Ideal Power Inc (NASDAQ:IPWR) CEO Daniel Brdar takes Proactive's Stephen Gunnion through the company’s third-quarter performance and its ongoing momentum. Brdar highlighted that Ideal Power is now collaborating with three major global automakers, including Stellantis, with two of them ranked among the top ten globally.
The company has also expanded its global distribution network with partners like RYOSHO in Japan and Z Corp in China, opening significant market opportunities. Ideal Power has received orders from tier-one automotive suppliers and initiated rigorous automotive qualification testing for its B-TRAN technology. Brdar emphasized the significance of advancing towards design wins, enabling integration into next-generation products, with potential volume ramp-ups expected in 2025.
Ideal Power ended the quarter with a strong cash position of $18.7 million, providing stability and enabling seamless execution of its roadmap.