Ideal Power Secures Order from a Fifth Global Tier 1 Automotive Supplier
Rhea-AI Summary
Ideal Power (NASDAQ: IPWR) has secured an order from a fifth global Tier 1 automotive supplier for its B-TRAN® technology, including packaged devices, SymCool® power modules, and solid-state circuit breaker reference design boards for EV contactor applications. The supplier has requested budgetary quotes for millions of SymCool® power modules.
The company is now engaged with three global automakers, including Stellantis, and five global Tier 1 auto suppliers. B-TRAN®-enabled solid-state contactors offer significant advantages over traditional electromechanical contactors, including faster operation, improved safety, and 50% reduction in semiconductor switches needed due to bidirectionality.
Positive
- Secured order from fifth global Tier 1 automotive supplier, expanding market reach
- Received budgetary quote request for millions of SymCool® power modules
- Growing engagement with 3 global automakers and 5 Tier 1 suppliers indicates strong market interest
- B-TRAN technology offers 50% reduction in semiconductor switches needed compared to alternatives
- Positioned to capture growing EV contactor market as industry transitions to solid-state solutions
Negative
- Actual volume orders not yet secured - current order is for evaluation units
- Market transition to solid-state contactors expected to take up to 5 years
- Faces competition from established electromechanical contactor manufacturers
Insights
Ideal Power's B-TRAN tech gains significant commercial traction with fifth Tier 1 auto supplier adopting their bidirectional semiconductor solution for EV applications.
Ideal Power has secured a meaningful commercial milestone with an order from a fifth global Tier 1 automotive supplier for their B-TRAN® technology. This order includes packaged devices, SymCool® power modules, and reference design boards for solid-state electric vehicle contactor applications. Most notably, the supplier has requested budgetary quotes for millions of SymCool® power modules, indicating serious consideration for large-scale deployment.
The technical advantages driving this adoption are substantial. B-TRAN®'s bidirectional capability reduces the semiconductor component count by 50% compared to conventional solutions, while delivering ultra-low conduction losses. In EV applications, these contactors operate orders of magnitude faster than traditional electromechanical versions, eliminating arcing and improving safety outcomes in crash scenarios.
This order demonstrates accelerating market validation beyond their previously announced relationships with Stellantis and other global automakers. With typically 5-8 contactors required per electric vehicle for critical safety and operational functions, the addressable market for B-TRAN® is substantial. The technology's unique bidirectional capabilities provide a competitive edge in the rapidly evolving EV power management space where the industry appears to be shifting away from mechanical contactors toward semiconductor-based solutions within the next five years.
"This order is a significant milestone in the commercialization of our B-TRAN® technology as it shows continued momentum with large, prospective customers for EV contactor applications. The benefits that B-TRAN® brings to solid-state EV contactors are similar to the benefits it brings to solid-state circuit breakers - very low conduction losses and bidirectionality. We are now engaged with three global automakers, including Stellantis, and five global Tier 1 auto suppliers. Our growing number of engagements with global automakers and their Tier 1 suppliers is indicative of the ongoing transition from legacy electromechanical contactors to solid-state circuit protection solutions and the benefits of B-TRAN® compared to other semiconductor technologies for these applications," said Dan Brdar, President and Chief Executive Officer of Ideal Power.
An EV contactor disconnects electric vehicle subsystems from the vehicle's battery during events such as crashes and faults, and when the vehicle or subsystem is being serviced or otherwise not operational. Contactors are essential for safety, controlling high-current and high-voltage loads to and from the battery. Several contactors, typically 5 to 8, are employed in an electric vehicle to disconnect the battery from electrical loads such as the motor drive, heating and cooling systems, and charging systems.
B-TRAN®-enabled solid-state contactors provide substantial benefits over electromechanical contactors. They operate orders of magnitude faster, effectively eliminating arcing and improving safety, and are more reliable as they do not contain physical contacts subject to wear and requiring maintenance. B-TRAN®-enabled solid-state contactors can provide programmable trip and current limit settings and built-in safety diagnostics. Benefits specific to B-TRAN® include ultra-low conduction losses, lower cost and a
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 and hybrid EV markets and that our growing number of EV contactor related engagements is indicative of an ongoing transition from legacy electromechanical contactors to solid-state circuit protection solutions and the benefits of B-TRAN® compared to other semiconductor technologies for these 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
What is the significance of Ideal Power's new order from the Tier 1 automotive supplier?
How many automotive partners is IPWR now working with?
What advantages does Ideal Power's B-TRAN® technology offer for EV contactors?
How many contactors are typically used in an electric vehicle?
When does IPWR expect solid-state contactors to surpass traditional electromechanical contactors?
