Ideal Power Announces Collaboration with Fourth Global Tier 1 Automotive Supplier
Rhea-AI Summary
Ideal Power (NASDAQ: IPWR) announced a collaboration with its fourth global Tier 1 automotive supplier to explore B-TRAN®-enabled contactors as replacements for electromechanical contactors in electric and hybrid vehicles. The company has shipped devices to multiple engineering teams within this supplier, which serves several top 10 global automotive OEMs.
The company's B-TRAN® technology offers significant advantages including ultra-low conduction losses, inherent bidirectionality, and faster response times compared to traditional electromechanical contactors. This marks IPWR's latest engagement alongside previously announced partnerships with three global automakers, including Stellantis, and three other Tier 1 auto suppliers.
Positive
- Expanded market reach with fourth Tier 1 automotive supplier collaboration
- B-TRAN technology offers superior performance with ultra-low conduction losses compared to competitors
- Strong industry validation through partnerships with multiple global automakers and suppliers
- Positioned to capture growing EV contactor market as solid-state solutions expected to dominate within 5 years
Negative
- Commercial revenue generation timeline remains uncertain
- Faces competition from established semiconductor device manufacturers
Insights
Ideal Power expands B-TRAN technology adoption with fourth Tier 1 auto supplier, strengthening position in emerging EV solid-state contactor market.
Ideal Power has secured a significant business development milestone by shipping its B-TRAN devices to a fourth global Tier 1 automotive supplier that serves multiple top 10 global automotive OEMs. This expands their reach beyond their previously announced engagements with three global automakers (including Stellantis) and three other Tier 1 auto suppliers.
The company's technology addresses a specific high-value application in the EV ecosystem – contactors that disconnect vehicle subsystems from the battery during crashes, faults, or when systems are inactive. A typical EV requires 5-8 contactors for various subsystems, representing multiple potential units per vehicle.
The technical advantages of B-TRAN-enabled solid-state contactors are compelling:
- Orders of magnitude faster activation than electromechanical alternatives, eliminating arcing hazards
- Enhanced reliability by eliminating physical wear points
- Ultra-low conduction losses compared to both traditional contactors and competing silicon carbide solutions
- Bidirectional functionality that reduces component count by half
- Programmable settings and built-in diagnostics
- Lower cost than silicon carbide alternatives
This collaboration signals growing industry validation for Ideal Power's technology. The company expects solid-state contactors to displace electromechanical versions in EVs within five years – positioning them at the front of an emerging technology transition in the rapidly growing EV market. The increasing engagement with multiple automotive giants suggests B-TRAN's value proposition is resonating with industry decision-makers who are actively seeking safer, more efficient contactor solutions.
"We are pleased to announce the recent shipment of devices to a fourth Tier 1 automotive supplier. It's exciting to witness the heightened levels of customer engagement and collaboration for solid-state EV contactors. B-TRAN®-enabled solid-state EV contactors are generating strong interest from global automotive OEMs and their Tier 1 suppliers due to the ultra-low conduction losses and inherent bidirectionality of our B-TRAN® technology. This represents another engagement for us with the world's leading automakers and suppliers as we previously announced engagements with three global automakers, including Stellantis, and three other Tier 1 auto suppliers," said Dan Brdar, President and Chief Executive Officer of Ideal Power.
A conventional EV contactor is an electromechanical device that disconnects electric vehicle subsystems from the vehicle's battery in the event of a crash or fault or when the vehicle or subsystem is not operational. Contactors are a vital safety feature to control high-current and high-voltage loads to and from the battery. Several contactors, typically 5 to 8, are used in an electric vehicle to disconnect the battery from loads such as the motor drive, heating and cooling systems, and charging systems. Automotive OEMs and their Tier 1 suppliers are looking at solid-state, or semiconductor-based, contactors as a fast acting, safer and more reliable solution for EV contactors with the added benefits of programmability and diagnostic capability.
B-TRAN®-enabled solid-state contactors provide several benefits over electromechanical contactors. They act orders of magnitude faster than electromechanical breakers, thereby eliminating arcing and improving safety, and are more reliable as they do not include physical contacts subject to wear. They have ultra-low conduction losses and are bidirectional, reducing the number of switches required in a solid-state EV contactor by half. In addition, they provide programmable settings for trip and current limits as well as built-in safety diagnostics. B-TRAN®-enabled contactors also provide significantly lower losses than EV contactors utilizing silicon carbide semiconductor devices at a lower cost. The Company believes that, within the next five years, solid-state contactors will surpass electromechanical contactors in the EV market.
About Ideal Power Inc.
Ideal Power (NASDAQ: IPWR) is the developer and innovative provider 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 our expectation that, within the next five years, solid-state contactors will surpass electromechanical contactors in the EV market and that B-TRAN®-enabled EV contactors will potentially replace electromechanical contactors in EV and hybrid EV applications. 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.
FAQ
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