New Ideal Power Inc (NASDAQ:IPWR) CEO David Somo is already steering the technology company toward its next chapter of growth. Fresh off a new purchase order from automotive giant Stellantis, the company is ramping up momentum as it heads into 2026. In this Q&A, Somo and CFO Tim Burns discuss how Ideal Power’s B-TRAN technology is poised to make an impact across automotive, industrial, and AI-driven data center markets, and share their strategy for accelerating commercialization while leveraging the company ...

Accessible version InnoScience Technology Global GaN power semi leader, well- positioned for rapid growth; initiate at Buy Initiating Coverage: BUY | PO: 108.00 HKD | Price: 74.40 HKD Initiate at Buy, PO of HK$108 (45% upside potential) We initiate coverage on InnoScience at Buy with a PO of HK$108. InnoScience is a Gallium Nitride (GaN) power semiconductor leader with largest market share of 30% (by revenue) globally in 2024. We are positive on its long-term growth outlook, given (1) rapid growth of global ...

Core Points - Mitsubishi Electric Corporation has entered into a basic agreement with the Industrial Technology Research Institute (ITRI) in Taiwan to develop high-voltage, high-current power conversion systems (PCSs) for renewable energy generation [1][2] - The collaboration aims to combine Mitsubishi Electric's advanced power semiconductor modules with ITRI's technology to create a megawatt-class PCS prototype for demonstration testing [2] Group 1 - The initiative focuses on expanding the use of high-capacity conversion systems to support the global green transformation [1][2] - Mitsubishi Electric and Mitsubishi Electric Taiwan plan to provide design information and demonstration test results to enhance their power semiconductor module business for PCSs [2] - ITRI will assist Taiwanese PCS manufacturers by providing design documents and test results to support product development in related fields [2]

Financial Data and Key Metrics Changes - The cash burn from operating and investing activities for Q2 2025 was $2.5 million, an increase from $2.2 million in Q2 2024 and $2.1 million in Q1 2024 [28] - Total cash, cash equivalents as of June 30, 2025, was $11.1 million, with no debt and a clean capital structure [30] - The net loss for Q2 2025 was $3 million compared to $2.7 million in Q2 2024 [32] Business Line Data and Key Metrics Changes - The company shipped updated solid state circuit breaker prototypes to its first design win customer, which is expected to generate several hundred thousand dollars in revenue in its first year and potentially millions in the second year [11][26] - Collaborations with five automakers, including four of the top 10 global automakers, have been established, indicating a growing interest in B TRAN technology for EV applications [7][9] Market Data and Key Metrics Changes - The company is seeing increased interest in B TRAN technology for circuit protection applications, particularly in Asia, which is the world's largest market for power electronics [7][12] - The automotive market is expected to contribute significantly to revenue growth, with a focus on solid state circuit breakers and EV contactors [27][79] Company Strategy and Development Direction - The company aims to broaden its collaboration with Stellantis and other automotive suppliers, focusing on commonality across their EV platforms [16][41] - Plans to increase the power rating of products later this year, which will enhance competitiveness in the market [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving milestones for 2025, including the start of revenue ramp and completion of third-party automotive qualification [27] - The company is well-positioned to mitigate impacts from tariffs and trade policies due to its asset-light business model and dual sourcing strategy [20] Other Important Information - The company has 96 issued V TRAN patents, with 74 pending, indicating a strong focus on innovation and intellectual property protection [25] - The company is actively engaged in educating the engineering community about its technology to facilitate adoption [58] Q&A Session Summary Question: How do we think about the opportunity with Stellantis? - The company expects to be involved with multiple brands under Stellantis' EV platform, aiming for commonality across their brands [36][38] Question: What is the estimated power semiconductor content in EVs? - The estimated total power semiconductor content in an EV is about $1,100, with the EV contactor contributing approximately $300 [43] Question: How many design win opportunities are there? - The company sees a growing funnel of design win opportunities, particularly in the industrial sector, with many companies interested in solid state circuit breakers [45][48] Question: What are the challenges to closing sales? - The primary challenge is the education process for engineers regarding the new technology, as opposed to technical challenges [58] Question: What is Ideal Power doing to drive sales ramp? - The company is utilizing internal sales teams, distributor relationships, and increasing awareness through trade shows and publications [60][62] Question: When will Ideal Power reach cash flow breakeven? - A few key design wins could lead to cash flow breakeven, with significant revenue potential from solid state circuit breakers and EV applications [67] Question: What is the cost comparison between B TRAN and IGBT? - B TRAN is expected to be about 10-20% more expensive than a single IGBT, but offers significant cost savings in bidirectional applications due to fewer components needed [84]