AUSTIN, Texas - Ideal Power Inc. (NASDAQ: IPWR), a developer of semiconductor power switch technology, has received a multi-unit order for its SymCool® IQ intelligent power modules from a company engaged in circuit protection and power conversion manufacturing. The order follows previous acquisitions of SymCool® modules by the same customer, indicating a continued interest in Ideal Power's technologies for applications in electric vehicles, EV charging, renewable energy, and data centers. With a market capitalization of approximately $50 million, the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 21x, according to InvestingPro data.
While the stock has experienced a challenging period, declining over 31% in the past year, Dan Brdar, President and CEO of Ideal Power, highlighted the order as a significant step in the commercialization of their B-TRAN® technology, noting the potential for SymCool® IQ to expand the company's market reach. InvestingPro subscribers can access 12+ additional exclusive insights about Ideal Power's financial health and growth prospects through the comprehensive Pro Research Report. The SymCool® IQ module is designed to enhance energy efficiency and enable bidirectional power flow, which can be particularly beneficial when integrating renewable energy sources with energy storage systems.
The SymCool® IQ leverages a bidirectional BTRAN® multi-die packaging design and incorporates an intelligent driver to optimize its bidirectional capabilities. Rated at 1200V and 200A, the module offers lower losses and inherent bidirectionality when compared to conventional IGBT modules. These features are intended to provide Original Equipment Manufacturers (OEMs) with benefits such as energy savings, reduced operating costs, and minimal thermal management requirements, leading to more compact and cost-effective product designs. The integrated intelligent driver also brings added protection features like overcurrent and undervoltage protection, as well as temperature sensing.
Ideal Power is known for its patented B-TRAN® semiconductor technology, which aims to reduce power switching and control losses, simplify thermal management, and decrease operating costs in various applications, including electric vehicles and their charging infrastructure, renewable energy systems, and industrial and military use.
The company's announcement is based on forward-looking statements that involve certain risks and uncertainties, including the commercial success of B-TRAN® technology and market acceptance of its products. While analysts project revenue growth of over 450% for the current year and expect the company to achieve profitability, Ideal Power has issued a disclaimer that actual results may differ from those projected in forward-looking statements due to various risks, uncertainties, and other factors such as patent protection, product development, and market competition. For detailed financial analysis and expert insights, investors can access the full suite of valuation metrics and growth indicators through InvestingPro's advanced analytics platform.
This news report is based on a press release statement from Ideal Power Inc.
In other recent news, semiconductor company Ideal Power reported substantial progress in its B-TRAN technology and partnerships during its Third Quarter 2024 Results Call. Despite modest revenue for Q3 2024, the company anticipates a revenue increase in the second half of 2025. Notably, Ideal Power received a significant order for its B-TRAN devices from a global Tier 1 automotive supplier and is currently in Phase 3 of a program with Stellantis (NYSE:STLA). The company also established new distributor partnerships with RYOSHO and Sekorm to increase market reach in Asia.
Third-party automotive qualification testing for B-TRAN devices is underway, with initial results being positive. The company projects the serviceable addressable market for B-TRAN to exceed $8 billion by 2028. While the company experienced a Q3 2024 cash burn of $2.4 million, it remains debt-free, with cash and cash equivalents standing at $18.7 million. These are among the recent developments at Ideal Power, as the company continues to make strategic moves to capitalize on the increasing demand for its products.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.