Ideal Power Inc (NASDAQ:IPWR) said on Thursday it received an order from a global Tier 1 automotive supplier for its B-TRAN semiconductor devices, marking a step forward in the company's push into the electric vehicle market.
The order includes B-TRAN devices, SymCool power modules, solid-state circuit breaker reference boards, and drivers.
The unnamed supplier — which serves several of the world’s top 10 automotive manufacturers — will evaluate the components for use in a new solid-state EV contactor design.
"This order is a significant milestone in the commercialization of our B-TRAN technology as it shows continued momentum with large, prospective customers for EV contactor applications,” said Ideal Power CEO Dan Brdar.
Ideal Power is now working with three global automakers, including Stellantis, and five global Tier 1 auto suppliers, Brdar noted.
The supplier also requested budgetary pricing for millions of SymCool power modules for potential future use, Ideal Power said.
Contactors are safety-critical components that disconnect EV subsystems from the battery during faults, crashes or maintenance. Traditional electromechanical versions are being replaced with faster, more reliable solid-state options.
Ideal Power’s B-TRAN-enabled solid-state contactors offer faster switching, reduced energy loss, and lower component count, thanks to their bidirectional operation.
“Our growing number of engagements with global automakers and their Tier 1 suppliers is indicative of the ongoing transition from legacy electromechanical contactors to solid-state circuit protection solutions and the benefits of B-TRAN compared to other semiconductor technologies for these applications,” Brdar added.
The company expects these advantages to drive solid-state contactors to overtake electromechanical ones in EV and hybrid markets within five years.
Investors welcomed the update, sending Ideal Power's shares almost 15% higher by midday Thursday.