Ideal Power scores first design win and months ahead on program schedule

Core Insights - Ideal Power Inc is progressing ahead of schedule in its joint development program for solid-state circuit breakers, attributed to effective collaboration and integration processes [1][2] Group 1: Product Development and Market Strategy - The B-TRAN based solution is designed to fit seamlessly within existing circuit breaker designs, expediting the customer's time to market for their initial product [2] - Prototypes of the circuit breaker are expected to be completed and shipped by late March or early April, with commercial sales anticipated to begin in 2025 [2][8] - The customer initially sought a higher-performing alternative to their existing circuit breaker, which was not meeting performance expectations [3] Group 2: Competitive Advantage and Technology Differentiation - Ideal Power's technology offers a more efficient and cost-effective solution compared to silicon carbide-based devices, addressing critical issues like cost and conduction losses [4] - The company's solid-state circuit breaker technology is over 100 times faster than conventional electromechanical breakers, making it suitable for applications requiring rapid response [14] - The B-TRAN technology is designed to minimize conduction losses, which is essential for continuously conducting devices like circuit breakers [13][14] Group 3: Financial Outlook and Revenue Potential - The first design win for the solid-state circuit breaker could generate over $1 million in revenue in its second year, with expectations for scaling B-TRAN adoption across other customers [11] - Ideal Power has a serviceable addressable market opportunity of$1 billion in solid-state switchgear and $1.4 billion in energy and power [13] - The company has$15.8 million in cash and no long-term debt, allowing for strategic investments to support the transition from development to revenue generation starting in 2025 [15]