Ideal Power Adds Global Diverse Power Management Market Leader to its B-TRAN™ Test and Evaluation Program
AUSTIN, Texas, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN™ bidirectional power switches, today announced that a Forbes 2021 Global 500 leader in diverse power management markets will be testing and evaluating B-TRAN™ for use in bidirectional direct current solid-state circuit breaker (SSCB) applications for solar and wind systems. B-TRAN™ will be evaluated against insulated-gate bipolar transistors (IGBTs) and silicon carbide power devices. This represents Ideal Power’s first test and evaluation announcement in the industrial and utility SSCB space. This global power management leader will evaluate B-TRAN™ initially for multiple SSCB applications, with other power conversion and distribution applications expected to follow. The circuit breaker market is projected to grow at a compound annual growth rate of over 6% to $25.85 billion by 2027.
“We are very excited to make this first announcement for the evaluation and potential adoption of B-TRAN™ for industrial and utility SSCB applications, building on our work with the Department of Defense and Department of Energy on B-TRAN™ enabled SSCBs,” stated Dan Brdar, President and Chief Executive Officer of Ideal Power. “With its fast switching, low conduction losses, and bidirectional capability, B-TRAN™ can solve the challenges SSCBs face, potentially enabling solid-state circuit breakers to become a broadly adopted solution that is superior to both existing mechanical circuit breakers and the high-loss semiconductor SSCB alternatives. The increased electrification in our society creates increasing demand on our circuit protection requirements from solar and wind power, energy storage, electric vehicle (EV) and EV charging and associated vehicle to grid (V2G) networks, making this a tremendous opportunity.”
Circuit breakers perform a critical function in power generation, transmission and distribution systems to protect against power surges and short circuits. These needs have been traditionally filled by mechanical circuit breakers, which are slow, prone to failure and require significant time and cost to maintain. Power semiconductor replacements such as IGBTs and MOSFETs have not seen widespread deployment in circuit breakers despite their higher switching speed. The lack of widespread adoption is primarily because of their high conduction losses, which result in wasted energy and the need to dissipate the heat this energy produces. B-TRAN™, with its fast switching speed and low conduction losses, is a potentially enabling solution for large-scale SSCB adoption.
Ideal Power’s patented semiconductor power switch, the Bidirectional 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 bidirectional operation, reducing the number of components required for application by 75% as compared to a conventional bidirectional switch utilizing IGBTs and diodes. This highly efficient and unique symmetric operation provides a strong competitive advantage in bidirectional 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 bidirectional power switches, creating highly efficient and eco-friendly 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 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™ 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. 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 and our expectations that this global power management leader will evaluate B-TRAN™ initially for multiple SSCB applications with other power conversion and distribution applications expected to follow and that B-TRAN™ is a potentially enabling solution for large-scale SSCB adoption, 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 undertake no obligation to, update or revise forward-looking statements.
Ideal Power Investor Relations Contact:
LHA Investor Relations
Carolyn Capaccio, CFA
T: 212-838-3777
IdealPowerIR@lhai.com
Released October 27, 2021