Ideal Power Inc. (NASDAQ: IPWR) is experiencing a significant surge in its stock value during the morning session today, marking a 13.99% increase to $11.98 following a substantial 36.49% rise in the previous session, which concluded at $10.51.
This surge follows Ideal Power’s announcement regarding the commencement of commercial shipments of its SymCool Power Module to a prominent global client. This move signifies a crucial step forward for Ideal Power in the commercialization of its B-TRAN technology, with expectations of securing design wins and custom development agreements with major OEMs throughout the year.
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The SymCool Power Module, designed to cater to various applications including solid-state switchgear, renewable energy inverters, industrial inverters, and electric vehicles (EVs), has demonstrated superior performance compared to existing IGBT-based designs. Customer evaluations have confirmed lower conduction losses and significant efficiency benefits, particularly in the solid-state switchgear market where demand for low conduction losses is paramount.
The SymCool Power Module, powered by Ideal Power’s innovative B-TRAN technology, offers inherent bidirectional capability, translating to fewer switches required compared to traditional IGBT-based modules. This results in more cost-efficient OEM designs and greater flexibility in achieving the required current levels for diverse applications.
One of the critical applications of the SymCool Power Module lies in circuit breakers, where low conduction losses are essential for efficient operation, particularly in modernizing power grids and integrating renewable energy sources. The module’s advanced features meet the demanding requirements of circuit breaker applications, offering fast switching speeds and significantly lower conduction losses compared to traditional solutions.
Moreover, the market for B-TRAN technology is expected to experience substantial growth in the coming years, driven by the increasing adoption of electric vehicles, renewable energy, and electrification initiatives. The solid-state switchgear market, including applications such as solid-state circuit breakers, presents a significant growth opportunity for B-TRAN technology, with a projected SAM reaching $1.0 billion by 2028.
Ideal Power’s advancements in commercializing its SymCool Power Module and leveraging B-TRAN technology demonstrate significant potential for addressing the evolving needs of various industries, from renewable energy integration to electric vehicle infrastructure.
