Ideal Power Adds Global Power Conversion Supplier to its B-TRAN(TM) Test and Evaluation Program

Rhea-AI Summary

Ideal Power Inc. announces agreement with a global power conversion and energy storage supplier to test and evaluate B-TRAN power semiconductors for its products, aiming to improve energy efficiency and reduce operating costs. The initial feedback from other program participants is overwhelmingly positive. Ideal Power plans to continue adding potential customers to the test and evaluation program.

Positive

• Agreement with global supplier presents multiple opportunities for Ideal Power
• Positive feedback from other program participants

Negative

• None.

AUSTIN, TX / ACCESSWIRE / September 26, 2023 / Ideal Power Inc. ("Ideal Power," the "Company," "we," "us" or "our") (Nasdaq:IPWR), pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch, today announced a European-based global power conversion and energy storage supplier with over $500 million in annual sales entered into an agreement with Ideal Power to test and evaluate B-TRAN™ power semiconductors for its static switches in data center UPS systems, solar inverters, and energy storage products. Their focus is on improving energy efficiency in these products to reduce operating costs for their customers.

"We are very excited to add a global power conversion supplier in diverse power markets to the roster of the B-TRAN™ test and evaluation program," said Dan Brdar, President and Chief Executive Officer of Ideal Power. "This global supplier presents multiple opportunities for us as they address three of our target markets: UPS systems for data centers, renewable energy and energy storage. We look forward to gathering their feedback on their application-specific requirements to drive our product roadmap and to potentially secure a product development or other commercial agreement with them. Initial feedback from other program participants to date is overwhelmingly positive."

Ideal Power plans to continue adding potential customers to the test and evaluation program. The program is expected to remain an embedded process in the Company's sales and marketing effort and a source of input for its next generation of products. The Company's outreach continues to generate significant new interest resulting in inquiries from potential customers about B-TRAN™, the SymCool™ power module and participation in the test and evaluation program.

Ideal Power's patented semiconductor power switch, the B-TRAN™, can reduce power losses by 50% or more over conventional power switches, depending on the application. B-TRAN™'s higher efficiency results in less heat being generated and therefore significantly lower thermal management requirements, requiring significantly smaller surface area to dissipate heat and giving rise to potentially smaller original equipment manufacturer products. B-TRAN™ offers the industry's only symmetric bidirectional operation, reducing the number of components required for an application by 75% compared to a conventional bidirectional switch utilizing IGBTs and diodes. This highly efficient and unique symmetric operation provides a strong competitive advantage in bidirectional applications, which are growing rapidly as transportation electrifies and power generation shifts to renewable energy coupled with energy storage. For more information on B-TRAN™, visit here.

About Ideal Power Inc.

Ideal Power (NASDAQ:IPWR) is pioneering the development and commercialization of its broadly patented bidirectional semiconductor power switch, creating highly efficient and eco-friendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS/data center, solid-state circuit breaker and other industrial and military applications. The Company is focused on its patented Bidirectional, Bipolar Junction Transistor (B-TRAN™) semiconductor technology. B-TRAN™ is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over today's conventional power semiconductors. Ideal Power's B-TRAN™ can reduce conduction and switching losses, complexity of thermal management and operating cost in AC power switching and control circuitry. For more information, visit the Company's website at www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook.

Safe Harbor Statement

All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While Ideal Power's management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Such forward-looking statements include, but are not limited to, statements regarding the potential for the Company to secure product development or other commercial agreements from this test and evaluation program participant. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the success of our B-TRAN™ technology, including whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents, our inability to predict with precision or certainty the pace and timing of development and commercialization of our B-TRAN™ technology, including the timing of the completion of our wafer fabrication runs with our semiconductor fabrications partners, the rate and degree of market acceptance for our B-TRAN™, the impact of global health pandemics on our business, supply chain disruptions, and the expected performance of future products incorporating our B-TRAN™, and uncertainties set forth in our quarterly, annual and other reports filed with the Securities and Exchange Commission. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements, except as required by applicable law.

Ideal Power Investor Relations Contact:

Jeff Christensen
Darrow Associates Investor Relations
jchristensen@darrowir.com
703-297-6917

SOURCE: Ideal Power

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