Ideal Power makes a novel solid-state switch (B-TRAN) that handles power in both directions, like a two-way valve for electricity in EVs, grid gear, and renewables.
No revenue yet; the company burns cash, with net losses of USD 0.01B in each of the last three fiscal years, funded by investors rather than operations.
Its patented B-TRAN design could beat conventional IGBTs from Infineon and Mitsubishi, but with no product shipped, the moat is unproven and competitors can easily outspend it.
Key events, in time order
Multiple sources confirm B-TRAN progress in SSCBs and Stellantis auto-grade stamp
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