Ideal Power Launches SymCool Power Modules, Eyes Major OEM Partnerships for 2024
Portfolio Pulse from Anusuya Lahiri
Ideal Power Inc (NASDAQ:IPWR) has started commercial shipments of its SymCool Power Modules, targeting applications in switchgear, renewable energy, EVs, and more. The company anticipates forming major OEM partnerships and custom development agreements later this year, with sales expected to ramp up in the second half of 2024. CEO Dan Brdar highlighted the efficiency benefits of their B-TRAN technology and the company's progress on its commercialization roadmap.
February 20, 2024 | 2:20 pm
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Ideal Power Inc has begun commercial shipments of its SymCool Power Modules, with expectations of OEM partnerships and sales increase by 2024.
The commencement of commercial shipments of SymCool Power Modules marks a significant milestone for Ideal Power Inc, indicating progress in product development and market penetration. The anticipation of major OEM partnerships and the expected sales ramp in 2024 suggest potential revenue growth and increased market share. This news is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price, despite the recent 1.45% drop to $6.80.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100