An Overview of Ideal Power and a Deeper Dive Into B-TRAN™ Bi-Directional Power Switches and the Addressable Markets
|52 Week Range||$1.87-$24.95|
|Avg. Daily Vol. (30 day)||138,594|
|Shares Out (MM)||5.87|
|Market Cap (MM)||$50.73|
|Insiders Own %||33.5%|
|Short Int./% of Float||107.3k / 1.83%|
|Debt to Equity||N.M.|
|Revenue TTM (MM)||N.M.|
|Fiscal Year End||December|
- In this Management Series, we take a look at the overall strategy and technology at Ideal Power. You can access our recent Fireside Chat here.
- Ideal Power has obtained a broad patent estate for B-TRAN™ with 58 patents issued and 26 pending in the US, Europe, China, and other countries.
- B-TRAN™ switches can minimize conduction and switching losses, making current and future control systems more efficient and lightweight.
- Initial end-use markets for the technology include EVs/EV charging, data center UPS, renewables, energy storage, and solid-state circuit breakers.
- Development is progressing well with a pending engineering prototype sampling program expected in 2021 and with initial commercial sales expected in 2022. Necessary funding for the same is in place as a result of the $21.2M public offering in February 2021.
- Ideal Power has partnered with Diversified Technology Inc. (DTI) demonstrating B-TRAN™-enabled, high-efficiency DC circuit breakers for ship electrification under the NAVSEA program; Teledyne, for wafer fabrication; and the University of Texas Semiconductor Power Electronics Center (SPEC), for device drivers and packaging.
- Successful validation of B-TRAN™ in partnership and collaboration with DTI, Teledyne, and the University of Texas could potentially trigger the necessary exposure and reputation with other potential partners and applications.
- The sampling program is expected to begin this year with initial commercial sales expected in 2022. After this initial phase, operational revenues could grow multifold as Ideal Power begins to secure design wins from potential customers.
Ideal Power Inc. (IPWR) is an innovative power semiconductor and power conversion technology company currently focused exclusively on the development and commercialization of its patented Bi-directional, Bi-polar Junction Transistor (B-TRAN™) solid state switch technology. Until 2018, the company's main emphasis was on designing and selling electrical power conversion products based on proprietary Power Packet Switching Architecture (PPSA) technology. In 2019, this business was sold due to the slow growth in the commercial and industrial energy storage market and to have a singular focus on the promising B-TRAN™ technology. Commercialization of the B-TRAN™ technology is progressing well, with proof of concept, a B-TRAN™-enabled demonstration project underway, and a customer sampling program expected in 2021 and initial B-TRAN™ sales expected in 2022. You can access the Water Tower Research Initiation of Coverage Report here.
Shawn Severson: Dan, let’s start with a short history of the company as well as a summary of the company’s B-TRAN technology and what it does?
Dan Brdar: Sure. The company went public in late 2013, with a focus on bringing novel power converter technology to the marketplace. And our initial focus was really the commercial and industrial energy storage markets. And we’re off to a great start. We captured a lot of the key solution providers like Sharp and Mercedes and Gexpro.
But what we saw and what a lot of the solution providers saw was that the commercial and industrial energy storage space was taking too long to develop. So we chose, along with a lot of the key providers, to exit that space. We ended up selling the power converter business to a company called CE+T, a very great technology company.
CE+T was the winner of the $1 million Google Little Box Challenge for power converter power density. Our technology was a g...
President, Chief Executive Officer and Director
Ideal Power Inc.
Mr. Brdar has over 25 years of experience in the power systems and energy industries and has held a variety of leadership positions during his career. From 2012 through April 2018, Mr. Brdar served as Chief Executive Officer and President of Ideal Power Inc. From 2006 through 2011, he was President and CEO of FuelCell Energy Inc., a Nasdaq-listed company with a market cap of over $250 million. During his tenure, the company's revenues increased 235%, to $100 million, manufacturing production increased by over 200% and over $100 million was raised from institutional and strategic investors.
Prior to joining Ideal Power Inc., Mr. Brdar served as the Chief Operating Officer of Petra Solar, a privately held, venture funded solar and smart grid company, where he held full P&L responsibility and led a cross-functional management team across several international markets. From 1997 to 2000, Mr. Brdar held management positions, including Gas Turbine Product Manager, for GE's Power Systems Division, a world leader in power generation systems and products. Additionally, Mr. Brdar has extensive research and development experience at the U.S. Department of Energy through various roles at the National Energy Technology Laboratory in Morgantown, WV and Pittsburgh, PA. Mr. Brdar has a BS in Engineering from the University of Pittsburgh.
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