{"id":493382,"date":"2021-05-13T16:11:59","date_gmt":"2021-05-13T20:11:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ideal-power-reports-first-quarter-2021-financial-results\/"},"modified":"2021-05-13T16:11:59","modified_gmt":"2021-05-13T20:11:59","slug":"ideal-power-reports-first-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ideal-power-reports-first-quarter-2021-financial-results\/","title":{"rendered":"Ideal Power Reports First Quarter 2021 Financial Results"},"content":{"rendered":"
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AUSTIN, Texas, May 13, 2021 (GLOBE NEWSWIRE) — Ideal Power Inc.<\/a>\u00a0(\u201cIdeal Power\u201d or the \u201cCompany\u201d) (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN\u2122 bi-directional power switches, reported results for its first quarter ended March 31, 2021.<\/p>\n

\u201cWe continue to make progress toward our B-TRAN\u2122 commercialization objectives,\u201d stated Dan Brdar, President and Chief Executive Officer of Ideal Power. \u201cUnder our collaboration with Diversified Technologies, Inc. (DTI), we recently began the next wafer fabrication run with Teledyne, which, when completed later this quarter, represents the next major milestone under the United States Naval Sea Systems Command (NAVSEA) program. We have signed initial sampling agreements and are working with potential partners\u2019 technical and procurement teams on additional sampling agreements. We also submitted proposals for government funding with both new and prospective partners in our customer sampling program. Since the beginning of the year, we have strengthened our balance sheet, added highly qualified business development and engineering leaders to the team, developed new packaging and driver designs and completed a major milestone under the NAVSEA program.\u201d<\/p>\n

\n Key First Quarter and Recent Operational Highlights<\/strong>\n <\/p>\n