AUSTIN,
Texas, Dec. 4, 2024 /PRNewswire/ -- Ideal Power
Inc. (Nasdaq: IPWR) ("Ideal Power," the "Company," "we," "us"
or "our"), pioneering the development and commercialization of the
highly efficient and broadly patented B-TRAN® bidirectional
semiconductor power switch, today announced that the Company
secured a multi-unit order for its SymCool® IQ intelligent power
module from a customer that specializes in the development and
manufacture of circuit protection and power conversion
solutions.
The customer previously ordered multiple SymCool® power
modules and drivers. They are interested in SymCool® and
SymCool® IQ modules for solid-state circuit protection and power
conversion solutions across their product lines focused on several
end markets including electric vehicles, electric vehicle charging,
renewable energy, and data centers.
"This multi-unit order for our SymCool® IQ is a significant
milestone in the commercialization of our B-TRAN® technology.
SymCool® IQ opens up additional markets for us including renewable
energy, energy storage and electric vehicle charging. This customer
is evaluating SymCool® IQ for use in pairing renewable energy with
energy storage to take advantage of both the improved efficiency
and bidirectionality of our technology," stated Dan Brdar, President and Chief Executive Officer
of Ideal Power.
SymCool® IQ builds on the bidirectional BTRAN® multi-die
packaging design of the Company's SymCool® power module and adds an
integrated intelligent driver optimized for bidirectional
operation. The SymCool® IQ, rated at 1200V and 200A, has
significant advantages compared to IGBT modules, including lower
losses and inherent bidirectionality. For OEM customers
incorporating SymCool® IQ into their products, these advantages
translate to increased energy savings, lower product operating
costs, and significantly lower thermal management requirements
resulting in more compact and lower cost solutions. The addition of
an integrated intelligent driver in the SymCool® IQ provides
protection features such as overcurrent protection, undervoltage
protection and temperature sensing. OEM customers will also
recognize its popular 62-millimeter package as it is a standard for
industrial power semiconductor packaging.
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.
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 this customer being interested in
SymCool® and SymCool® IQ devices for solid-state circuit protection
and power conversion solutions across their product lines focused
on several end markets including electric vehicles, electric
vehicle charging, renewable energy, and data centers. 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, 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.