Ideal Power Delivers Initial B-TRAN™ Devices to Diversified Technologies under NAVSEA Program
10 August 2022 - 2:30PM
Ideal Power Inc. (Nasdaq: IPWR), pioneering the development
and commercialization of the highly efficient and broadly patented
B-TRAN™ bidirectional power switch, today announced it delivered
initial Bidirectional, Bipolar Junction Transistor (B-TRAN™)
devices to Diversified Technologies, Inc. (DTI) under the
contract awarded to DTI by the United States Naval Sea Systems
Command (NAVSEA) to develop and demonstrate a B-TRAN™ enabled
high efficiency 12kV medium voltage direct current (MVDC) circuit
breaker. These initial devices will be utilized for
characterization and testing to support DTI’s breaker design
efforts in advance of future device deliveries for incorporation
into a full-scale MVDC circuit breaker. Prior to delivery, the
B-TRAN™ devices were tested and demonstrated results consistent
with the very low losses predicted by prior internal and
third-party simulations.
“The delivery of initial packaged B-TRAN™
devices to DTI is a significant accomplishment under the NAVSEA
program. These devices incorporate the wafer processing
improvements and packaging design developed under the program,”
said Dan Brdar, President and Chief Executive Officer of Ideal
Power. “Circuit breakers perform a critical function in power
generation, transmission, and distribution systems to protect
against power surges and short circuits, with the circuit breaker
market overall projected to grow at a compound annual growth rate
of over 6% to approximately $26 billion by 2027, driven by the
increased electrification of our daily lives. The fast-switching
speed of B-TRAN™ solves the slow operating time and electrical
arcing of traditional mechanical circuit breakers while also
providing more than 50% lower conduction losses compared to
solid-state circuit breakers utilizing conventional semiconductor
power switches. These benefits position B-TRAN™ to potentially be
an enabling technology for circuit breaker applications such as
distributed direct current (DC) networks.”
The NAVSEA project is funded under the
Department of Defense’s Rapid Innovation Fund, which is designed to
accelerate the commercialization of high-value, high-impact
technologies. Ideal Power and DTI’s collaboration is expected to
help establish the viability of shipboard MVDC power distribution
by delivering extremely fast fault interruption, low fault
currents, flexible programmable coordination, and mechanical
isolation, which are key factors to the reliable and safe operation
of DC power systems. The U.S. Navy has stated a goal to increase
shipboard power densities in order to field ships with greater
operational flexibility. The use of MVDC in ship electrification
and distributed DC networks may result in less vulnerable power
distribution systems and naval vessels.
About Ideal Power Inc.Ideal Power (NASDAQ:
IPWR) is pioneering the development of its broadly patented
bidirectional semiconductor power switch, creating highly efficient
and ecofriendly energy control solutions for electric vehicle,
electric vehicle charging, renewable energy, energy storage, UPS /
data center, solid-state circuit breaker and other industrial and
military applications. The Company is focused on its patented
Bidirectional, Bipolar Junction Transistor (B-TRAN™) semiconductor
technology. B-TRAN™ is a unique double-sided bidirectional AC
switch able to deliver substantial performance improvements over
today's conventional power semiconductors. Ideal Power believes
B-TRAN™ will reduce conduction and switching losses, complexity of
thermal management and operating cost in medium voltage AC power
switching and control circuitry. For more information, visit
www.IdealPower.com.
Safe Harbor StatementAll 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. While Ideal Power’s
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. Such forward-looking
statements include, but are not limited to, statements regarding
the benefits of B-TRAN™ in MVDC circuit breakers, the projected
growth of the circuit breaker market, expectations regarding
B-TRAN™ being an enabling technology for solid-state circuit
breaker applications and the viability of shipboard MVDC power
distribution. 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, the impact of COVID-19 on our
business, financial condition and results of operations, the
success of our B-TRAN™ technology, including whether the patents
for our technology provide adequate protection and whether we can
be successful in maintaining, enforcing and defending our patents
and our inability to predict with precision or certainty the pace
and timing of development and commercialization of our B-TRAN™
technology, including the timing of the completion of our wafer
fabrication runs with our semiconductor fabrications partners and
our continued success engaging companies to participate in our
customer sampling program, and uncertainties set forth in our
quarterly, annual and other reports filed with the Securities and
Exchange Commission. 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, except
as required by applicable law.Ideal Power Investor
Relations Contact: LHA Investor RelationsCarolyn
Capaccio, CFAT: 212-838-3777IdealPowerIR@lhai.com
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