Expansion of Automotive Partnerships
Ideal Power entered into a collaboration with a fourth global Tier 1 automotive supplier and is now collaborating with a total of 5 automakers, including 4 of the top 10 global automakers.
Solid-State Circuit Breaker Development
The company shipped updated solid-state circuit breaker prototypes to their first design win customer, integrating additional capabilities. The customer plans to launch their first B-TRAN-enabled solid-state circuit breaker product later this year.
Stellantis Purchase Order
Stellantis informed Ideal Power of an upcoming purchase order for custom development and package devices targeting multiple EV applications.
Partnership with Kaimei Electronic Corp.
Ideal Power added a partnership with Kaimei Electronic Corp. to distribute its products throughout Asia, a significant market for power electronics.
Successful Testing and Reliability
Completed third-party automotive prequalification and reliability testing of B-TRAN devices with zero failures. The company expects to complete full third-party automotive qualification later this year.
Increasing Interest in B-TRAN Technology
Growing interest for B-TRAN technology in industrial and automotive applications, particularly for circuit protection applications such as solid-state circuit breakers.
Financial Stability
Ideal Power has no debt and a clean capital structure with cash and cash equivalents totaling $11.1 million as of June 30, 2025.