Ideal Power Signs B-TRAN™ Test and Evaluation Agreement with Top 10 Global Provider of Power Conversion Solutions to the Solar Industry
August 03 2021 - 7:30AM
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 power switches,
depending on the application. B-TRAN™’s higher efficiency results
in less heat being generated and therefore significantly lower
thermal management requirements, requiring significantly smaller
surface area to dissipate heat and giving rise to potentially
smaller OEM products. B-TRAN™ offers the industry’s only symmetric
bi-directional operation, reducing the number of components
required for application by 75% as compared to a conventional
bi-directional switch utilizing IGBTs and diodes. This highly
efficient and unique symmetric operation provides a strong
competitive advantage in bi-directional applications, which are
growing rapidly as transportation electrifies and power generation
shifts to renewable energy coupled with energy storage.
About Ideal Power Inc.Ideal
Power (NASDAQ: IPWR) is pioneering the development of its broadly
patented bi-directional power switches, creating highly efficient
and ecofriendly energy control solutions for electric vehicle,
electric vehicle charging, renewable energy, energy storage, UPS /
data center and other industrial and military applications. The
Company is focused on its patented Bi-directional, Bi-polar
Junction Transistor (B-TRAN™) semiconductor technology. B-TRAN™ is
a unique double-sided bi-directional AC switch able to deliver
substantial performance improvements over today's conventional
power semiconductors. Ideal Power believes B-TRAN™ modules will
reduce conduction and switching losses, complexity of thermal
management and operating cost in medium voltage AC power switching
and control circuitry. For more information, visit
www.IdealPower.com.
Forward-Looking Statements
All statements in this release that are not
based on historical fact are “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
and the provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements include, but are not limited to,
statements regarding the size and CAGR of the power switch market
for UPS systems, that the evaluation of B-TRAN™ with this power
conversion solutions provide will expand to include EV and
renewable energy applications, the future importance of power
switching to IT infrastructure and cloud computing and the expected
performance benefits of B-TRAN™ in data centers. While Ideal
Power’s management has based any forward-looking statements
included in this release on its current expectations, the
information on which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of Ideal
Power’s control that could cause actual results to materially
differ from such statements. Such risks, uncertainties, and other
factors include, but are not limited to, the risks and
uncertainties associated with market conditions as well as risks
and uncertainties set forth in Ideal Power’s quarterly, annual and
other reports filed with the SEC. Furthermore, Ideal Power operates
in a highly competitive and rapidly changing environment where new
and unanticipated risks may arise. Accordingly, investors should
not place any reliance on forward-looking statements as a
prediction of actual results. Ideal Power disclaims any intention
to, and undertakes no obligation to, update or revise
forward-looking statements.
Ideal Power Investor Relations
Contact: LHA Investor RelationsCarolyn Capaccio,
CFAT: 212-838-3777IdealPowerIR@lhai.com
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