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Core Insights - Ideal Power Inc. has secured a multi-unit order for its SymCool® IQ intelligent power module from a customer specializing in circuit protection and power conversion solutions, marking a significant milestone in the commercialization of its B-TRAN® technology [1][3] Group 1: Product Development and Market Expansion - The customer has previously ordered multiple SymCool® power modules and drivers, indicating ongoing interest in SymCool® and SymCool® IQ modules for applications in electric vehicles, renewable energy, and data centers [2] - SymCool® IQ enhances the existing SymCool® power module by integrating an intelligent driver optimized for bidirectional operation, rated at 1200V and 200A, offering advantages such as lower losses and inherent bidirectionality compared to IGBT modules [4] - The integration of an intelligent driver in SymCool® IQ provides protection features like overcurrent protection, undervoltage protection, and temperature sensing, which are beneficial for OEM customers [4] Group 2: Strategic Importance - The order for SymCool® IQ opens additional markets for Ideal Power, including renewable energy and energy storage, as the technology is being evaluated for pairing renewable energy with energy storage solutions [3] - The advantages of SymCool® IQ translate to increased energy savings, lower operating costs, and reduced thermal management requirements, leading to more compact and cost-effective solutions for OEM customers [4] Group 3: Company Overview - Ideal Power is focused on the development and commercialization of its patented B-TRAN® semiconductor technology, which aims to create efficient and eco-friendly energy control solutions for various applications, including electric vehicles and data centers [5]

Core Insights - Ideal Power Inc has made significant progress in its commercialization roadmap, particularly in the electric vehicle (EV) sector, through partnerships and initial orders for its B-TRAN technology [1][4] - The company is actively engaging with major automotive players, including Stellantis, to integrate its technology into EV drivetrains [2][4] - Ideal Power has expanded its distribution network in key markets like Japan and China, enhancing its reach in the automotive and industrial sectors [3][7] Financial Performance - For Q3, Ideal Power reported a net loss of $2.7 million, consistent with the previous year, while operating expenses slightly increased to $2.9 million [4] - Cash used in operations and investments rose to $2.4 million from $1.9 million a year earlier, indicating increased investment in growth initiatives [4] - The company ended Q3 with nearly $19 million in cash and no debt, providing a solid financial foundation for future R&D and commercialization efforts [16] Partnerships and Collaborations - Ideal Power has partnered with a third global automaker to explore the application of B-TRAN technology in EV contactors, receiving initial orders from a Tier 1 supplier [1][4] - The partnership with Stellantis is progressing to Phase III, focusing on integrating B-TRAN semiconductors into a power module for an inverter, with automotive qualification testing expected to be completed by mid-2025 [2][4] - New distributors RYOSHO in Japan and Sekorm Advanced Technology in China have been added to the company's network, facilitating access to significant markets for power semiconductor applications [3][7] Technology and Testing - Automotive qualification testing is crucial for B-TRAN technology, ensuring it meets the rigorous demands of automotive applications, which can also benefit industrial applications [5][6] - The testing process involves thousands of power cycles and is essential for demonstrating the reliability of the new technology to potential customers [4][5] - Achieving automotive qualification is expected to enhance the commercial viability of B-TRAN, providing necessary data to assure customers of its long-term reliability [6][5] Future Outlook - The company aims to convert relationships with large automotive companies into design wins, integrating its technology into OEM products [16] - Key priorities include completing automotive qualification testing and expanding the customer pipeline to facilitate broader adoption of B-TRAN technology [16] - The anticipated completion of the B-TRAN power module for the drivetrain inverter by 2025 is a significant milestone for the company [4][16]

Ideal Power Inc. (NASDAQ:IPWR) Q3 2024 Earnings Conference Call November 14, 2024 10:00 AM ET Company Participants Jeff Christensen - IR Daniel Brdar - President and CEO Tim Burns - CFO Conference Call Participants Brian Dobson - Clear Street Operator Good morning, ladies and gentlemen, and welcome to the Ideal Power Third Quarter 2024 Results Call. [Operator Instructions] As a reminder, this event is being recorded. I would now like to turn the conference over to Mr. Jeff Christensen, Investor Relations. S ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

Financial Performance - Ideal Power Inc. generated $80,624 in commercial revenue for the nine months ended September 30, 2024, compared to $100,000 for the same period in 2023, reflecting initial orders from customers evaluating its technology[45][60]. - The company recorded a net loss of $7,822,039 for the nine months ended September 30, 2024, which is a 4% increase compared to a net loss of $7,548,272 for the same period in 2023[67]. Expenses - Research and development expenses increased by $276,449, or 6%, to $4,613,703 for the nine months ended September 30, 2024, driven by higher personnel and semiconductor fabrication costs[63]. - General and administrative expenses slightly increased by $12,090, or less than 1%, to $2,695,041 for the nine months ended September 30, 2024[64]. - Sales and marketing expenses rose by $126,803, or 15%, to $996,992 for the nine months ended September 30, 2024, primarily due to higher personnel costs[65]. Cash and Working Capital - The company had cash and cash equivalents of $18.7 million and net working capital of $18.1 million as of September 30, 2024, with no outstanding debt[68]. - Cash inflows from financing activities for the nine months ended September 30, 2024 totaled $15,724,818 from public offering, $1,018,898 from warrant exercises, and $86,757 from stock option exercises, offset by $11,579 in tax payments related to restricted stock units[73]. Product Development and Launch - Ideal Power Inc. launched its first two commercial products, the SymCool® Power Module and SymCool® IQ Intelligent Power Module, in 2023, with shipments commencing in early 2024[45][47]. - The company expects product revenue to increase modestly in the fourth quarter of 2024 as customers advance in their evaluation and prototyping cycles[53]. - A global distribution agreement was announced with Richardson Electronics, Ltd. in March 2024, and with RYOSHO U.S.A., INC. in August 2024, to fulfill initial customer orders[49]. - The company is collaborating with Stellantis on a custom B-TRAN™ power module for use in electric vehicle drivetrain inverters, with Phase 2 of the program successfully completed in early 2024[48]. Accounting and Reporting - There have been no significant changes to critical accounting estimates during the nine months ended September 30, 2024, as disclosed in the Annual Report for the fiscal year ended December 31, 2023[74]. - No material changes from trends, events, or uncertainties have been reported since the Annual Report for the fiscal year ended December 31, 2023[75]. - As a smaller reporting company, there is no requirement to provide quantitative and qualitative disclosures about market risk[76].

Exhibit 99.1 Ideal Power Reports Third Quarter 2024 Financial Results AUSTIN, TX – November 14, 2024 -- Ideal Power Inc. (Nasdaq: IPWR) ("Ideal Power," the "Company," "we," "us" or "our"), pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch, reports results for its third quarter ended September 30, 2024. "Our Q3 accomplishments underscore the continued execution of our B-TRAN™ commercial roadmap with several significa ...

AUSTIN, Texas, Nov. 14, 2024 /PRNewswire/ -- Ideal Power Inc. (Nasdaq: IPWR) ("Ideal Power," the "Company," "we," "us" or "our"), pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch, reports results for its third quarter ended September 30, 2024."Our Q3 accomplishments underscore the continued execution of our B-TRAN™ commercial roadmap with several significant developments. We are collaborating with a third global au ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...