Ideal Power Introduces Its Grid Resilient 30kW Power Conversion System, Receives Initial Multi-Unit Order
AUSTIN, TX -- (Marketwired) -- 02/11/15 -- Ideal Power Inc. (NASDAQ: IPWR), a developer of a disruptive power conversion technology, introduced its Grid Resilient 30kW Power Conversion System (PCS) with microgrid forming capabilities. This new product will work in both 50Hz and 60Hz environments and support grid resiliency for commercial and industrial customers world-wide, giving them the additional ability to form their own microgrid to enable backup power during grid power outages. Additionally, the Company is announcing that it has secured a multi-unit order for this new product from The Boeing Company.
The newest generation 30kW 2-Port PCS is based on Ideal Power's 30kW Hybrid Converter and utilizes its award-winning Power Packet Switching Architecture™ (PPSA) which provides electrical isolation while eliminating the need for a transformer, making it smaller, lighter and more cost effective than traditional power converters. This new power converter has bi-directional DC and AC ports supporting both grid-tied and microgrid applications.
"We are excited to continue the evolution of our technology to meet the demands of the growing distributed electric power industry. We believe that the added 50Hz capabilities and microgrid features will make our newest products applicable world-wide and accelerate the deployment of energy storage based local microgrids for our customers," said Dan Brdar, CEO of Ideal Power.
The Company's new 30kW 2-Port PCS will dramatically reduce the size and weight of microgrid forming power electronics which reduces material, manufacturing, shipping and installation costs. Its PPSA architecture also significantly improves round-trip efficiency over traditional power converters, further improving payback periods.
The Company is now taking orders for this new product, which will be UL Certified and begin shipping in May.
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, electrified vehicle charging, and commercial grid storage. 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 statements include our statement regarding the anticipated uses for and performance of our Grid Resilient 30kW Power Conversion System and the expected acceleration of deployment of energy storage based local microgrids for our customers. While 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 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, whether our new products will perform as anticipated within commercial deployments, 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. The product order described in this release is subject to commercial terms that, under certain circumstances, may allow the customer to delay delivery of product and thus delay associated revenue. 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.
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Source: Ideal Power
Released February 11, 2015