Ideal Power (IPWR) Emerging Growth Conference 78 summary

Commercialization strategy and market focus

• Targeting the solid-state switchgear market with B-TRAN discrete device and SymCool Power Module, engaging with several large companies.

• Technology offers ultra-low conduction losses, bidirectionality, programmability, and enhanced safety, addressing key industry needs.

• Announced first design win with a major Asian circuit protection manufacturer, with a development program through H1 2025 and commercial sales expected later in 2025.

• Initial product targets grid-tied solar, energy storage, and utility electric distribution markets, with potential for a family of products.

• SymCool IQ product opens additional markets such as renewables, EV charging, and data centers, with first order received in December and more expected.

Revenue outlook and growth trajectory

• First year of sales from the design win could generate several hundred thousand dollars, with potential to reach $1 million over two years.

• Solid-state switchgear and related energy markets represent a $2.4 billion opportunity, expected to drive revenue ramp in 2024 and significant growth in 2026.

• Design win is expected to accelerate interest and engagement from other large companies, creating a first-mover advantage.

• Path to profitability is focused on industrial markets, with automotive and EV opportunities seen as longer-term growth drivers.

Development and partnership updates

• Development program for the design win includes prototype building, device integration, and customer feedback, aiming for early completion.

• Business development efforts include working with three distributors (one in the US, two in Asia) to expand reach and educate potential customers.

• Automotive reliability test program is nearing completion of its first round, with positive device-level results and ongoing packaging improvements.

• Multiple large companies are actively evaluating the technology, with increased engagement following the recent design win.