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Organization and Description of Business
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9 Months Ended | |
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Sep. 30, 2014
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
| Business Description and Basis of Presentation [Text Block] |
Note 1 – Organization and Description of Business Ideal Power Inc. (the “Company”) was incorporated in Texas on May 17, 2007 under the name Ideal Power Converters, Inc. The Company changed its name to Ideal Power Inc. on July 8, 2013 and re-incorporated in Delaware on July 15, 2013. With headquarters in Austin, Texas, it has developed power converter solutions for commercial and industrial energy storage, commercial and industrial energy storage integrated with photovoltaic (“PV”) generation, microgrid applications, distributed wind generation, and electric vehicle fast charging. The principal products of the Company are battery converters used in commercial energy storage. It is expanding its family of products, applications for its products and its customer base.
Since its inception, the Company has generated limited revenues from the sale of products and has financed its research and development efforts and operations primarily through the issuance of convertible debt, governmental grants and, recently, proceeds from its initial public offering.
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