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, today announces a global leader in circuit protection, industrial fuses and power conversion electronics with over a billion in annual sales entered into an agreement with Ideal Power to test and evaluate B-TRAN power semiconductors for circuit protection in industrial markets including industrial fuses, renewable energy and energy storage power conversion, rail/transportation, and electric vehicle ("EV") power management.
"We are excited to collaborate with a global leader in circuit protection, industrial fuses and power conversion technology interested in B-TRAN as an enabling technology," said Dan Brdar, President and Chief Executive Officer of Ideal Power. "This global supplier presents multiple opportunities for us as they address several of our target markets. We look forward to gathering their feedback on their application-specific requirements to drive our product roadmap and to potentially secure design wins and/or a customer development agreement with them."
Circuit protection is required for renewable energy grid interfaces and EV power connections. Our B-TRAN technology has clear advantages in applications including EV power transfer, DC microgrids, energy storage systems and railway substations. These applications require fast-acting circuit protection to minimize electrical faults. In addition, B-TRAN-based circuit protection also provides dramatically lower conduction losses and bidirectional capability thereby enabling greater efficiency while simultaneously lowering component count and system costs.