AUSTIN,
Texas, Sept. 23, 2024 /PRNewswire/ -- Ideal
Power Inc. (Nasdaq: IPWR) ("Ideal Power," the "Company," "we,"
"us" or "our"), pioneering the development and commercialization of
the highly efficient and broadly patented B-TRAN™ bidirectional
semiconductor power switch, today announces an agreement with
Sekorm Advanced Technology (Shenzhen) Co., Ltd. for the distribution of
Ideal Power's products throughout China.
"This is a significant development in the commercialization of
our B-TRAN™ technology as we add Sekorm as a third distributor for
our products. Sekorm stands out for their expertise in demand
creation throughout China, strong
technical sales capability and securing sales for new technologies.
This leading demand-creation distributor addresses B-TRAN™ target
industrial and automotive markets in China, the world's largest market for power
semiconductors. We look forward to collaborating with Sekorm to
secure orders that may potentially lead to design wins and/or
custom development agreements," said Dan
Brdar, President and Chief Executive Officer of Ideal
Power.
Ideal Power has agreements with three distributors with demand
generation expertise and comprehensive customer networks that
expand our global reach: Richardson Electronics, Ltd. for
global distribution of Ideal Power's products; RYOSHO U.S.A, INC. ("RYOSHO"), a subsidiary of RYODEN
CORPORATION (TSE: 8084), for the global distribution of Ideal
Power's products with particular strength in Japan; and Sekorm Advanced Technology
(Shenzhen) Co., Ltd. for
distribution of Ideal Power's products throughout China.
Ideal Power utilizes an asset-light business model leveraging
the large investment already made in silicon processing,
distribution, demand creation and support infrastructure. This
business model allows the Company to continue focusing on
disruptive B-TRAN™ technology improvements and commercialization
while driving working capital efficiency.
About Ideal Power Inc.
Ideal Power (NASDAQ: IPWR) is pioneering the development and
commercialization 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 that delivers substantial performance improvements over
today's conventional power semiconductors. Ideal Power's B-TRAN™
can reduce conduction and switching losses, complexity of thermal
management and operating cost in AC power switching and control
circuitry. For more information, visit the Company's website at
www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook.
About Sekorm Advanced Technology (Shenzhen) Co., Ltd.
Founded in 1993 and headquartered in Shenzhen, Guangdong,
China, Sekorm Advanced Technology (Shenzhen) Co., Ltd. is recognized as a
professional demand creation distributor for integrated circuits,
components, electronic material and electrical modules and
instruments. Sekorm is a distributor serving over 10,000 customers
and has received numerous awards from customers and suppliers which
recognize its leading demand creation capabilities, extensive
R&D services, network of field application engineers, and its
online platform for technical support and order processing with
over one million users. For more information, visit Sekorm's
website at www.sekorm.com.
Safe Harbor Statement
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.
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 collaboration with Sekorm potentially
leading to design wins and/or custom development agreements. 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 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, 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, the rate and
degree of market acceptance for our B-TRAN™, the impact of global
health pandemics on our business, supply chain disruptions, and the
expected performance of future products incorporating our B-TRAN™,
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, except as required by
applicable law.
Ideal Power Investor Relations Contact
Jeff Christensen
Darrow Associates Investor Relations
jchristensen@darrowir.com
703-297-6917
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SOURCE IDEAL POWER INC.