Business
Ideal Power Appoints Two Independent Members to its Board of Directors
AUSTIN, Texas, March 14, 2022 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and
About this update from Ideal Power Inc.
[{"type":"text","content":"AUSTIN, Texas, March 14, 2022 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN™ bidirectional power switches, today announced that its Board of Directors (“Board”) appointed two new independent members, Drue Freeman and Greg Knight, to the Board. As a result of these appointments, Ideal Power’s Board will increase in size from three to five members, four of whom are independent. These directors will bring deep expertise in semiconductors and significant experience and relationships in the Company’s initial target markets for B-TRAN™, including electric vehicles (EVs), renewable energy, energy storage and power electronics. “Drue has spent his career in the semiconductor industry, and brings commercial and strategic expertise and both semiconductor and automotive experience and relationships to our Board. As Senior Vice President of Global Automotive Sales & Marketing for NXP Semiconductor, he drove significant growth in global semiconductor sales to the automotive industry. Greg brings operational and leadership experience to our Board, having served as President and/or Chief Executive Officer at GT Advanced Technologies, Exawatt and PV Tech Group, as well as experience bringing new technologies to market and relationships in the silicon carbide, EV, renewable energy, energy storage and power electronics markets,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power. “Their skill sets, experience and relationships directly align with our strategy to commercialize and grow B-TRAN™ in our target markets. The Board joins me in welcoming these new directors to Ideal Power and we look forward to their contributions.” Mr. Freeman has over 30 years of semiconductor industry experience, 16 of which focused on sales and marketing of semiconductors to the automotive industry. He spent most of his career at NXP Semiconductors, a Dutch multinational manufacturer serving the automotive industry. In 1990, he joined VLSI Technology, an American company that designed and manufactured custom and semi-custom integrated circuits, which was bought by Philips Semiconductors, a division of Philips Electronics. Philips Semiconductors was subsequently spun-out from Philips to become NXP. Mr. Freeman served as Regional Market Segment Ma...