GlobeNewswire Inc | Mar 4, 2021 08:30AM EST

March 04, 2021

AUSTIN, Texas, March 04, 2021 (GLOBE NEWSWIRE) -- Ideal Power Inc.(Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN bi-directional power switches, today announced that, in collaboration with The University of Texas at Austins Semiconductor Power Electronics Center, it has finalized the development and fabrication of a new B-TRAN driver for use in its customer sampling program.

As a double-sided device with a unique architecture, B-TRAN requires a driver that is designed to control and coordinate the operation of both sides of the device simultaneously. The final driver design builds on the prototype driver and incorporates additional functionality and reduces the size of the original design. It also improves B-TRAN switching performance through faster turn-off, resulting in significantly lower switching losses. As part of the driver development process, Ideal Power identified improvements in performance and device protection that enhance the capability of B-TRAN. Patent protection for these inventions was filed with the US Patent Office.

Developing, designing and fabricating this driver removes the need for potential customers to do so, facilitating their technical evaluation by presenting them with test-ready engineering prototype samples, stated Dan Brdar, President and Chief Executive Officer of Ideal Power. The feedback we expect to receive through our sampling effort should give us valuable input into how to best combine the driver and packaged B-TRAN into the intelligent power module that we plan bring to market as part of our future commercialization of B-TRAN. We expect that offering an intelligent power module rather than a discrete device will help accelerate B-TRANs eventual commercial adoption. This completed driver design is an important step toward catalyzing our B-TRAN vision for into reality.

About Semiconductor Power Electronics Center (SPEC)SPEC is a center of excellence in power electronics research and development at The University of Texas at Austin. For details please visit spec.ece.utexas.edu.

About Ideal Power Inc.Ideal Power (NASDAQ: IPWR) is pioneering the development of its broadly patented bi-directional power switches, creating highly efficient and ecofriendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS / data center and other industrial and military applications. The Company is focused on its patented Bi-directional, Bi-polar Junction Transistor (B-TRAN) semiconductor technology. B-TRAN is a unique double-sided bi-directional AC switch able to deliver substantial performance improvements over today's conventional power semiconductors. Ideal Power believes B-TRAN modules will reduce conduction and switching losses, complexity of thermal management and operating cost in medium voltage AC power switching and control circuitry. For more information, visit www.IdealPower.com.

Forward-Looking StatementsAll statements in this release that are not based on historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While Ideal Powers management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of Ideal Powers control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties associated with market conditions, as well as risks and uncertainties set forth in Ideal Powers quarterly, annual and other reports filed with the SEC. Furthermore, Ideal Power operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Ideal Power disclaims any intention to, and undertake no obligation to, update or revise forward-looking statements.

Ideal Power Investor Relations Contact:LHA Investor RelationsCarolyn Capaccio, CFA; Keith FetterT: 212-838-3777IdealPowerIR@lhai.com