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Ideal Power Inc. announced that it has priced its previously announced underwritten public offering of 2,000,000 shares of its common stock (or pre-funded warrants in lieu thereof) at an offering price of $7.50 per share of common stock. Ideal Power has granted the underwriter a 30-day option to purchase up to 300,000 additional shares of its common stock on the same terms and conditions. The Company expects to close the offering on March 28, 2024, subject to customary conditions.
Titan Partners Group, a division of American Capital Partners, is acting as sole book-running manager for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $15 million, before deducting underwriting discounts, commissions and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate and working capital purposes.
The offering is being made pursuant to an effective “shelf” registration statement on Form S-3 (File No. 333-269060) previously filed with the Securities and Exchange Commission (the “SEC”) on December 29, 2022, and declared effective by the SEC on January 9, 2023.
The securities may be offered only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Titan Partners Group, LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at prospectus@titanpartnersgrp.com.
Original – Ideal Power
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Decarbonization and digitalization are the two central challenges of our time, but they rely on new and advanced technologies. At embedded world 2024 in Nuremberg, Infineon Technologies AG will demonstrate how its innovative semiconductor solutions support and drive these advancements.
Microcontrollers in particular play an important role as they are at the heart of a wide range of applications, from electric vehicles and renewable energy systems to smart homes and industrial automation. For this reason, Infineon showcases high-quality microcontrollers designed with the latest technologies and innovative features such as enhanced security and high accuracy, offering excellent performance with low power consumption.
Under the motto “Driving decarbonization and digitalization. Together.” Infineon invites its customers to embedded world 2024 to demonstrate innovative semiconductor solutions that contribute to a more sustainable future. In addition, customers can register for Infineon’s digital platform – the perfect place to dive deeper into the various technologies presented at EW during and after the event. The Infineon booth in Hall 4A (booth #138) will present highlights from the consumer and IoT, automotive, and industrial sectors.
Consumer and IoT: With its broad portfolio of IoT solutions, Infineon supports manufacturers in providing consumers with more comfortable, secure, and energy-efficient homes and buildings by utilizing the company’s latest microcontroller, sensor, security, and connectivity solutions. In this area, visitors will discover:
- Robotics development platform: The platform includes hardware and software solutions for key robotics subsystems such as main and motor controllers, battery management systems and sensors, which enable developers to get robots up and running faster and easier.
- Better sleep quality with XENSIV™: Leveraging Infineon’s 60 GHz radar, PSoC™ and Wi-Fi® technologies, the XENSIV Sleep Quality Service is designed to measure and optimize the user’s sleep based on their individual needs.
- Simplifying air quality monitoring and optimizing energy efficiency with the new XENSIV PAS CO2 5V kits: The XENSIV PAS CO2 5V Sensor2Go kit provides developers with seamless CO 2 sensor integration and a plug-and-play solution. The effortless connection to the graphical user interface (GUI) allows users to accurately analyze CO 2 data in real time from multiple kits.
- Land a rocket on the Edge: This fun game demonstrates the PSoC Edge device’s ability to integrate multiple functions such as high-performance computing, graphics processing and display, acoustic activity recognition, speech recognition, sensing and gesture recognition with ML in the same chip and application.
Automotive: As a leading supplier of automotive solutions, Infineon focuses on making smart cars a reality with proven microcontroller, connectivity, security, and sensor technologies for the industry. The company’s microelectronics play a critical role in delivering zero-emission vehicles that are smart, connected, safe and reliable.
- AI-based siren recognition: Infineon showcases an autonomous car that recognizes emergency vehicles by their characteristic siren sound and reacts accordingly without violating traffic regulations. This system solution combines MEMS microphones, a microcontroller unit (MCU), and AI software from Imagimob.
- Next generation eMobility: Infineon enables next-generation vehicles with the AURIX™ TC4x microcontroller family and the AURIX Development Studio (ADS). With these solutions, manufacturers can easily implement modern ADAS, advanced automotive E/E architectures and affordable Artificial Intelligence (AI) applications.
- TRAVEO™ T2G Cluster 6M Lite Kit: With the TRAVEO T2G CYT4DL device prototypes can be implemented in the shortest possible time and at minimal cost.
Industrial: Infineon supports smart factories and provides manufacturers with a broad sensor portfolio and an extensive partner network. In this way, the company enables reliable data acquisition and processing that enables condition monitoring and predictive maintenance in various Industry 4.0 use cases:
- Predictive maintenance: In this sector, Infineon will present a portable HVAC system equipped with the XENSIV Predictive Maintenance Evaluation Kit. The demo includes a TinyML model and a cloud-based AI service solution generator.
At the Infineon booth, the company has set up a comprehensive series of TechTalks. The seven presentations will cover a wide range of different topics, from software to products, and from consumers to industry. Full details of all Infineon conference presentations, technical workshops and TechTalks can be found here.
Daily program of the Tech Talks
- “Ambient sensing: Infineon radar solutions: How Infineon’s tools and enablement can accelerate your time to market” at 10:00 a.m. presented by Firas Labidi
- “Embedded AI and safety – Embedded AI will enable the innovations for next generation of electric vehicle and autonomous driving” at 11:00 a.m. presented by Jürgen Schäfer
- “Accelerate your product development with system reference designs” at 12:00 p.m. presented by Jaya Bindra
- “Addressing the next generation of Edge AI devices with PSoC Edge” at 1:00 p.m. presented by Rebecca Phillips
- “TRAVEO T2G MCUs for automotive HD front lighting” at 2:00 p.m. presented by Maniacherry Devassy Anu
- “Unlocking the power of Edge AI with Imagimob and ModusToolbox™” at 3:00 p.m. presented by Alexander Samuelsson
- “Infineon’s solutions for robotics” at 4:00 p.m. presented by Nenad Belancic
Original – Infineon Technologies
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The Specialty Thin Film (STF) division of Vishay Intertechnology, Inc. announced that its Electro-Films (EFI) factory in Warwick, Rhode Island, has been certified to the IATF 16949:2016 quality standard for the IGBR family of back contact wirebondable gate resistors, designed to reduce noise in silicon carbide (SiC) MOSFET power modules.
Based on ISO 9001:2015 — with additional automotive customer-specific requirements — IATF 16949:2016 is the global technical specification and quality management standard for the automotive industry. With this certification, the quality management system at the EFI Warwick factory is now certified to ISO 9001:2015 for all products, and IATF 16949:2016 for IGBR resistors. In addition, its environmental management system is certified to ISO 14001:2015 and ISO 45001:2018.
Original – Vishay Intertechnology
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In the paper “Milliseconds Power Cycling (PCmsec) Driving Bipolar Degradation in Silicon Carbide Power Devices”, Sibasish Laha from Fraunhofer IISB and his co-authors Jürgen Leib, Andreas Schletz, Martin Maerz, Christian Liguda, Firas Faisal and Davood Momeni describe an innovative approach to silicon carbide (SiC) power cycling.
Until now, bipolar degradation (BD) tests have not been sufficiently differentiated in the investigation of failure and fault mechanisms for SiC power devices. SiC power products may experience voltage degradation which stems from the stacking faults (SFs) growth, commonly known as BD. To properly evaluate the BD impact on the electric performance of devices, it is important to distinguish it from other stress-related degradation such as power metal or interconnection.
This aspect has not yet been addressed, although the BD mechanism is well understood. The paper outlines a methodology by modifying the power cycling test (PCsec) to PCmsec in order to systematically investigate the effect of BD while controlling the impact of thermal degradation. This method enables a thorough evaluation of the distinct influences of both degradation contributors.
The complete paper will soon be available in the CIPS proceedings. Until then, feel free to download the paper presentation on event page.
There you can also find all our contributions to CIPS 2024:- Modified Approach for the Rainflow Counting Analysis of Temperature Load Signals in Power Electronics Modules – Oral presentation by S. Letz; Co-authors: D. Zhao, J. Leib, B. Eckardt, M. März
- Milliseconds Power Cycling (PCmsec) Driving Bipolar Degradation in Silicon Carbide Power Devices – Oral presentation by S. Laha; Co-authors: D. Momeni, J. Leib, A. Schletz, M. März, C. Liguda, F. Faisal
- Challenges of Junction Temperature Calibration of SiC MOSFETs for Power Cycling – a Dynamic Approach – Poster by J. Breuer, F. Dresel, A. Schletz, J. Klier, J. Leib, M. März, B. Eckardt
- Wide Bandwidth PCB Rogowski Coil Current Sensor with Droop Suppression and DC Restoration for In-Situ Inverter Measurements – Poster by S. Quergfelder, J. Sax, T. Heckel, B. Eckardt, M. März
Original – Fraunhofer IISB
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Aehr Test Systems announced preliminary financial results for its third quarter of fiscal 2024 ended February 29, 2024. Preliminary results reflect delays in wafer level burn-in system orders for semiconductor devices used in electric vehicles that have created a short-term gap in revenue and profitability. Additionally, Aehr provided updated revenue guidance for its full fiscal year ending May 31, 2024.
For the fiscal third quarter ended February 29, 2024, Aehr expects:
- Revenue of approximately $7.6 million
- GAAP net loss of approximately $1.5 million to $1.8 million, or $0.05 to $0.06 per diluted share
- Non-GAAP net loss of approximately $0.9 million to $1.2 million, or $0.03 to $0.04 per diluted share, which excludes the impact of stock-based compensation
- Bookings of $24.5 million
- Backlog as of February 29, 2024, of $20 million
For the fiscal 2024 full year ending May 31, 2024, Aehr expects:
- Total revenue of at least $65 million
- GAAP net income of approximately $11 million or more, or $0.38 per diluted share
- Non-GAAP net income of approximately $14 million or more, or $0.48 per diluted share, which excludes the impact of stock-based compensation
An explanation of the use of non-GAAP financial measures and a reconciliation of Aehr’s non-GAAP financial measures to the most directly comparable GAAP financial measures will be included when Aehr releases its full financial results for the fiscal 2024 third quarter on April 9, 2024.
Aehr Test Systems President and CEO Gayn Erickson commented: “As we discussed in our second quarter earnings call, we had seen several push outs of forecasted orders by current and new customers that impacted our fiscal year revenue. We believe that this was due to two key factors. There is clearly softness in the overall semiconductor capital spending, particularly in automotive applications, related to a glut in inventory driving down near-term orders to these companies and has caused them to push out capital spending and drive cost reductions. Multiple companies including the companies we had expected orders from have publicly discussed inventory related headwinds in their public earnings calls and press releases. In addition, we have seen specific shifts in order timing of our equipment used for wafer level test and burn-in of silicon carbide power semiconductors used in electric vehicles. In just the last two weeks of the quarter, we saw delays in orders for silicon carbide systems with customer-requested ship dates within the quarter as well as a last-minute push out by a customer of a system in our backlog. The net effect of this was a significant shift in revenues out of the third and fourth quarters. Until this time, we had been hearing from those customers that their silicon carbide-based capital investments were not being impacted.
“It is now clear that the recent overall softness in semiconductors and the impact of shifts in electric vehicle introductions and ramps are impacting our bookings and revenue forecasts more than we understood only two months ago at our last earnings call. We now expect this to last for another quarter or two before the orders resume based on the latest roll up of direct forecasts from over a dozen silicon carbide companies. We are now forecasting revenue for the full fiscal year to be $65 million or more, representing revenue of at least $15.4 million in our fiscal fourth quarter. We still expect to finish the year with near or above record annual revenue for the year.
“Our discussions with customers indicate to us that the key markets Aehr is addressing for semiconductor wafer level test and burn-in have significant long-term growth opportunities that will continue to expand throughout this decade. Despite what we believe are temporary delays in current and new customer orders, we believe Aehr will experience significant order, revenue, and earnings growth from these market opportunities. Our unique, proprietary wafer level test and burn-in offering for semiconductors addresses the need for the critical reliability testing and screening of semiconductors used in the worldwide electrification infrastructure, battery and hybrid electric vehicles, data and telecommunications and data storage, machine learning and Artificial Intelligence processors and communications chips, and in the large and growing semiconductor memory market. We look forward to discussing the impact and timing of these markets and the increase in customer engagements in all these markets on our earnings call planned for April 9th.”
The foregoing preliminary financial information reflects management’s current views with respect to the Company’s financial results. These preliminary results remain subject to the completion of normal quarter-end accounting procedures and closing adjustments. Aehr plans to release its full financial results for the fiscal 2024 third quarter on April 9, 2024, and will provide the time and conference call details in a later press release. No independent registered public accounting firm has reviewed, examined, or performed any procedures with respect to, nor have they expressed any form of assurance on, these preliminary estimated results.
Original – Aehr Test Systems
