Ideal Power Inc (NASDAQ:IPWR) announced that it is collaborating with a third global automaker to advance its patented Bidirectional, Bipolar Junction Transistor (B-TRAN) semiconductor technology.
The company said the automaker is working closely with its engineers on the use of B-TRAN-enabled contactors to potentially replace electromechanical contactors in its electric vehicles (EVs).
"We are delighted to announce this collaboration with a third global automaker for the evaluation of B-TRAN in a new EV application for us. Their initial focus is on EV contactors,” Ideal Power CEO Dan Brdar said in a statement.
Contactors serve as a cutoff switch for high voltage applications in EV, playing a critical role in isolating the battery, inverter and onboard charger for safety reasons when a vehicle is turned off or being serviced.
Solid state contactors have a range of benefits over electromechanical contactors, including that they are faster acting, which eliminates arcing and improves safety, and are more reliable as they do not have physical contacts which are subject to wear, Ideal Power highlighted.
The company believes that over time, solid-state contactors will possibly displace electromechanical contactors in more than half of the market, which is forecast to grow to more than $3.7 billion by 2025.
“Solid-state contactors in EVs are an emerging market and our technology is potentially enabling for this application due to its very low conduction losses and inherent bidirectionality,” Brdar said.
“This represents another engagement for us with the world's leading automakers along with our previously announced engagements with Stellantis and a second Top 10 global automaker.”
The collaboration was welcomed by Ideal Power investors, who sent shares of the company more than 12% higher to US$7.70 in early trade on Wednesday.