Ideal Power Inc IPWR, pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN bidirectional semiconductor power switch, announced today that the Company commenced commercial shipment of its SymCool Power Module.
CEO Dan Brdar said, “With the ongoing success of our test and evaluation program and the resultant shipment of SymCool Power Modules, we are expecting to start converting large OEMs into design wins and/or additional custom development agreements later this year.”
“We’re thrilled we are successfully executing against our commercialization roadmap, remain on track to achieve our 2024 milestones, and look forward to several commercial announcements in the coming months,” he added.
The SymCool Power Module targets several applications, including solid-state switchgear, renewable energy inverters for solar and wind, industrial inverters, electric vehicles (EVs), and EV charging.
Customer evaluations confirmed that the B-TRAN technology packaged into the multi-die SymCool Power Module has lower conduction losses and significant efficiency benefits over existing IGBT-based designs.
The Company looks forward to the SymCool sales ramp beginning in the second half of 2024, as expected.
Price Action: IPWR shares closed lower by 1.45% at $6.80 on Friday.
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