Welcome to our dedicated page for Ideal Pwr news (Ticker: IPWR), a resource for investors and traders seeking the latest updates and insights on Ideal Pwr stock.
Ideal Power Inc. (Nasdaq: IPWR) is a manufacturing-sector company focused on B-TRAN® bidirectional semiconductor power switches for electric vehicles, data centers, renewable energy, energy storage, and industrial and military applications. This news page aggregates company press releases and market updates so readers can follow how Ideal Power’s technology and commercial roadmap are progressing over time.
Recent news highlights include quarterly financial results, operational milestones and customer engagements. Ideal Power regularly reports on its B-TRAN® commercial roadmap, such as shipping solid-state circuit breaker prototypes and reference designs, collaborating with multiple global Tier 1 automotive suppliers, and securing a purchase order from Stellantis for custom B-TRAN® devices targeting several EV applications. Updates also cover increases in the published power rating of the discrete B-TRAN® product and plans for corresponding changes to the SymCool® power module.
Investors and industry observers can use this feed to track announcements related to EV contactor and solid-state circuit breaker programs, participation in investor conferences, and developments in Ideal Power’s patent estate across North America, Asia and Europe. The news flow also includes information on leadership changes, such as the appointment of David Somo as President and Chief Executive Officer, and details on scheduled conference calls and webcasts discussing quarterly results.
By reviewing Ideal Power’s news on a regular basis, readers can see how the company’s B-TRAN® technology is being evaluated by global automakers, Tier 1 suppliers and power management companies, and how these engagements translate into design wins, development programs and product-level advancements.
Ideal Power has secured a multi-unit order for its SymCool® IQ intelligent power modules from a customer specializing in circuit protection and power conversion solutions. The customer, who previously ordered SymCool® power modules and drivers, is interested in implementing these modules across various end markets including electric vehicles, EV charging, renewable energy, and data centers.
The SymCool® IQ, rated at 1200V and 200A, features integrated intelligent driver technology and builds upon the bidirectional B-TRAN® multi-die packaging design. Compared to IGBT modules, it offers advantages such as lower losses, inherent bidirectionality, and integrated protection features. The module comes in a standard 62-millimeter industrial power semiconductor package.
Ideal Power (NASDAQ: IPWR) reported Q3 2024 financial results, highlighting progress in their B-TRAN™ commercialization. Key developments include securing orders from a Global Tier 1 automotive supplier, collaborating with a third global automaker, and adding two new distributors - RYOSHO and Sekorm. The company reported cash and cash equivalents of $18.7 million, with operating expenses of $2.9 million and a net loss of $2.7 million. Notable achievements include increasing SymCool® power module current rating by 25% and expanding their patent portfolio to 90 issued B-TRAN™ patents. The company continues its collaboration with Stellantis and has initiated third-party automotive qualification testing.
Ideal Power (NASDAQ: IPWR) has announced its upcoming third quarter 2024 financial results conference call scheduled for November 14, 2024, at 10:00 AM Eastern Time. CEO Dan Brdar and CFO Tim Burns will host the call, which will include a Q&A session. The company will release its Q3 2024 results before the call. Additionally, Ideal Power will participate in the iAccess Alpha Best Ideas Winter Virtual Conference on December 10-11, 2024, featuring a presentation webcast and one-on-one investor meetings.
Ideal Power (NASDAQ: IPWR) has received orders from a global Tier 1 automotive supplier listed on NYSE. The customer ordered multiple B-TRAN™ devices, a SymCool® power module, a solid-state circuit breaker evaluation board, and a driver for EV contactor applications. The company is leveraging its success with Stellantis to engage other auto OEMs and Tier 1 suppliers. The high-power EV contactor market is projected to reach $3.7 billion in 2025, with solid-state contactors potentially capturing half of this market due to their advantages over electromechanical contactors, including faster action, improved safety, and lower costs.
Ideal Power Inc. (Nasdaq: IPWR) has initiated third-party automotive qualification and reliability testing of its B-TRAN™ bidirectional semiconductor power switch. This marks a significant milestone in the company's commercialization roadmap. The testing aims to demonstrate compliance with automotive standards, which are the most stringent reliability standards for power semiconductor devices.
Prior to this, Ideal Power successfully conducted a critical subset of reliability tests on packaged B-TRAN™ devices, both in-house and at a third-party site. These tests focused on extreme environmental conditions, high electrical and thermal stress, blocking voltage, and shock testing. All devices packaged by their commercial partner passed these tests, indicating a robust B-TRAN™ packaging design.
The full automotive qualification and reliability testing process requires over a thousand packaged B-TRAN™ devices from multiple wafer runs. It includes extensive power cycling, thermal cycling, blocking voltage, shock and vibration testing, and visual inspection. Successful completion of this testing is expected in the first half of 2025.
Ideal Power Inc. (Nasdaq: IPWR) has announced a distribution agreement with Sekorm Advanced Technology (Shenzhen) Co., for its products throughout China. This marks Ideal Power's third distributor agreement, expanding its global reach in the commercialization of its B-TRAN™ bidirectional semiconductor power switch technology.
Sekorm, known for its expertise in demand creation and strong technical sales capability in China, will focus on B-TRAN™ target industrial and automotive markets. This partnership aims to secure orders potentially leading to design wins and custom development agreements.
Ideal Power now has agreements with three distributors: Richardson Electronics, for global distribution; RYOSHO U.S.A, INC. for global distribution with strength in Japan; and Sekorm for distribution in China. The company employs an asset-light business model, leveraging existing silicon processing, distribution, and support infrastructure while focusing on B-TRAN™ technology improvements and commercialization.
Ideal Power Inc. (Nasdaq: IPWR) reported its Q2 2024 financial results, highlighting significant commercial progress for its B-TRAN™ technology. Key developments include:
1. Collaboration with a third global automaker
2. Addition of a second global distributor
3. Qualification of a second high-volume production fab
4. Secured orders from multiple industry leaders
Financial highlights:
- Cash used in operations: $2.2 million in Q2 2024
- Cash and equivalents: $20.1 million as of June 30, 2024
- Commercial revenue: $1,331 in Q2 2024
- Net loss: $2.7 million in Q2 2024
The company remains on track to achieve its 2024 milestones and anticipates more commercial announcements in the coming months.
Ideal Power Inc. (Nasdaq: IPWR) has announced a global distribution agreement with RYOSHO U.S.A, INC., a subsidiary of RYODEN This partnership marks a significant step in the commercialization of Ideal Power's B-TRAN™ bidirectional semiconductor power switch technology. RYOSHO has already placed orders from a large global customer interested in Ideal Power's products for solid-state circuit protection applications.
Dan Brdar, President and CEO of Ideal Power, highlighted the importance of adding a second distributor with RYOSHO's strong technical sales team and global reach, particularly in Asia. The company maintains an asset-light business model, focusing on B-TRAN™ technology improvements and commercialization while minimizing capital requirements.
Ideal Power Inc. (Nasdaq: IPWR) announces a collaboration with a third global automaker to evaluate B-TRAN™-enabled contactors for potential use in electric vehicles (EVs). This engagement follows previous collaborations with Stellantis and another Top 10 global automaker. The focus is on replacing electromechanical contactors with solid-state alternatives in EVs.
Key points:
- B-TRAN™ technology offers low conduction losses and bidirectionality, making it suitable for EV contactors
- The high-power EV contactor market is projected to reach $3.7 billion by 2025
- Solid-state contactors provide faster action, improved safety, reliability, and programmable settings
- Potential for solid-state contactors to replace over half of the electromechanical contactor market in EVs
Ideal Power Inc. (Nasdaq: IPWR), a company developing the B-TRAN™ bidirectional semiconductor power switch, has announced its second quarter 2024 results conference call scheduled for August 14, 2024, at 10:00 AM Eastern Time. The call will be hosted by CEO Dan Brdar and CFO Tim Burns, featuring a Q&A session. Investors can submit questions in advance or during the live call.
Key details include:
- Toll-free dial-in: 877-545-0523
- International dial-in: 973-528-0016
- Participant Access Code: 861514
The call will be webcast live and available for replay on the company's investor relations website. An audio replay will be accessible until August 28, 2024. Additionally, Ideal Power plans to present at the LD Micro 17th Annual Main Event Conference in Los Angeles on October 29, 2024.
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