Ideal Power Inc
NASDAQ:IPWR
Ideal Power Inc
Ideal Power, Inc. engages in the development of power converter solutions for photovoltaic generation, grid-storage and electrified vehicle charging. The company is headquartered in Austin, Texas and currently employs 7 full-time employees. The company went IPO on 2013-11-22. The firm is engaged in the development of its bidirectional power switches and energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, uninterruptible power supply (UPS)/ data center, solid-state circuit breaker and other industrial and military applications. B-TRAN is a double-sided bidirectional alternative circuit (AC) switch that delivers performance improvements over conventional power semiconductors. The firm's B-TRAN modules reduce conduction and switching losses, complexity of thermal management and operating costs in medium voltage AC power switching and control circuitry.
Ideal Power, Inc. engages in the development of power converter solutions for photovoltaic generation, grid-storage and electrified vehicle charging. The company is headquartered in Austin, Texas and currently employs 7 full-time employees. The company went IPO on 2013-11-22. The firm is engaged in the development of its bidirectional power switches and energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, uninterruptible power supply (UPS)/ data center, solid-state circuit breaker and other industrial and military applications. B-TRAN is a double-sided bidirectional alternative circuit (AC) switch that delivers performance improvements over conventional power semiconductors. The firm's B-TRAN modules reduce conduction and switching losses, complexity of thermal management and operating costs in medium voltage AC power switching and control circuitry.
Financing: Raised $12.6 million in estimated net proceeds from a public offering and concurrent private placement, led by existing institutional holders and insiders.
Cash position: Cash and cash equivalents were $6.1 million at December 31, 2025 (does not include the $12.6 million of proceeds).
Cash burn: Q4 2025 cash burn was $2.2 million (below guidance), full year 2025 cash burn was $9.6 million (also below guidance); company expects Q1 2026 cash burn of approximately $2.6 million to $2.8 million and full year 2026 cash burn of approximately $10.5 million.
Commercial deals: Announced a multiyear strategic cooperation agreement with Lazzen for B-TRAN-enabled circuit protection products and a letter of intent with an Asian power module manufacturer to develop B-TRAN-based modules; continuing engagement and a PO with Stellantis (first of five deliverables completed).
Product readiness: Management says the first-generation B-TRAN device meets target applications and current work is largely customer-specific integration, reference design kits, and qualification testing (automotive reliability testing expected complete by this summer).
Pipeline: Nearly $200 million of potential sales opportunities identified; earliest revenue expected from solid-state circuit breakers, static transfer switches, BESS and data center applications.
IP & supply strategy: 100 issued B-TRAN patents (48 outside the U.S.), 78 pending; company treats key wafer process as trade secret and works with foundries/packagers in IP-respecting countries.
Milestones & hires: Plan to add sales leader in Europe and a field applications manager in Asia, expand distributor programs, and pursue selective strategic investments with market leaders.
