Ideal Power Inc (NASDAQ:IPWR) has announced a new distribution partnership with Kaimei Electronic, a leading manufacturer of electrolytic capacitors, resistors, and motor fans.
Under the terms of the agreement, Kaimei will distribute Ideal Power’s products across Asia.
The partnership will introduce Ideal Power’s B-TRAN bidirectional semiconductor power switch to Kaimei’s existing and prospective customers.
This marks the first time Kaimei will serve as a third-party distributor for an external product line.
Kaimei currently operates in more than 60 countries across Asia, Europe, and the Americas, with customers in industrial, automotive, renewable energy, energy storage, UPS, and EV charging markets, segments that align with Ideal Power’s focus.
Further, the agreement supports Ideal Power’s asset-light business model that leverages existing infrastructure in manufacturing, packaging and distributuion, the company highlighted.
Dan Brdar, Ideal Power CEO, expressed excitement about the partnership.
“Asia is the world's largest market for power electronics, and Asian companies typically move faster than their European and US counterparts in adopting new technologies,” Brdar said.
“We look forward to collaborating with Kaimei to secure orders to drive revenue growth and potentially lead to additional B-TRAN design wins.”
Ideal Power said it plans to continue concentrating on the development and commercialization of B-TRAN technology while using partnerships to expand market access.