Ideal Power Adds Global Tier 1 Automotive Supplier to its B-TRAN™ Test and Evaluation Program
09 Marzo 2023 - 3:20PM
Ideal Power Inc. (Nasdaq: IPWR), pioneering the development
and commercialization of the highly efficient and broadly patented
B-TRAN™ bidirectional semiconductor power switch, has been
collaborating with a global Tier 1 automotive supplier. The
automotive supplier has now entered into an agreement with Ideal
Power to test and evaluate B-TRAN™ devices for its electric vehicle
(EV) inverter, bidirectional charging, and circuit protection
applications. The Tier 1 supplier is a leader in vehicle
electrification, EV systems, and clean mobility, with multi-billion
dollar annual revenue.
“We are very excited to announce the first test
and evaluation agreement of B-TRAN™ by a Tier 1 automotive supplier
for potential adoption in its EV sub-systems. This agreement builds
on our custom module development with a Top 10 global automaker,”
said Dan Brdar, President and Chief Executive Officer of Ideal
Power. “We plan to deliver B-TRAN™ samples for evaluation to the
Tier 1 automotive supplier in the second half of 2023. We will work
with this automotive supplier to understand their EV applications,
gain valuable feedback on their product requirements and to
potentially secure a product development or other commercial
agreement.”
Brdar continued, “B-TRAN™ has the potential to
displace conventional power semiconductor solutions in many
applications. We are executing our B-TRAN™ commercialization
roadmap in large markets including EV, EV charging, renewable
energy and energy storage, uninterruptible power supply (UPS)
systems for data centers, and solid-state circuit breakers.”
B-TRAN™ potentially offers distinct advantages
over other technologies in EV applications. After batteries, power
semiconductors are the second largest cost component of an EV and
typically make up 8-10% of the total electric vehicle production
cost. While SiC-based devices improve efficiency over traditional
silicon-based semiconductors, their very high cost compared to
silicon-based devices adds to the cost challenges of EVs. B-TRAN™
offers a lower cost alternative to SiC devices to improve
efficiency and vehicle range. In addition to these benefits,
B-TRAN™ offers a clear roadmap to incorporate the benefits of
silicon carbide as its cost and manufacturability profile improves
over time.
Ideal Power’s patented semiconductor power
switch, the Bidirectional 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 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 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 able to deliver substantial performance
improvements over today's conventional power semiconductors. Ideal
Power believes B-TRAN™ 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.
Safe Harbor StatementAll
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 adoption of B-TRAN™ by customers
and the timing of testing of our products. 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 ChristensenDarrow
Associates703-297-6917jchristensen@darrowir.com
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