GlobeNewswire Inc | Aug 25, 2020 11:00AM EDT

August 25, 2020

LAFOX, Ill., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL) announced today a new distribution agreement with AC Propulsion to distribute inverter products.

Specializing in the design, development, and production of EV propulsion systems and system components, AC Propulsion and its international affiliates develop and manufacture high performance, high-efficiency SiC & IGBT-based inverter products ranging from complete inverters and inverter boards to power modules, for high power applications up to 350kW. A commitment to advancing technology, product quality, and customer satisfaction drives the company. Its products feature high-efficiency designs, are fully compatible with regenerative motor braking, and come in a modular architecture allowing for a large range of rated power. These inverters work in a number of markets including automotive, marine, industrial, and aircraft.

AC Propulsion is an excellent addition to our growing partnerships. Its products are versatile and will provide new opportunities in growing markets, said Greg Peloquin, Executive Vice President of Richardson Electronics Power & Microwave Technologies group.

Our team is very excited to bring AC Propulsions advanced inverter products, and especially our pioneering SiC technology with its outstanding benefits, to an ever-increasing customer audience, together with Richardson Electronics, said Crystal He, President & CEO of AC Propulsion Inc.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components, flat panel detector solutions and replacement parts for diagnostic imaging equipment; and customized display solutions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Companys strategy is to provide specialized technical expertise and engineered solutions based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About Richardson Electronics Power & Microwave Technologies

For 70 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave and power products. With the launch of the Power & Microwave Technologies group, we continue this legacy and complement it with new products from the worlds most innovative technology partners. Richardson Electronics Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repairall through our existing global infrastructure. More information is available at: www.rellpower.com.

About AC PropulsionAC Propulsion Inc. was founded in California in 1992 and, and together with its international affiliates has more than 25 years of experience designing and manufacturing advanced electric drive and inverter systems primarily for electric vehicle applications. AC Propulsions inverter systems and components include best-in-class SiC- and IGBT-based technologies. Together with its sister company eMotors Advance Corp. Ltd., AC Propulsion supports OEM vehicle manufacturers and other customers around the world from its locations in San Dimas, CA, Beijing and Shanghai. www.acpropulsion.com.

For Details Contact:Chris MarshallCTO/VP of MarketingPhone: (630) 208-2222chrism@rell.com