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Ideal Power Reports Fourth Quarter and Full Year 2019 Financial Results
Management to Host Conference Call Today at 4:30 p.m. ET AUSTIN, Texas, March 11, 2020 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the
About this update from Ideal Power Inc.
[{"type":"text","content":"Management to Host Conference Call Today at 4:30 p.m. ET\nAUSTIN, Texas, March 11, 2020 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN™ bi-directional power switches, reported results for its fourth quarter and full year ended December 31, 2019.\n Full Year 2019 Operational Highlights: Shifted to commercialization of our patented B-TRANTM technology for the global insulated-gate bipolar transistor market projected to be $7.4 billion by 2022.Completed testing of proof of concept double-sided B-TRAN™ dies. Demonstrated bi-directional operation with symmetrical performance in both directions;Measured forward voltage drop of 0.2V, consistent with our simulations. This value is substantially lower than the corresponding junction voltage drop of approximately 1.75V for an IGBT switch; andMeasured breakdown voltages of up to 1200V, a characteristic required for commercial, industrial and military applications such as data centers, battery storage, renewable energy and traction drives. Design basis and test results of initial B-TRAN™ devices meet the criteria for the engineering prototype sampling program. Sold our Power Conversion Systems business and Power Packet Switching Architecture (PPSA™) technology to CE+T Energy Solutions for a combination of cash, CE+T Energy Solutions equity and the assumption of certain liabilities.Strengthened balance sheet through the completion of a $3.5 million private placement. Subsequent Operational Highlights: Completed our second B-TRAN™ run with our international semiconductor fabricator.Packaged double sided B-TRAN™ dies that are currently undergoing testing in our laboratory to generate switching data and evaluate the preliminary package design and build quality. Testing results to date are consistent with our simulations, earlier unpackaged die testing and the requirements of our engineering prototype sampling program. Completed our first B-TRAN™ run with our new domestic semiconductor fabricator.Initial samples will be discrete packaged devices for testing. The primary target is an application where B-TRAN™ can be an enabling technology and we have partnered with a third party to pursue a technology demonstration project in the second or third quarter of 2020.B-TRAN™ Patent Estate: Currently h...