Ideal Power Announces Distribution Agreement with Kaimei Electronic Corp.

, /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 a partnership with Kaimei Electronic Corp. ("Kaimei"), a leading manufacturer of electrolytic capacitors, resistors and motor fans. Under this agreement, Kaimei Electronic Corp. will distribute Ideal Power's products throughout Asia. Kaimei Electronic Corp. and Ideal Power are partnering to promote Ideal Power's innovative B-TRAN® technology to Kaimei's existing and prospective customer base alongside their own product portfolio. B-TRAN® will be the first product line for which Kaimei will operate as a third-party distributor. Kaimei has had decades of success as a manufacturer of high value-added electronic components selling into 60 countries in Asia, Europe, and the Americas. Kaimei and Ideal Power share many target markets including industrial, automotive, renewable energy, energy storage, UPS and EV charging. The partnership will leverage Kaimei's existing sales expertise and customer network as the same customers for Kaimei's products are also potential customers for B-TRAN®. "We are excited to enter into this distribution partnership with Kaimei. They already serve customers in B-TRAN® target industrial, utility and automotive markets in Asia. Asia is the world's largest market for power electronics, and Asian companies typically move faster than their European and U.S. counterparts in adopting new technologies. We look forward to collaborating with Kaimei to secure orders to drive revenue growth and potentially lead to additional B-TRAN® design wins," said Dan Brdar, President and Chief Executive Officer of Ideal Power. The distribution agreement with Kaimei aligns with Ideal Power's asset-light business model. Ideal Power leverages the large investment already made in silicon processing, packaging, distribution, demand creation and support infrastructure. This business model allows the Company to continue focusing on disruptive B-TRAN® technology improvements and commercialization while driving working capital efficiency. 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. About Kaimei Electronic Corp. Kaimei Electronic Corp., founded in 1978 and listed on the Taiwan Stock Exchange since 1998, manufactures and sells electrolytic capacitors, resistors and motor fans offering high value-added products and services in 60 countries in Asia, Europe, and the Americas. Its product portfolio includes conductive polymer aluminum solid, conductive polymer hybrid and aluminum electrolytic capacitors, thick film and metal alloy resistors, DC fans, DC blowers, AC fans and accessories. The Kaimei Group has successfully grown through acquisition and integration, offering high value-added products and services across several industry segments. It continuously invests in its capabilities of product development, manufacturing, and marketing while developing deep domain knowledge in the segments in which it operates. The integration of two companies, Teapo Electronic and Kaimei Electronic, was completed in 2019, accelerating businesses growth for the combined entity. The Company strives to deliver excellence with its continuous business expansion and strengthening core competencies. 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 our collaboration with Kaimei will drive revenue growth for us and potentially lead to additional design wins. 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

Ideal Power Announces Distribution Agreement with Kaimei Electronic Corp.

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