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Ideal Power Adds Global Tier 1 Automotive Supplier to its B-TRAN™ Test and Evaluation Program
AUSTIN, Texas, March 09, 2023 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of the highly efficient
About this update from Ideal Power Inc.
[{"type":"text","content":"AUSTIN, Texas, March 09, 2023 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch, has been collaborating with a global Tier 1 automotive supplier. The automotive supplier has now entered into an agreement with Ideal Power to test and evaluate B-TRAN™ devices for its electric vehicle (EV) inverter, bidirectional charging, and circuit protection applications. The Tier 1 supplier is a leader in vehicle electrification, EV systems, and clean mobility, with multi-billion dollar annual revenue. “We are very excited to announce the first test and evaluation agreement of B-TRAN™ by a Tier 1 automotive supplier for potential adoption in its EV sub-systems. This agreement builds on our custom module development with a Top 10 global automaker,” said Dan Brdar, President and Chief Executive Officer of Ideal Power. “We plan to deliver B-TRAN™ samples for evaluation to the Tier 1 automotive supplier in the second half of 2023. We will work with this automotive supplier to understand their EV applications, gain valuable feedback on their product requirements and to potentially secure a product development or other commercial agreement.” Brdar continued, “B-TRAN™ has the potential to displace conventional power semiconductor solutions in many applications. We are executing our B-TRAN™ commercialization roadmap in large markets including EV, EV charging, renewable energy and energy storage, uninterruptible power supply (UPS) systems for data centers, and solid-state circuit breakers.” B-TRAN™ potentially offers distinct advantages over other technologies in EV applications. After batteries, power semiconductors are the second largest cost component of an EV and typically make up 8-10% of the total electric vehicle production cost. While SiC-based devices improve efficiency over traditional silicon-based semiconductors, their very high cost compared to silicon-based devices adds to the cost challenges of EVs. B-TRAN™ offers a lower cost alternative to SiC devices to improve efficiency and vehicle range. In addition to these benefits, B-TRAN™ offers a clear roadmap to incorporate the benefits of silicon carbide as its cost and manufacturability profile improves over time. Ideal Power’s patented semiconduc...