Business
Ideal Power Secures Phase II of Development Program with Top 10 Global Automaker
AUSTIN, TX / ACCESSWIRE / August 22, 2023 / Ideal Power Inc. ("Ideal Power," the "Company," "we," "us" or "our") (NASDAQ:IPWR), pioneering the development and
About this update from Ideal Power Inc.
[{"type":"text","content":"AUSTIN, TX / ACCESSWIRE / August 22, 2023 / Ideal Power Inc. (\"Ideal Power,\" the \"Company,\" \"we,\" \"us\" or \"our\") (NASDAQ:IPWR), pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch, entered into Phase II of a product development agreement with a top 10 global automaker. Under this agreement, Ideal Power is partnering with the automaker's advanced technology development team and an innovative packaging company selected by the automaker to develop a custom B-TRAN™ power module for use in electric vehicle (\"EV\") drivetrain inverters in the automaker's next generation EV platform. Due to its compelling advantages, B-TRAN™ is also being evaluated for the automaker's EV charging ecosystem.All Phase I deliverables were successfully completed including a wafer run and delivery of packaged and tested B-TRAN™ devices and test boards to both the automaker and the packaging company in the program. Ideal Power also provided technical support and device characterization and test data to the automaker on B-TRAN™ performance and related drive circuitry. The B-TRAN™ devices delivered to the automaker outperformed the device performance specifications provided to them at the beginning of the program.Phase II builds on the completion of all Phase I deliverables.In Phase II, Ideal Power will collaborate closely with the automaker's packaging company to supply B-TRAN™ devices for integration into the custom power module design. The Company will also provide a comprehensive reliability test plan and, once approved, conduct third party testing of packaged B-TRAN™ devices.Phase III will be extensive testing of the custom B-TRAN™ module to meet automotive certification standards enabling B-TRAN™ to be the core of the powertrain inverter for the automaker's next-generation electric vehicles. The delivery of production-ready B-TRAN™ based modules for this program continues to be targeted for 2025.\"We're thrilled with the success of Phase I and advancement into Phase II of the program with a top 10 global automaker. Successful completion of Phase I was customer validation of the performance of B-TRAN™ and its potential impact in improving EV range and cost,\" said Dan Brdar, President and Chief Executive Officer of Ideal Power. \"We plan to leverage our s...