Ideal Power Inc (NASDAQ:IPWR, FRA:5ILA) is positioning its patented B-TRAN bidirectional semiconductor switch at the center of a major industry shift toward high-voltage DC power architectures, the company said Thursday.
The news came as the Austin, Texas-based company reported first quarter results that reflected accelerating commercial momentum.
During the quarter, Ideal Power initiated two additional projects with its lead Asia customer, signed a letter of intent with an industry partner to co-develop a B-TRAN-enabled prototype for evaluation by a US hyperscaler supporting NVIDIA's Rubin Ultra 800V DC AI data center power distribution architecture, and continued advancing deliverables for automaker Stellantis.
"The industry's transition toward next generation, high-voltage DC power architectures is real and in its early stages, creating what we believe will be a significant demand for advanced solid-state power solutions, and B-TRAN is uniquely positioned to address these emerging opportunities," said David Somo, Ideal Power’s CEO.
Ideal Power's lead Asia customer is developing a low current solid-state circuit breaker prototype for 800V AI data center and energy grid customers, with availability expected in the fourth quarter of 2026. Two newly initiated projects with the same customer target medium current solid-state circuit breakers for 800V AI data centers and energy storage, as well as low current breakers for smart industrial buildings.
The company also engaged two new Asia-based global power solution suppliers for the potential development of B-TRAN-enabled products targeting 800V DC AI data centers, energy storage systems, EV charging, and the energy grid, and held discussions with several multinational customers across data center, industrial, and renewable energy applications.
On the automotive front, Ideal Power delivered initial next-generation B-TRAN custom-packaged samples and development kits to Stellantis for EV applications, and said it remains on track to complete deliverables under its existing purchase order by mid-2026.
The company reported a net loss of $3.6 million for the quarter ended March 31, 2026, compared with a loss of $2.7 million in the same period a year earlier. Higher operating expenses of $3.7 million, up from $2.8 million, were driven primarily by increased stock-based compensation and personnel costs tied to executive leadership changes. Cash and cash equivalents stood at $16.4 million with no long-term debt outstanding, providing what the company described as a solid runway to execute its commercial strategy.
Ideal Power's B-TRAN patent estate now stands at 103 issued patents, including 50 outside the United States, covering North America, China, Taiwan, Japan, South Korea, India, and Europe.
The company said its near-term focus is on converting its growing sales funnel into design-ins, custom development agreements, and ultimately production orders, while continuing to explore strategic investment opportunities with global market leaders.
Shares of Ideal Power surged more than 25% on the update.