NEWS
Ideal Power Announces Orders from Global Tier 1 Automotive Supplier
Ideal Power (NASDAQ: IPWR) has received orders from a global Tier 1 automotive supplier listed on NYSE. The customer ordered multiple B-TRAN™ devices, a SymCool® power module, a solid-state circuit breaker evaluation board, and a driver for EV contactor applications. The company is leveraging its success with Stellantis to engage other auto OEMs and Tier 1 suppliers. The high-power EV contactor market is projected to reach $3.7 billion in 2025, with solid-state contactors potentially capturing half of this market due to their advantages over electromechanical contactors, including faster action, improved safety, and lower costs.
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