Ideal Power Inc (NASDAQ:IPWR) has announced the appointment of David Somo as its CEO and president.
Somo, who is also joining the company’s board of directors, brings over 30 years of experience in the semiconductor industry, with leadership roles spanning industrial, automotive, data center, consumer, computing, and communications markets.
He most recently served as CEO and president of Preciseley Microtechnology Corporation.
"We are delighted that David is joining us as president and CEO at a time when we are commercializing our innovative, low-loss bidirectional power semiconductor technology,” Ideal Power board chairman Michael Turmelle said.
“He brings a deep understanding of global sales and marketing, business development, corporate strategy and new product development along with decades of experience and a proven track record in the semiconductor industry.”
Somo expressed excitement about joining the company at what he described as “an inflection point.”
“There is a multi-billion dollar addressable market for our B-TRAN technology, and it brings several compelling advantages to the marketplace,” Somo said.
“I plan on leveraging my extensive commercial experience to accelerate growth in our target markets, including those for industrial, data center and automotive applications.”
Somo succeeds Dan Brdar, who has retired from his roles as CEO, president and board member.
"I am proud of what we have accomplished at Ideal Power to develop a unique low-loss bidirectional semiconductor architecture, establish a production-ready double-sided wafer process, launch our initial commercial products and drive customer engagement with multiple Forbes Global 500 companies, global automakers and Tier 1 automotive suppliers,” Brdar said.
"David's strong commercial background in the semiconductor industry will play a key role in driving Ideal Power's continued growth and success."
Ideal Power, which develops the B-TRAN bidirectional semiconductor power switch, also said that it plans to hold a conference call on November 13 to discuss its third quarter 2025 results.