Rexel and Gexpro to Begin Distribution of Ideal Power's Power Converters
AUSTIN, TX -- (Marketwired) -- 02/10/15 -- Ideal Power Inc. (NASDAQ: IPWR), a developer of a disruptive power conversion technology, and Rexel Holdings USA Corp., through its subsidiaries General Supply & Services, Inc. d/b/a Gexpro, and Rexel, Inc. (Rexel) a leader in the distribution of electrical supplies and services are pleased to announce that Rexel and Gexpro will begin carrying Ideal Power's award-winning power converter family of products in its portfolio effectively immediately.
Rexel is one of the largest energy distributors in the world, with over 2,300 branches spread across 38 countries. "Rexel is the ideal distribution partner giving us broad reach in the electrical supply market. This agreement represents an important step toward expanding and diversifying our customer base," said Dan Brdar, CEO of Ideal Power.
Under the terms of the agreement, Ideal Power will supply its 30kW and 125kW power converter products to Gexpro and Rexel for resale to their networks of electrical installers and distributors. "After an exhaustive search of power converter options that would support energy storage capabilities, we selected Ideal Power's solutions based on its robust performance, industry-leading efficiency and its demonstrated reliability. At Rexel Holdings, we strive to deliver the latest most innovative solutions to the energy markets and Ideal Power's converters were a natural fit to our product line," said Mike Seavey, Gexpro National Solar Manager.
About Ideal Power's Converter Family
Ideal Power's award winning hybrid and battery converter products leverage the Company's patented Power Packet Switching Architecture (PPSA), which eliminates the need for an isolation transformer, thus improving efficiency, weight, size and cost. Ideal Power's 30kW converter and 125kW converter family includes a 3-port hybrid converter and 2-port battery converter and are a fraction of the weight of conventional inverters. Its converter products are expected to lower costs and improve efficiency for integrating photovoltaic (PV) and energy storage solutions, and can provide off grid and grid resilient (grid-tied battery backup) capabilities. Its converters also have bi-directional power conversion capabilities.
About Rexel Group
Rexel, a global leader in the professional distribution of products and services for the energy world, addresses three main markets -- industrial, commercial and residential. The Group supports customers around the globe, wherever they are, to create value and run their businesses better. With a network of some 2,300 branches in 38 countries, and c. 30,000 employees, Rexel recorded sales of EUR 13 billion in 2013. Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120, CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, and STOXX600. Rexel is also part of several SRI indices including the DJSI Europe and the FTSE4Good Europe & Global. For more information, visit Rexel's web site at www.rexel.com.
About Ideal Power Inc.
Ideal Power Inc. (NASDAQ: IPWR) has developed a novel, patented power conversion technology called Power Packet Switching Architecture™ (PPSA). PPSA improves the size, cost, efficiency, flexibility and reliability of electronic power converters. PPSA can scale across several large and growing markets, including solar photovoltaic generation, commercial grid storage, and microgrids. Ideal Power also has a licensing-based, capital-efficient business model that can enable it to address these markets simultaneously. Ideal Power has won multiple grants for its PPSA technology, including a $2.5 million grant from the Department of Energy's Advanced Research Projects Agency - Energy (ARPA-E) program, and market-leading customers are incorporating PPSA as a key component of their systems. For more information, visit www.IdealPower.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. 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, that the distribution agreements with Rexel and Gexpro are not exclusive, do not contain minimum purchase commitments, and may be terminated by either party at any time; whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents; whether a demand for energy storage products will grow; whether demand for our products, which we believe are disruptive, will develop; and whether we can compete successfully with other manufacturers and suppliers of energy conversion products, both now and in the future, as new products are developed and marketed. 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.
Rexel Holdings USA Media Contact:
Name: Mike Seavey
Email: Email Contact
Tel: (972) 915 -1857
Ideal Power Media Contact:
Ideal Power Inc. Investor Relations Contact:
MZ North America
Source: Ideal Power
Released February 10, 2015