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Ideal Power Inc. reported results for its second quarter ended June 30, 2025.
“Our first design win customer is nearing completion of their B-TRAN®-enabled solid-state circuit breaker (SSCB) prototype testing. Following their initial product rollout later this year, we anticipate this OEM will expand its offerings to include a suite of B-TRAN®-enabled SSCBs with a wide range of power ratings, presenting us with a significant revenue growth opportunity. Furthermore, we are now collaborating with our fourth and fifth global Tier 1 automotive suppliers as the automotive industry looks for low-loss, solid-state solutions for electric vehicle (EV) contactors. In addition, we’re thrilled that Stellantis has internally approved a purchase order for custom development and packaged B-TRAN® devices targeting multiple electric vehicle applications. This strategic win will enable multiple uses of B-TRAN® across Stellantis’ EV platforms,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power.
Key Second Quarter and Recent Operational Highlights
Execution to B-TRAN® commercial roadmap continues, including:
- Shipped updated solid-state circuit breaker prototypes with additional capabilities to the first design win customer. The customer is nearing completion of their SSCB prototype testing and is about to start gathering feedback on this new product from their end customers ahead of the B-TRAN®-enabled product launch later this year.
- Entered into a collaboration with a fourth global Tier 1 automotive supplier. They will begin evaluating B-TRAN® in the near term and plan to launch a formal solid-state EV contactor program within the next few months.
- Secured order from a fifth global Tier 1 automotive supplier for several B-TRAN®-enabled devices. The customer will evaluate these devices as part of their innovative solid-state EV contactor design implementation.
- Stellantis’ order for custom development and packaged devices targeting multiple EV applications was approved internally with Ideal Power’s receipt pending. Ideal Power remains actively engaged with Stellantis, meeting regularly with them and their program partners on both EV contactor and drivetrain inverter programs and collaborating with them on automotive qualification and related requirements.
- Added partnership with Kaimei Electronic Corp. to distribute Ideal Power’s products to their existing and prospective customers throughout Asia, alongside their own product portfolio. Asia is the world’s largest market for power electronics, and Asian companies typically adopt new technologies faster than their European and U.S. counterparts.
- Shipped SSCB reference designs to several large companies currently evaluating technology for SSCB or EV contactor applications. This includes two previously announced Forbes Global 500 power management market leaders, as well as the fourth and fifth global Tier 1 automotive suppliers.
- B-TRAN® Patent Estate: Currently at 96 issued B-TRAN® patents with 47 of those issued outside of the United States and 74 pending B-TRAN® patents. Current geographic coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.
Second Quarter 2025 Financial Results
- Cash used in operating and investing activities in the second quarter of 2025 was $2.5 million compared to $2.2 million in the second quarter of 2024.
- Cash used in operating and investing activities in the first half of 2025 was $4.6 million compared to $4.2 million in the first half of 2024.
- Cash and cash equivalents totaled $11.1 million at June 30, 2025.
- No long-term debt was outstanding at June 30, 2025.
- Operating expenses in the second quarter of 2025 were $3.1 million compared to $2.9 million in the second quarter of 2024 driven primarily by higher research and development spending.
- Net loss in the second quarter of 2025 was $3.0 million compared to $2.7 million in the second quarter of 2024.
2025 Milestones
For 2025, the Company has set the following milestones:
• Secure next phase of development program with Stellantis
√ Completed deliverables in 1H 2025 related to first design win
• Capture additional design wins / custom development agreements
• Start initial sales ramp in second half of year
• Increase power rating of products
• Complete third-party automotive qualification testingOriginal – Ideal Power
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Ideal Power Inc. announced two major developments that underscore growing traction for its B-TRAN® technology in the electric vehicle (EV) market. The company is now collaborating with a fourth global Tier 1 automotive supplier, while also securing a significant order from another Tier 1 supplier for evaluation of its B-TRAN® devices, SymCool® power modules, and reference designs for solid-state EV contactors.
These suppliers serve several top 10 global automotive OEMs, including previous Ideal Power engagements with Stellantis and three other Tier 1 suppliers. This reflects Ideal Power’s expanding footprint within the EV industry and the transition away from legacy electromechanical contactors toward advanced solid-state solutions.
B-TRAN®-enabled solid-state contactors provide numerous advantages over conventional electromechanical devices. These include:
- Ultra-low conduction losses for greater efficiency
- Bidirectional operation, reducing component count by half
- Faster response times, eliminating arcing and enhancing safety
- Programmable settings for trip and current limits
- Integrated diagnostics for predictive maintenance
- Lower cost compared to silicon carbide-based alternatives
Ideal Power recently shipped packaged B-TRAN® devices, SymCool® modules, and driver boards to a Tier 1 partner evaluating an innovative solid-state contactor design. The supplier also requested budgetary quotes for millions of SymCool® modules as part of long-term planning—signaling serious interest and commercial potential.
“We are excited to see growing demand and engagement from the world’s top automotive suppliers,” said Dan Brdar, CEO of Ideal Power. “Our B-TRAN® technology is proving to be a compelling alternative to traditional contactors, and we believe it will become the standard in EV and hybrid EV applications within the next five years.”
This momentum highlights Ideal Power’s continued leadership in delivering reliable, efficient, and cost-effective solid-state solutions for next-generation EV power architectures.
Original – Ideal Power
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Ideal Power Inc. announced a partnership with Kaimei Electronic Corp., a leading manufacturer of electrolytic capacitors, resistors and motor fans. Under this agreement, Kaimei Electronic Corp. will distribute Ideal Power’s products throughout Asia.
Kaimei Electronic Corp. and Ideal Power are partnering to promote Ideal Power’s innovative B-TRAN® technology to Kaimei’s existing and prospective customer base alongside their own product portfolio. B-TRAN® will be the first product line for which Kaimei will operate as a third-party distributor.
Kaimei has had decades of success as a manufacturer of high value-added electronic components selling into 60 countries in Asia, Europe, and the Americas. Kaimei and Ideal Power share many target markets including industrial, automotive, renewable energy, energy storage, UPS and EV charging. The partnership will leverage Kaimei’s existing sales expertise and customer network as the same customers for Kaimei’s products are also potential customers for B-TRAN®.
“We are excited to enter into this distribution partnership with Kaimei. They already serve customers in B-TRAN® target industrial, utility and automotive markets in Asia. Asia is the world’s largest market for power electronics, and Asian companies typically move faster than their European and U.S. counterparts in adopting new technologies. We look forward to collaborating with Kaimei to secure orders to drive revenue growth and potentially lead to additional B-TRAN® design wins,” said Dan Brdar, President and Chief Executive Officer of Ideal Power.
The distribution agreement with Kaimei aligns with Ideal Power’s asset-light business model. Ideal Power leverages the large investment already made in silicon processing, packaging, distribution, demand creation and support infrastructure. This business model allows the Company to continue focusing on disruptive B-TRAN® technology improvements and commercialization while driving working capital efficiency.
Original – Ideal Power
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Ideal Power Inc. reports results for its first quarter ended March 31, 2025.
“We had a strong start to the year as we completed SSCB prototypes related to our first design win three months ahead of schedule. We expect industrial markets, particularly the SSCB market, to be the earliest source of our initial sales ramp starting in the second half of this year. In addition, based on positive feedback from Stellantis, we expect to not only continue advancing the drivetrain inverter program but also add a new high priority program for EV contactors,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power. “I am excited to announce today that we secured an order from a third Forbes Global 500 power management market leader interested in B-TRAN® for circuit protection for power distribution systems with a focus on DC microgrids for solar and wind.”
Brdar continued, “We expect minimal impact from recently enacted tariffs, although the situation remains dynamic with rapidly changing tariffs and trade policies. Power semiconductors are exempt from most tariffs currently in effect, including those applicable to the countries where we fabricate B-TRAN® wafers.”
Key First Quarter and Recent Operational Highlights
Execution to B-TRAN® commercial roadmap continues, including:
- Completed solid-state circuit breaker (SSCB) prototypes related to the first design win three months ahead of schedule. The customer completed their initial prototype testing and Ideal Power continues to collaborate with this customer on their first B-TRAN®-enabled SSCB product.
- Potential new EV contactor program with Stellantis is advancing through their internal approval process. This would be the second program with Stellantis in addition to the drivetrain inverter program.
- Secured order from Forbes Global 500 leader in diverse power management markets. The customer purchased a SSCB evaluation board inclusive of discrete B-TRAN® devices. Now engaged with three Forbes Global 500 power management market leaders.
- Sekorm Advanced Technology (Shenzhen) Co., Ltd., a demand-creation distributor of Ideal Power, secured an order for discrete B-TRAN® devices, SymCool® power modules and SSCB evaluation boards from a new customer for SSCB applications.
- Shipped SSCB evaluation boards and discrete B-TRAN® devices to several potential design win customers.
- Secured sales representative partnership with Queensland Semiconductor Technologies (aka Quest Semi) which expands company’s reach into key markets in Europe and Asia. Ideal Power’s products will be a complementary offering for Quest Semi to sell into their existing and prospective customer base along with their own product portfolio.
- B-TRAN® Patent Estate: Currently at 94 issued B-TRAN® patents with 45 of those issued outside of the United States and 70 pending B-TRAN® patents. Current geographic coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.
First Quarter 2025 Financial Results
- Cash used in operating and investing activities in the first quarter of 2025 was $2.1 million compared to $2.0 million in the first quarter of 2024.
- Cash and cash equivalents totaled $13.7 million at March 31, 2025.
- No long-term debt was outstanding at March 31, 2025.
- Commercial revenue was $12,003 in the first quarter of 2025 compared to $78,739 in the first quarter of 2024.
- Operating expenses in the first quarter of 2025 were $2.8 million compared to $2.5 million in the first quarter of 2024 driven primarily by higher research and development spending.
- Net loss in the first quarter of 2025 was $2.7 million compared to $2.5 million in the first quarter of 2024.
Original – Ideal Power
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Ideal Power Inc. announced all deliverables related to the first design win for solid-state circuit breakers (SSCBs) were successfully completed three months ahead of schedule.
In connection with the design win announced in December 2024, the Company entered into a joint development agreement for a SSCB product incorporating multiple B-TRAN® devices with one of the largest circuit protection equipment manufacturers in Asia serving the data center, renewable energy, energy storage, industrial, and utility markets. In accordance with the agreement, Ideal Power installed multiple B-TRAN® devices and related drive circuitry and controls into the customer’s SSCB prototypes.
The replacement of SiC devices with B-TRAN® devices in their SSCB prototypes resulted in a greater than a 60% reduction in total losses and added bidirectionality. Based on testing, it was confirmed the B-TRAN®-based circuit breaker design meets or exceeds all of the customer-defined target specifications. The SSCB prototypes were then shipped to the customer for further testing and to enable them to begin marketing this new ultra-low loss breaker to their customers sooner than planned. The B-TRAN®-based solution easily fits into the customer’s existing design for a SSCB product, accelerating the time to market for their initial B-TRAN®-enabled circuit breaker product.
“Our first design win and related joint development agreement represented significant validation of B-TRAN® as an enabling technology for solid-state circuit breakers. We are now excited to deliver the circuit breaker prototypes to this customer a full quarter ahead of schedule. This customer will be the first to offer an innovative ultra-low loss and inherently bidirectional circuit breaker to a market that has long been waiting for such a solution. We expect the marketing and successful launch of this B-TRAN®-enabled SSCB product to lead to an expanded opportunity with this customer and accelerate engagements and potentially design wins with the large global companies currently evaluating our technology for circuit protection applications. Given the size of these companies, any one of them could represent millions of dollars or more of annual revenue to us over time. A few key design wins would be enough to get us to profitability,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power.
Based on the customer’s projections, for Ideal Power, the opportunity from this customer’s first B-TRAN®-based product alone could translate to revenue of several hundred thousand dollars in its first year of sales, with the opportunity to exceed a million dollars in revenue in the second year of sales. This initial B-TRAN®-enabled SSCB will be marketed to renewable energy and energy storage equipment providers and utility electric distribution network companies.
Ideal Power expects this product to be the first of multiple products incorporating B-TRAN® into SSCBs as the customer is interested in offering a suite of B-TRAN®-enabled SSCBs with a wide range of ratings. As a result, the overall opportunity with this customer could eventually lead to sales of a million units per year based on the customer’s projections. Other potential applications for future products with this customer include data centers, lighting and air conditioning systems, and electric vehicles, including vehicle-to-grid power conversion and EV contactors.
Original – Ideal Power
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Ideal Power Inc. published results for its fourth quarter and full year ended December 31, 2024.
“We’re thrilled with our first design win representing significant validation of B-TRAN® as an enabling technology for SSCBs and a catalyst for our anticipated revenue ramp starting in the second half of 2025. Based on the customer’s projections, the opportunity from this customer’s first B-TRAN®-based product alone could translate to revenue of several hundred thousand dollars in its first year of sales, with the opportunity to exceed a million dollars in revenue in the second year of sales. After the successful roll-out of this first product, we expect this OEM to expand its offerings to include a suite of B-TRAN®-enabled SSCBs with a wide range of ratings presenting a substantial opportunity for revenue growth,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power.
Brdar continued, “We are leveraging this design win for SSCBs to potentially secure additional design wins with other large SSCB customers in the coming months to drive long-term value creation for our shareholders. Solid-state switchgear, which includes SSCBs, is at least a $1.0 billion market opportunity for us and is expected to drive our sales ramp followed by a $1.4 billion opportunity in the energy and power market. In the fourth quarter, we secured a multi-unit order for our SymCool® IQ intelligent power module. This product targets the energy and power market, a market that includes renewable energy, energy storage and EV charging.”
Key Fourth Quarter and Recent Operational Highlights
Execution to our B-TRAN® commercial roadmap continues, including:
- Secured first design win for solid-state circuit breakers (SSCB) with one of the largest circuit protection equipment manufacturers in Asia serving industrial and utility markets. The program is ahead of schedule with product design, prototype builds, testing, and delivery of the SSCBs targeted for completion in late March or early April to be followed by commercial sales later in the year.
- Secured order for our SymCool® IQ intelligent power module from a customer that specializes in the development and manufacture of circuit protection and power conversion solutions. This customer is interested in SymCool® IQ modules for several end markets including renewable energy, energy storage, electric vehicle (EV) charging, and data centers.
- Conducted a comprehensive program review in Detroit with Stellantis’ U.S. and European production and engineering teams along with other major suppliers contributing to Stellantis’ new EV platform. Based on the successful program review and positive feedback from Stellantis, we expect to not only continue advancing the drivetrain inverter program but also add a new high priority program for EV contactors.
- Secured orders from a third Global Tier 1 automotive supplier for numerous discrete B-TRAN® devices, a SymCool® power module, a SSCB evaluation board and a driver. This customer is interested in using B-TRAN® for solid-state EV contactor applications.
- Initiated third-party automotive qualification and reliability testing of B-TRAN® devices. This testing requires well over a thousand packaged B-TRAN® devices from multiple wafer runs. Test results continue to be positive with no die failures to date. Successful completion of B-TRAN® automotive qualification and reliability testing is expected later this year.
- B-TRAN® Patent Estate: Currently at 94 issued B-TRAN® patents with 45 of those issued outside of the United States and 53 pending B-TRAN® patents. Current geographic coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.
Fourth Quarter and Full Year 2024 Financial Results
- Cash used in operating and investing activities in the fourth quarter of 2024 was $2.6 million compared to $2.1 million in the fourth quarter of 2023. Cash used in operating and investing activities in the full year 2024 was $9.2 million compared to $7.7 million in the full year 2023.
- Cash and cash equivalents totaled $15.8 million at December 31, 2024.
- No long-term debt was outstanding at December 31, 2024.
- Commercial revenue was $5,408 in the fourth quarter of 2024 and $86,032 in the full year 2024.
- Operating expenses in the fourth quarter of 2024 were $2.8 million compared to $2.5 million in the fourth quarter of 2023 driven primarily by higher research and development spending.
- Operating expenses in the full year 2024 were $11.1 million compared to $10.4 million in the full year 2023 driven primarily by higher research and development and sales and marketing spending.
- Net loss in the fourth quarter of 2024 was $2.6 million compared to $2.4 million in the fourth quarter of 2023. Net loss in the full year 2024 was $10.4 million compared to $10.0 million in the full year 2023.
2025 Milestones
For 2025, the Company has set the following milestones:
- Secure next phase of development program with Stellantis
- Complete deliverables in 1H 2025 related to first design win
- Capture additional design wins / custom development agreements
- Start initial sales ramp in second half of year
- Increase current rating of products
- Complete third-party automotive qualification testing
Original – Ideal Power
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Ideal Power Inc. secured its first design win for solid-state circuit breakers (SSCBs) with one of the largest circuit protection equipment manufacturers in Asia serving the industrial and utility markets.
In connection with this design win, the Company entered into a joint development agreement for a SSCB product incorporating multiple B-TRAN® devices. The agreement includes the product design, prototype builds and testing of the SSCB which is targeted for completion in the second quarter of 2025 to be followed by commercial sales later in the year.
For Ideal Power, the opportunity from this customer’s first B-TRAN®-based product could potentially translate to revenue of several hundred thousand dollars in the first year of sales, with the opportunity to exceed a million dollars in revenue in the second year of sales. We expect this product to be their first of multiple products incorporating B-TRAN® into SSCBs as the customer is interested in offering a suite of B-TRAN®-enabled SSCBs with a wide range of ratings. As a result, the overall opportunity with this customer could eventually lead to sales of a million units per year based on the customer’s projections.
The customer’s products are focused on renewable energy, circuit protection for industrial equipment and facilities, utility grid infrastructure and power distribution. They currently sell over 200 thousand circuit breakers per year to their large established customer base in the Asian market. They have a decades-long legacy of innovation to meet the current and future needs of their customers. Their initial B-TRAN®-enabled SSCB will be marketed to grid-tied solar and energy storage equipment providers and utility electric distribution network companies.
Other potential applications with the customer include data centers, lighting and air conditioning systems, electric vehicles, including vehicle-to-grid power conversion and EV contactors, and other energy storage solutions. The customer evaluated B-TRAN® against SiC MOSFETs and selected B-TRAN® due to its ultra-low conduction losses and inherent bidirectionality.
“Today’s design win is a milestone representing significant validation of B-TRAN® as an enabling technology for SSCBs and a catalyst for our revenue ramp in industrial markets. Now that we have captured our first design win for SSCBs, we will leverage this win to secure additional design wins with other SSCB customers in the coming months to drive long-term value creation for our shareholders,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power.
For SSCB applications, the Company’s B-TRAN® technology dramatically lowers conduction losses compared to IGBT and silicon carbide MOSFET-based SSCBs while offering inherent bidirectionality, reducing the number of devices required for a given circuit breaker rating. Compared to conventional electromechanical breakers, B-TRAN®-based SSCBs are expected to offer orders of magnitude faster operation along with programmability and diagnostic capability and enhanced safety and reliability. B-TRAN® potentially lays a path to broad SSCB adoption by industrial, utility and military customers. The Company estimates a $1 billion serviceable addressable market (SAM) for B-TRAN® for the solid-state switchgear market, inclusive of SSCBs.
Original – Ideal Power
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Ideal Power Inc. announced that the Company secured a multi-unit order for its SymCool® IQ intelligent power module from a customer that specializes in the development and manufacture of circuit protection and power conversion solutions.
The customer previously ordered multiple SymCool® power modules and drivers. They are interested in SymCool® and SymCool® IQ modules for solid-state circuit protection and power conversion solutions across their product lines focused on several end markets including electric vehicles, electric vehicle charging, renewable energy, and data centers.
“This multi-unit order for our SymCool® IQ is a significant milestone in the commercialization of our B-TRAN® technology. SymCool® IQ opens up additional markets for us including renewable energy, energy storage and electric vehicle charging. This customer is evaluating SymCool® IQ for use in pairing renewable energy with energy storage to take advantage of both the improved efficiency and bidirectionality of our technology,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power.
SymCool® IQ builds on the bidirectional BTRAN® multi-die packaging design of the Company’s SymCool® power module and adds an integrated intelligent driver optimized for bidirectional operation. The SymCool® IQ, rated at 1200V and 200A, has significant advantages compared to IGBT modules, including lower losses and inherent bidirectionality.
For OEM customers incorporating SymCool® IQ into their products, these advantages translate to increased energy savings, lower product operating costs, and significantly lower thermal management requirements resulting in more compact and lower cost solutions. The addition of an integrated intelligent driver in the SymCool® IQ provides protection features such as overcurrent protection, undervoltage protection and temperature sensing. OEM customers will also recognize its popular 62-millimeter package as it is a standard for industrial power semiconductor packaging.
Original – Ideal Power
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Ideal Power Inc. reported results for its third quarter ended September 30, 2024.
“Our Q3 accomplishments underscore the continued execution of our B-TRAN™ commercial roadmap with several significant developments. We are collaborating with a third global automaker and recently secured initial orders from a global Tier 1 automotive supplier. We added our second and third distributors with expertise in demand-creation and they are already placing customer orders and providing quotes of our products to large global companies,” said Dan Brdar, President and Chief Executive Officer of Ideal Power. “Overall, the momentum we are building is working to advance companies to orders followed by potential custom development agreements and/or design wins to drive long-term value creation for our shareholders.”
Key Third Quarter and Recent Business Highlights
Execution to our B-TRAN™ commercial roadmap continues, including:
- Secured orders from a Global Tier 1 automotive supplier for numerous discrete B-TRAN™ devices, a SymCool® power module, a solid-state circuit breaker (SSCB) evaluation board and a driver. This customer is interested in using B-TRAN™ for solid-state electric vehicle (EV) contactor applications.
- Meeting regularly with Stellantis’ technical and production teams with Phase III expected to begin shortly after Stellantis selects a Tier 1 supplier to design and build the drivetrain inverter for its new EV platform. In a parallel initiative, Stellantis continues working with the Company and a large semiconductor company with expertise in driver control circuity for the B-TRAN™ inverter drivers.
- Collaborating with a third global automaker. This auto OEM is evaluating B-TRAN™-enabled contactors as a potential replacement for electromechanical contactors in its EVs. The Company recently delivered a SSCB evaluation board to this automaker.
- Added our second distributor, RYOSHO. RYOSHO already placed orders with Ideal Power from a large global customer interested in the Company’s products for solid-state circuit protection applications and introduced B-TRAN™ to global automakers based in Japan.
- Added our third distributor, Sekorm Advanced Technology (Shenzhen) Co., Ltd. In response to customer requests, Sekorm began quoting our products to large companies for SSCB applications.
- Initiated third-party automotive qualification and reliability testing of B-TRAN™ devices. This testing requires over a thousand packaged B-TRAN™ devices from multiple wafer runs. Initial test results are positive with no failures to date.
- Increased the current rating of our SymCool® power module from 160A to 200A, a 25% increase, based on the results of testing. In conjunction with a power module size reduction of approximately 50%, this significantly increases the power density of the SymCool® power module.
- B-TRAN™ Patent Estate: Currently at 90 issued B-TRAN™ patents with 42 of those issued outside of the United States and 50 pending B-TRAN™ patents. Current geographic coverage includes North America, China, Japan, South Korea, India, Europe, and Taiwan.
Third Quarter 2024 Financial Results
- Cash used in operating and investing activities in the third quarter of 2024 was $2.4 million compared to $1.9 million in the third quarter of 2023.
- Warrant proceeds in the third quarter of 2024 were $1.0 million.
- Cash used in operating and investing activities in the first nine months of 2024 was $6.6 million compared to $5.6 million in the first nine months of 2023.
- Cash and cash equivalents totaled $18.7 million at September 30, 2024.
- No long-term debt was outstanding at September 30, 2024.
- Operating expenses in the third quarter of 2024 were $2.9 million compared to $2.8 million in the third quarter of 2023.
- Net loss was $2.7 million in both the third quarter of 2024 and the third quarter of 2023.
2024 Milestones
For 2024, the Company has set or achieved the following milestones:
√ Successfully completed Phase II of development program with Stellantis
• Secure Phase III of development program with Stellantis
√ Completed qualification of second high-volume production fab
• Convert large OEMs in our test and evaluation program to design wins/custom development agreements
√ Added distributors for SymCool® products
• Initial sales of SymCool® IQ intelligent power module
√ Began third-party automotive qualification testingOriginal – Ideal Power
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Ideal Power Inc. announced that the Company received orders from a global Tier 1 automotive supplier, a NYSE listed company. This global customer serves many automotive OEMs and is a leading supplier of sensors and electrical protection component solutions for automobile electrification and electric vehicles (EVs). They represent the latest addition to the Company’s customer list of Tier 1 suppliers targeting the EV market.
The Company is meeting regularly with this Tier 1 auto supplier and educating them on the benefits of B-TRAN™ in EV applications. As a result of these ongoing discussions, the customer placed orders for numerous discrete B-TRAN™ devices, a SymCool® power module, a solid-state circuit breaker evaluation board and a driver. This customer is interested in using B-TRAN™ for solid-state EV contactor applications.
“We are pleased to see another global Tier 1 automotive supplier securing B-TRAN™ products as part of their desire to bring lower cost, more efficient semiconductor solutions to their numerous automotive OEM customers. We are also working to advance other Tier 1 auto suppliers in our sales pipeline to orders and then to custom development agreements and/or design wins,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power. “Overall, we are leveraging our success with Stellantis to attract and engage other auto OEMs as well as the Tier 1 auto suppliers that provide sub-systems to these global automakers.”
Contactors serve as cutoff switches for high voltage applications in EVs. They play a critical role in isolating the battery, inverter, and onboard charger to ensure safety when the vehicle is off or being serviced. In a collision, power must be shut off from downstream systems to prevent further complications or damage. Contactors are bidirectional and there are typically 4 to 6 high-power contactors in every EV. The high-power EV contactor market is forecasted to grow to over $3.7 billion in 2025 and the Company believes that, over time, solid-state contactors will potentially displace electromechanical contactors in half or more of this market.
Solid-state contactors provide several benefits over electromechanical contactors. They act much faster, thereby eliminating arcing and improving safety, and are more reliable as they do not include physical contacts subject to wear. In addition, they provide programmable settings for trip and current limits as well as built-in safety diagnostics. Solid-state contactors are also expected to cost less than electromechanical contactors in EV applications.
Original – Ideal Power
