Ideal Power (IPWR) Emerging Growth Conference 78 summary

Commercialization strategy and market focus

• Targeting the solid-state switchgear market with two products: B-TRAN discrete device and SymCool Power Module.

• Technology offers ultra-low conduction losses, bidirectionality, and faster operation than electromechanical breakers.

• First design win announced with a major Asian circuit protection equipment manufacturer, with development through H1 2025 and commercial sales expected later in 2025.

• Initial sales could reach several hundred thousand dollars in the first year, with potential to exceed $1 million over two years as a family of products is developed.

• Focused on industrial market growth, with additional opportunities in renewables, energy storage, and EV charging.

Revenue outlook and growth trajectory

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

• SymCool IQ product, targeting circuit protection and power conversion, received its first order in December and is expected to generate more orders soon.

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

Commercial traction and competitive positioning

• Recent design win has accelerated interest and evaluation from multiple large, global companies.

• First customer is expected to launch products after a short development cycle, providing a first-mover advantage.

• Business development efforts include partnerships with three distributors (one in the US, two in Asia) to broaden market reach.