Ideal Power Inc (NASDAQ:IPWR) announced that it has inked an agreement with RYOSHO USA Inc, a subsidiary of RYODEN, for global distribution of its products.
The company, which is focused on its patented Bidirectional, Bipolar Junction Transistor (B-TRAN) semiconductor technology, said RYOSHO has already placed orders from a large customer interested in its products for solid-state circuit protection applications.
Ideal Power’s B-TRAN is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over conventional power semiconductor.
"This is a significant development in the commercialization of our B-TRAN technology as we add a second distributor for our products,” Ideal Power CEO Dan Brdar said in a statement.
“RYOSHO has a strong technical sales team with expertise in securing sales for new technologies and global reach, with particular strength in Asia.
“We look forward to collaborating with RYOSHO to secure additional orders that may potentially lead to design wins and/or custom development agreements.”
The news was welcomed by investors, with shares of Ideal Power trading up 11.5% at US$7.89 late morning on Thursday.