Ideal Power Enters into Development Agreement with Top 10 Global Automaker for B-TRAN™-based Electric Vehicle Power Module
14 Novembro 2022 - 10:30AM
Ideal Power Inc. (“Ideal Power” or the “Company”) (Nasdaq:
IPWR), pioneering the development and commercialization of the
highly efficient and broadly patented B-TRAN™ bidirectional
semiconductor power switch, today announced it entered into a
product development agreement with a top 10 global automaker. Under
this agreement, Ideal Power will partner with this automaker’s
advanced technology development team to develop a custom B-TRAN™
power module for use in electric vehicle (EV) drivetrain inverters
in its next generation EV platform.
Multiple new suppliers and technologies were
considered for entry into the program. Each was evaluated for its
innovation, potential performance improvements, and return on
investment. Ideal Power demonstrated that its B-TRAN™ technology
and its value proposition surpassed that of the other contending
power device technologies. Ideal Power was selected for this
program because B-TRAN™ potentially offers significant EV inverter
efficiency improvements while using the established silicon supply
chain, which will offer cost advantages over competing technologies
that rely on high-cost materials like silicon carbide (SiC).
Under this development program, Ideal Power will
also collaborate with an innovative packaging company that will
produce the custom B-TRAN™ modules. The delivery of
production-ready B-TRAN™-based modules is targeted for 2025.
“We are very excited to engage with another top
10 global automaker and enter into our first B-TRAN™ development
agreement for a custom B-TRAN™ module,” stated Dan Brdar, President
and Chief Executive Officer of Ideal Power. “After a thorough
technology assessment, B-TRAN™ was selected in lieu of several
competing technologies, including silicon carbide devices, for its
superior performance in EV applications, including low conduction
losses, inherent bidirectional capability, and lower cost. These
characteristics are expected to lead to greater drivetrain
efficiency, lower thermal management requirements and greater EV
range. As automakers’ engineering teams pursue EV technology
roadmaps under intense pressure to lower EV production costs,
B-TRAN™ offers a compelling value proposition.”
B-TRAN™ potentially offers distinct advantages
over other technologies in EV applications. EVs currently cost more
to manufacture than internal combustion engine vehicles, resulting
in automakers needing to reduce cost in order to remain price
competitive. After batteries, power semiconductors are the second
largest cost component of an EV and typically make up 8-10% of the
total electric vehicle production cost. While SiC-based devices
improve efficiency over traditional silicon-based semiconductors,
their very high cost compared to silicon-based devices adds to the
cost challenges of EVs. B-TRAN™ offers the potential to reduce cost
and improve efficiency and vehicle range through its lower
conduction losses compared to SiC-based devices. A silicon-based
B-TRAN™ can offer both improved performance and lower power switch
costs. In addition to these benefits, B-TRAN™ offers a clear
roadmap to incorporate the benefits of silicon carbide as its cost
and manufacturability profile improves over time.
About Ideal Power Inc.Ideal Power (NASDAQ:
IPWR) is pioneering the development of its broadly patented
bidirectional semiconductor power switch, creating highly efficient
and ecofriendly energy control solutions for electric vehicle,
electric vehicle charging, renewable energy, energy storage, UPS /
data center, solid-state circuit breaker and other industrial and
military applications. The Company is focused on its patented
Bidirectional, Bipolar Junction Transistor (B-TRAN™) semiconductor
technology. B-TRAN™ is a unique double-sided bidirectional AC
switch able to deliver substantial performance improvements over
today's conventional power semiconductors. Ideal Power believes
B-TRAN™ 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.
Safe Harbor StatementAll 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. 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. Such forward-looking
statements include, but are not limited to, statements regarding
our belief that B-TRAN™ offers significant EV inverter efficiency
improvements and cost advantages over competing technologies, the
anticipated success of the development program, and that the
program will result in production-ready B-TRAN™-based modules
targeted by 2025. 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 our 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 impact of
COVID-19 on our business, financial condition and results of
operations, the success of our B-TRAN™ technology, including
whether the patents for our technology provide adequate protection
and whether we can be successful in maintaining, enforcing and
defending our patents and our inability to predict with precision
or certainty the pace and timing of development and
commercialization of our B-TRAN™ technology, including the timing
of the completion of our wafer fabrication runs with our
semiconductor fabrications partners and our continued success
engaging companies to participate in our customer sampling program,
and uncertainties set forth in our quarterly, annual and other
reports filed with the Securities and Exchange Commission.
Furthermore, we operate 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. We
disclaim any intention to, and undertake 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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