Ideal Power (IPWR) Emerging Growth Virtual Conference summary

Technology overview and market positioning

• B-TRAN is a disruptive, bidirectional power semiconductor device targeting applications in EVs, renewable energy, energy storage, and industrial circuit protection.

• The device architecture enables lower conduction losses and smaller, more cost-effective OEM products.

• B-TRAN replaces four conventional devices, offering over five times better conduction losses than IGBT plus diode solutions.

• The company operates a fabless, asset-light model, leveraging existing silicon wafer infrastructure.

• Intellectual property is protected by 94 issued patents and 53 pending, with global coverage and trade secrets for double-sided wafer fabrication.

Commercial progress and customer engagement

• Initial sales of B-TRAN discrete devices and SymCool modules are underway, with multiple global customers evaluating products.

• Secured first design win for solid-state circuit breakers with a major Asian manufacturer, with prototype shipments ahead of schedule.

• Ongoing development with Stellantis for custom EV drivetrain modules, with expansion into EV contactor applications.

• Engaged with three global automakers, top power conversion suppliers, and several tier-one automotive and industrial companies.

• Commercial products include discrete devices, SymCool power modules, and SymCool IQ with intelligent controls, targeting 50% gross margins.

Financials and operational outlook

• Clean balance sheet with $15.8 million in cash and no debt, sufficient to fund operations into mid-2025 without revenue.

• 2025 milestones include securing the next phase with Stellantis, completing deliverables for the first circuit breaker design win, and increasing product power ratings.

• Initial revenue expected in the second half of 2024, driven by solid-state switchgear and energy/power segments.

• Automotive qualification testing underway, expected to finish this year, supporting both automotive and industrial sales.

• Plans to license technology to large customers for additional margin enhancement.