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Ideal Power Announces Collaboration with Fourth Global Tier 1 Automotive Supplier

1. IPWR collaborates with a fourth Tier 1 automotive supplier for EV applications. 2. B-TRAN contactors show strong interest from global automotive manufacturers. 3. Solid-state contactors could surpass electromechanical ones in the next five years. 4. B-TRAN technology reduces losses and improves safety in EV systems.

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FAQ

Why Bullish?

The growing partnerships and interest in B-TRAN technology indicate rising demand, potentially boosting stock value. Historical instances show increased stock performance when companies gain major contracts or collaborations.

How important is it?

The expansion into automotive contracts indicates significant market engagement, enhancing IPWR's standing as a key player in semiconductor solutions for EVs.

Why Long Term?

The projected market shift to solid-state contactors could solidify IPWR's position over five years, leading to sustainable revenue growth. Past examples include companies like Tesla, which benefited greatly from market shifts toward new technologies.

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TSLAGMFAVL
, /PRNewswire/ -- Ideal Power Inc. (Nasdaq: IPWR) ("Ideal Power," the "Company," "we," "us" or "our"), developer and innovative provider of the highly efficient and broadly patented B-TRAN® bidirectional semiconductor power switch, today announced the Company is collaborating with a fourth global Tier 1 automotive supplier that serves several top 10 global automotive OEMs. Ideal Power is engaged with multiple engineering teams of this global Tier 1 automotive supplier on the use of B-TRAN®-enabled contactors as a potential replacement for electromechanical contactors in electric vehicle (EV) and hybrid EV applications. "We are pleased to announce the recent shipment of devices to a fourth Tier 1 automotive supplier. It's exciting to witness the heightened levels of customer engagement and collaboration for solid-state EV contactors. B-TRAN®-enabled solid-state EV contactors are generating strong interest from global automotive OEMs and their Tier 1 suppliers due to the ultra-low conduction losses and inherent bidirectionality of our B-TRAN® technology. This represents another engagement for us with the world's leading automakers and suppliers as we previously announced engagements with three global automakers, including Stellantis, and three other Tier 1 auto suppliers," said Dan Brdar, President and Chief Executive Officer of Ideal Power. A conventional EV contactor is an electromechanical device that disconnects electric vehicle subsystems from the vehicle's battery in the event of a crash or fault or when the vehicle or subsystem is not operational. Contactors are a vital safety feature to control high-current and high-voltage loads to and from the battery. Several contactors, typically 5 to 8, are used in an electric vehicle to disconnect the battery from loads such as the motor drive, heating and cooling systems, and charging systems. Automotive OEMs and their Tier 1 suppliers are looking at solid-state, or semiconductor-based, contactors as a fast acting, safer and more reliable solution for EV contactors with the added benefits of programmability and diagnostic capability. B-TRAN®-enabled solid-state contactors provide several benefits over electromechanical contactors. They act orders of magnitude faster than electromechanical breakers, thereby eliminating arcing and improving safety, and are more reliable as they do not include physical contacts subject to wear. They have ultra-low conduction losses and are bidirectional, reducing the number of switches required in a solid-state EV contactor by half. In addition, they provide programmable settings for trip and current limits as well as built-in safety diagnostics. B-TRAN®-enabled contactors also provide significantly lower losses than EV contactors utilizing silicon carbide semiconductor devices at a lower cost. The Company believes that, within the next five years, solid-state contactors will surpass electromechanical contactors in the EV market. About Ideal Power Inc. Ideal Power (NASDAQ: IPWR) is the developer and innovative provider 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 that delivers substantial performance improvements over today's conventional power semiconductors. Ideal Power's B-TRAN® can reduce conduction and switching losses, complexity of thermal management and operating cost in AC power switching and control circuitry. For more information, visit the Company's website at www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook. 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. 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 our expectation that, within the next five years, solid-state contactors will surpass electromechanical contactors in the EV market and that B-TRAN®-enabled EV contactors will potentially replace electromechanical contactors in EV and hybrid EV applications. 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 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, our inability to predict with precision or certainty the pace and timing of development and commercialization of our B-TRAN® technology, the rate and degree of market acceptance for our B-TRAN®, the impact of global health pandemics on our business, supply chain disruptions, and the expected performance of future products incorporating our B-TRAN®, 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 Jeff ChristensenDarrow Associates Investor Relations[email protected] 703-297-6917 SOURCE IDEAL POWER INC. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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