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Companies are accelerating their shift towards electrification with a comprehensive strategy aimed at industrial and automotive applications. Take Stellantis, for instance, the owner of iconic brands like Dodge, Fiat and Jeep. The company has ambitious milestones, including transitioning 100% of European sales and 50% of US sales to electric vehicles (EVs) by the end of the decade. By 2030, they plan to offer over 75 EV models and achieve global annual EV sales of five million units. Its efforts prioritize ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number 001-36216 IDEAL POWER INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 14-1999058 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 5508 Highway 290 West, Suite 120 Austin, Texas 78735 (Address of principal executive o ...

Exhibit 99.1 Key First Quarter and Recent Business Highlights Execution to our B-TRAN™ commercial roadmap continues, including: ● Commenced commercial shipment of SymCool™ power modules to fulfill customer orders. The SymCool™ power module targets several applications including solid-state switchgear and circuit protection, renewable energy inverters for solar and wind, industrial inverters, hybrid and electric vehicles ("EVs") and EV charging. ● Received an order for SymCool™ power modules and drivers from ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001‑36216 IDEAL POWER INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...

AUSTIN, TX – February 29, 2024 -- Ideal Power Inc. ("Ideal Power," the "Company," "we," "us" or "our") (Nasdaq: IPWR), pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch, reports results for its fourth quarter and full year ended December 31, 2023. "We made great progress delivering against our B-TRAN™ commercial roadmap in 2023 and that progress has continued into 2024," said Dan Brdar, President and Chief Executive ...

Table of Contents FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number 001-36216 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 IDEAL POWER INC. (Exact name of registrant as specified in its charte ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number 001-36216 IDEAL POWER INC. (Exact name of registrant as specified in its charter) (S ...

Financial Data and Key Metrics Changes - In Q2 2023, the company recorded development revenue of $98,000 and grant revenue of $37,000, with a net loss of $2.3 million compared to $1.7 million in Q2 2022 [54][68] - Cash burn in Q2 2023 was $1.8 million, unchanged from Q1 2023, with total cash and cash equivalents at $12.7 million as of June 30, 2023 [68] Business Line Data and Key Metrics Changes - The company successfully completed the full process flow engineering run for the B-TRAN device, proving manufacturability with high yield and excellent performance [4][42] - Hundreds of B-TRAN devices were delivered to diversify technologies under the NAVSEA solid-state circuit breaker program [9][46] - The SymCool Power Module was introduced as the first commercial product, targeting the solid-state circuit breaker market [5][55] Market Data and Key Metrics Changes - The global solid-state switching equipment market is projected to grow at a CAGR of 7.6% to approximately $9.3 billion by 2028 [6] - The semiconductor content in electric vehicles is expected to significantly impact production costs, with estimates of $2,000 to $3,000 per vehicle for power semiconductor devices [31][32] Company Strategy and Development Direction - The company aims to commercialize B-TRAN technology, focusing on markets such as electric vehicles, renewable energy, and energy storage [52][64] - A dual sourcing strategy for wafer fabrication is in place to mitigate supply chain risks, ensuring sufficient capacity for large customers [45][59] - The company plans to pursue licensing agreements with large semiconductor players as part of its long-term strategy [20][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the B-TRAN technology's potential to displace conventional power semiconductors in various applications [80] - The company anticipates higher R&D spending in the latter half of 2023, with some variability in operating expenses [67][68] - Management highlighted the importance of customer education regarding the new semiconductor architecture, noting positive feedback from early adopters [70][102] Other Important Information - The company has 75 issued B-TRAN patents, with ongoing efforts to expand its patent estate [53] - The first commercial sales of the SymCool product are expected to begin later in 2023, with revenue ramping up in 2024 [41][79] Q&A Session Summary Question: Importance of initial T&E customer shipments and early feedback - Management noted that early feedback has been positive, with customers finding the devices performing better than expected [70][86] Question: Performance improvements on production units - Management indicated that the production units have shown lower losses and better switching performance than initially rated, leading to increased current ratings [90][91] Question: Risks to achieving first commercial sales of SymCool - Management stated that they are on track with their milestones and have been diligent in addressing any surprises that arise [94] Question: Pursuit of the data center market - The company confirmed ongoing interest in the data center market, with potential co-development opportunities [104] Question: Adoption speed and breadth in targeted markets - Management highlighted the significant market potential for B-TRAN technology, particularly in the IGBT market, projected to reach $11 billion by 2026 [118][119]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number 001-36216 IDEAL POWER INC. (Exact name of registrant as specified in its charter) ( ...