Ideal Power Announces Order from Forbes Global 500 Power Management Market Leader

AUSTIN, TX / ACCESSWIRE / April 30, 2024 / 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 that the Company received an order for SymCool power modules and drivers from one of the two Forbes Global 500 leaders in diverse power management markets in Ideal Power's B-TRAN test and evaluation program.

"We are delighted to announce this power management market leader in our test and evaluation program is now ordering SymCool power modules. This global customer is evaluating SymCool for use in its bidirectional solid-state circuit breaker products for diverse industrial markets," stated Dan Brdar, President and Chief Executive Officer of Ideal Power. "Strong momentum continues, and we look forward to design wins and/or custom development agreements for solid-state circuit breaker applications in industrial markets. We expect industrial markets to be the earliest source of our sales ramp beginning in the second half of 2024."

This global power management market leader is evaluating SymCool against IGBT modules for use in solid-state circuit breaker (SSCB) applications. The order for SymCool power modules follows the customer's testing of discrete B-TRAN devices as part of the B-TRAN test and evaluation program. Testing confirmed that the B-TRAN technology packaged into the multi-die SymCool power module has significantly lower conduction losses compared to conventional power semiconductors such as IGBTs, an advantage that is even more pronounced in bidirectional applications. In addition to energy savings, this improved efficiency also results in lower cost and less complex cooling systems, benefits that significantly impact the economics of OEM products such as SSCBs.

In response to this customer's requests, Ideal Power provided high-volume quotes for SymCool power modules. This customer may also evaluate our technology for its other power conversion applications.

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.