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Ideal Power Signs B-TRAN™ Test and Evaluation Agreement with Top 10 Global Provider of Power Conversion Solutions to the Solar Industry
AUSTIN, Texas, Aug. 03, 2021 (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, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN™ bi-directional power switches, today announced that it has signed an agreement for the testing and evaluation of B-TRAN™ devices by a leading global provider of power conversion solutions to the solar industry. This provider has historically served the solar space and is currently expanding its portfolio to include a broad array of power conversion application solutions serving multiple sectors. B-TRAN™ will be evaluated for its compelling advantages in bi-directional circuits for various applications, with an initial focus on uninterruptible power supply (UPS) systems for data centers and the potential to expand testing and evaluation to include renewable energy, electric vehicle (EV) and other applications served by this provider. The power switch market for UPS systems was approximately $512 million in 2020 and is forecasted to grow at an estimated 6% compound annual growth rate (CAGR) through 2026. Electricity consumption is the largest operating cost for a data center and all of the electricity entering a data center passes through a UPS system. Currently, UPS systems and their protection account for approximately 6% of data center total energy losses. Replacing conventional power semiconductors in these systems with B-TRAN™ could result in substantial annual cost savings for data centers through reduced energy consumption and the ability to migrate to lower cost, less complex cooling systems. “With the secular trend toward cloud computing and storage, there is intense pressure in the data center sector to reduce electricity costs and power losses, and we believe B-TRAN™’s bidirectionality and superior performance metrics can contribute to lower energy costs,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power. “We are excited to collaborate with this power conversion solution provider as they evaluate B-TRAN™ for UPS systems and for their innovative solutions in the two largest segments of the insulated gate bipolar transistor market, EVs and renewable energy.” Ideal Power’s patented semiconductor power switch, the Bi-directional Bipolar Junction Transistor, or B-TRAN™, reduces power losses by 50% or more over conventional pow...