiated third-party automotive qualification and reliability testing of its B-TRAN™ bidirectional semiconductor power switch. This marks a significant milestone in the company's commercialization roadmap. The testing aims to demonstrate compliance with automotive standards, which are the most stringent reliability standards for power semiconductor devices.
Prior to this, Ideal Power successfully conducted a critical subset of reliability tests on packaged B-TRAN™ devices, both in-house and at a third-party site. These tests focused on extreme environmental conditions, high electrical and thermal stress, blocking voltage, and shock testing. All devices packaged by their commercial partner passed these tests, indicating a robust B-TRAN™ packaging design.
The full automotive qualification and reliability testing process requires over a thousand packaged B-TRAN™ devices from multiple wafer runs. It includes extensive power cycling, thermal cycling, blocking voltage, shock and vibration testing, and visual inspection. Successful completion of this testing is expected in the first half of 2025.
Ideal Power Inc. (Nasdaq: IPWR) has announced a distribution agreement with Sekorm Advanced Technology (Shenzhen) Co., for its products throughout China. This marks Ideal Power's third distributor agreement, expanding its global reach in the commercialization of its B-TRAN™ bidirectional semiconductor power switch technology.
Sekorm, known for its expertise in demand creation and strong technical sales capability in China, will focus on B-TRAN™ target industrial and automotive markets. This partnership aims to secure orders potentially leading to design wins and custom development agreements.
Ideal Power now has agreements with three distributors: Richardson Electronics, for global distribution; RYOSHO U.S.A, INC. for global distribution with strength in Japan; and Sekorm for distribution in China. The company employs an asset-light business model, leveraging existing silicon processing, distribution, and support infrastructure while focusing on B-TRAN™ technology improvements and commercialization.
Ideal Power Inc. (Nasdaq: IPWR) reported its Q2 2024 financial results, highlighting significant commercial progress for its B-TRAN™ technology. Key developments include:
1. Collaboration with a third global automaker
2. Addition of a second global distributor
3. Qualification of a second high-volume production fab
4. Secured orders from multiple industry leaders
Financial highlights:
- Cash used in operations: $2.2 million in Q2 2024
- Cash and equivalents: $20.1 million as of June 30, 2024
- Commercial revenue: $1,331 in Q2 2024
- Net loss: $2.7 million in Q2 2024
The company remains on track to achieve its 2024 milestones and anticipates more commercial announcements in the coming months.
Ideal Power Inc. (Nasdaq: IPWR) has announced a global distribution agreement with RYOSHO U.S.A, INC., a subsidiary of RYODEN This partnership marks a significant step in the commercialization of Ideal Power's B-TRAN™ bidirectional semiconductor power switch technology. RYOSHO has already placed orders from a large global customer interested in Ideal Power's products for solid-state circuit protection applications.
Dan Brdar, President and CEO of Ideal Power, highlighted the importance of adding a second distributor with RYOSHO's strong technical sales team and global reach, particularly in Asia. The company maintains an asset-light business model, focusing on B-TRAN™ technology improvements and commercialization while minimizing capital requirements.
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