AUSTIN,
Texas, Aug. 8, 2024 /PRNewswire/ -- 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 announces an agreement with
RYOSHO U.S.A, INC. ("RYOSHO"), a
subsidiary of RYODEN CORPORATION (TSE: 8084), for the global
distribution of Ideal Power's products. RYOSHO has already placed
orders with Ideal Power from a large global customer interested in
the Company's products for solid-state circuit protection
applications.
"This is a significant development in the commercialization of
our B-TRAN™ technology as we add a second distributor for our
products. RYOSHO has a strong technical sales team with expertise
in securing sales for new technologies and global reach, with
particular strength in Asia. We
look forward to collaborating with RYOSHO to secure additional
orders that may potentially lead to design wins and/or custom
development agreements," said Dan
Brdar, President and Chief Executive Officer of Ideal
Power.
Ideal Power utilizes an asset-light business model leveraging
the large investment already made in silicon processing,
distribution, demand creation and support infrastructure. This
business model allows the Company to continue focusing on
disruptive B-TRAN™ technology improvements and commercialization
while minimizing capital requirements.
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
ecofriendly 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.
About RYOSHO U.S.A.,
INC.
RYOSHO U.S.A. was established
in January 1999 in California's Silicon Valley, with a focus on
discovering cutting-edge technologies and partners. Since then, we
have been supporting the supply of semiconductor and other
electronic components to Japanese companies. In recent years, we
have also ventured into the business of factory automation
equipment and equipment installation. Currently, we are serving our
customers from four locations: San
Jose, Atlanta, Indianapolis, and Detroit, with flexibility to meet our
customers' requests. As our business environment is going
through significant transformations, RYOSHO U.S.A. leverages the diverse range of products
and support network of the RYODEN Group to expand into markets such
as the automotive and industrial equipment sectors to provide
valuable propositions to our customers. Going forward, our motto is
to respond promptly with enthusiasm and sincerity, and we will
continue to strive to be your best solution partner.
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 our collaboration with RYOSHO leading to
additional orders that may potentially lead to design wins and/or
custom development agreements. 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
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SOURCE IDEAL POWER INC.