EXCLUSIVE: Ideal Power Secures Multi-Unit Order For SymCool IQ Intelligent Power Modules

On Wednesday, Ideal Power Inc. IPWR said it secured a multi-unit order for its SymCool IQ intelligent power module from a customer specializing in developing and manufacturing circuit protection and power conversion solutions.

The customer previously ordered multiple SymCool power modules and drivers. The financial terms were not disclosed.

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The SymCool and SymCool IQ modules are used for solid-state circuit protection and power conversion solutions across product lines focused on several end markets, including electric vehicles, electric vehicle charging, renewable energy, and data centers.

In the third-quarter earnings release, the company said that based on the testing results, the current rating of the SymCool power module was increased by 25% from 160A to 200A.

In October, Ideal Power received orders from a global Tier 1 automotive supplier. This global customer serves many automotive OEMs and is a leading supplier of sensors and electrical protection component solutions for automobile electrification and electric vehicles.

In August, the company said that a global automaker was working closely and meeting regularly with Ideal Power engineers to discuss using B-TRAN-enabled contactors to replace electromechanical contactors in its electric vehicles.

Ideal Power agreed in August to distribute its products globally through RYOSHO USA, Inc., a subsidiary of RYODEN CORP.

RYOSHO has already placed orders with Ideal Power from a large global customer interested in the company’s products for solid-state circuit protection applications.

Price Action: IPWR stock closed at $6.11 on Tuesday.

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