Ideal Power to Sample B-TRAN™ Bi-Directional Power Switches with Top 10 Global Automaker
July 20 2021 - 8:30AM
Ideal Power Inc. (Nasdaq: IPWR), pioneering the development
and commercialization of highly efficient and broadly patented
B-TRAN™ bi-directional power switches, today announced that a top
10 global automaker will be sampling B-TRAN™ devices for electric
vehicle (EV) drivetrain, power conversion, circuit protection and
other EV applications. This represents Ideal Power’s first sampling
announcement in the EV space, already the largest segment in the $6
billion power switch market, a market forecasted to grow to $11
billion by 2026.
After substantial technical and commercial
briefings on B-TRAN™ and its capabilities, the global automaker
will bring resources from their advanced technology engineering
team to test and evaluate B-TRAN™ and its driver for EV
applications. The feedback and data from this testing will be
shared with Ideal Power for incorporation into our commercial
intelligent power module and potentially custom modules for EV
applications.
“We are excited to make the first of what we expect to be
several announcements for the evaluation and potential adoption of
B-TRAN™ for electric vehicle applications,” stated Dan Brdar,
President and Chief Executive Officer of Ideal Power. “Based on our
discussions with large global automobile manufacturers and their
Tier 1 suppliers, we believe B-TRAN™ can have a meaningful impact
on the drivetrain efficiency and range of electric vehicles and
potentially enable more economic and efficient new drivetrain
architectures. As B-TRAN™ can offer substantial performance
improvements over conventional power semiconductors in applications
across many sectors, we are also engaged in ongoing engineering
sampling discussions with power equipment manufacturers, both large
and small, in renewable energy, data centers and other industrial
and utility applications.”
Ideal Power’s patented semiconductor power switch, the
Bi-directional Bipolar Junction Transistor, or B-TRAN™, reduces
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 OEM products. B-TRAN™ offers the industry’s only symmetric
bi-directional operation, reducing the number of components
required for application by 75% as compared to a conventional
bi-directional switch utilizing IGBTs and diodes. This highly
efficient and unique symmetric operation provides a strong
competitive advantage in bi-directional applications, which are
growing rapidly as transportation electrifies and power generation
shifts to renewable energy coupled with energy storage.
About Ideal Power Inc.Ideal Power
(NASDAQ: IPWR) is pioneering the development of its broadly
patented bi-directional power switches, creating highly efficient
and ecofriendly energy control solutions for electric vehicle,
electric vehicle charging, renewable energy, energy storage, UPS /
data center and other industrial and military applications. The
Company is focused on its patented Bi-directional, Bi-polar
Junction Transistor (B-TRAN™) semiconductor technology. B-TRAN™ is
a unique double-sided bi-directional AC switch able to deliver
substantial performance improvements over today's conventional
power semiconductors. Ideal Power believes B-TRAN™ modules will
reduce conduction and switching losses, complexity of thermal
management and operating cost in medium voltage AC power switching
and control circuitry. For more information, visit
www.IdealPower.com.
Forward-Looking Statements
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. 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 Ideal Power’s 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 risks and
uncertainties associated with market conditions, our expectation
that we will have several announcements for the evaluation and
potential adoption of B-TRAN™ for EV applications and the expected
performance benefits of B-TRAN™ in EV applications, as well as
risks and uncertainties set forth in Ideal Power’s quarterly,
annual and other reports filed with the SEC. Furthermore, Ideal
Power operates 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. Ideal
Power disclaims any intention to, and undertakes no obligation to,
update or revise forward-looking statements.
Ideal Power Investor Relations
Contact: LHA Investor RelationsCarolyn Capaccio,
CFAT: 212-838-3777IdealPowerIR@lhai.com
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