Ideal Power Inc (NASDAQ:IPWR) announced it has received orders from a global Tier 1 automotive supplier that supplies sensors and electrical protection components to major automotive OEMs and is advancing solutions for vehicle electrification.
The NYSE-listed customer has ordered multiple discrete B-TRAN devices, a SymCool power module, a solid-state circuit breaker evaluation board, and a driver, Ideal Power said in a statement.
Ideal Power is actively engaging with the customer to explore the potential of B-TRAN for solid-state EV contactor applications, essential in isolating high-voltage systems in electric vehicles.
"We are pleased to see another global Tier 1 automotive supplier securing B-TRAN products as part of their desire to bring lower cost, more efficient semiconductor solutions to their numerous automotive OEM customers,” said Dan Brdar, CEO of Ideal Power.
“We are also working to advance other Tier 1 auto suppliers in our sales pipeline to orders and then to custom development agreements and/or design wins."
As Ideal Power’s B-TRAN semiconductor technology continues to attract interest, Brdar noted that the company’s success with global automaker Stellantis has spurred attention from other automotive OEMs and Tier 1 suppliers that supply systems to these automakers.
Contactors in EVs play a critical role in isolating the battery, inverter, and onboard charger to ensure safety during vehicle shutdown or service, with solid-state contactors poised to replace traditional electromechanical versions due to enhanced safety, reliability, and cost-effectiveness.
The EV contactor market is projected to reach over $3.7 billion in 2025, with solid-state options potentially capturing a significant share as they replace mechanical versions in the future.