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AUSTIN - Ideal Power Inc. (NASDAQ:IPWR) has received an order from a global Tier 1 automotive supplier for its B-TRAN semiconductor devices and related components, according to a press release statement issued Thursday. The company, currently valued at $32.7 million, maintains a strong balance sheet with more cash than debt and a healthy current ratio of 20.26x, according to InvestingPro data.
The order includes packaged B-TRAN devices, SymCool power modules, solid-state circuit breaker reference design boards and drivers. The automotive supplier, which serves several Top 10 global automotive OEMs, will evaluate these components for a solid-state electric vehicle contactor design implementation.
The Tier 1 supplier has also requested budgetary quotes for millions of SymCool power modules as part of their product planning process.
"This order is a significant milestone in the commercialization of our B-TRAN technology," said Dan Brdar, President and CEO of Ideal Power. The company reports it is now engaged with three global automakers, including Stellantis, and five global Tier 1 auto suppliers. While the stock has faced challenges, declining nearly 48% over the past six months, InvestingPro analysis suggests the company is currently trading below its Fair Value, with analysts projecting profitability this year.
Electric vehicle contactors are safety components that disconnect vehicle subsystems from the battery during crashes, faults, or when the vehicle is being serviced. Typical electric vehicles employ 5 to 8 contactors.
According to the company, B-TRAN-enabled solid-state contactors offer advantages over traditional electromechanical contactors, including faster operation, elimination of arcing, improved reliability, and programmable safety features. The company claims its technology provides lower conduction losses and requires 50% fewer semiconductor switches due to its bidirectional capabilities.
Ideal Power develops bidirectional semiconductor power switch technology for electric vehicle, renewable energy, energy storage, and other industrial applications. Despite current revenue of just $0.02 million in the last twelve months, analysts expect significant growth ahead. InvestingPro subscribers have access to 18 additional investment tips and a comprehensive Pro Research Report for deeper insights into this emerging technology player.
In other recent news, Ideal Power Inc. reported its first-quarter 2025 earnings, surpassing expectations with a smaller-than-anticipated loss per share and a substantial revenue beat. The company’s earnings per share (EPS) came in at -$0.30, outperforming the forecast of -$0.35, while revenue reached $12 million, significantly higher than the expected $900,000. Ideal Power announced a collaboration with a fourth global Tier 1 automotive supplier, working on integrating its B-TRAN devices into electric and hybrid vehicles, which could potentially replace traditional electromechanical contactors. This adds to their existing engagements with major automakers, including Stellantis. Additionally, Ideal Power has secured a sales partnership with Queensland Semiconductor Technologies to expand its market reach. Despite these positive developments, the company’s stock experienced a minor dip, reflecting investor caution. The firm maintains a strong cash position with no debt, and analysts from Westpark Capital noted the potential for profitability with a few key design wins. Ideal Power continues to focus on expanding its presence in the electric vehicle and industrial markets, anticipating revenue growth in the latter half of 2025.
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