Ideal Power Announces Distribution Agreement with Kaimei Electronic

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Ideal Power Inc., developer and innovative provider of the highly efficient and broadly patented B-TRAN® bidirectional semiconductor power switch, announced a partnership with Kaimei Electronic Corp., a leading manufacturer of electrolytic capacitors, resistors and motor fans. Under this agreement, Kaimei Electronic Corp. will distribute Ideal Power's products throughout Asia.

Kaimei Electronic Corp. and Ideal Power are partnering to promote Ideal Power's innovative B-TRAN® technology to Kaimei's existing and prospective customer base alongside their own product portfolio. B-TRAN® will be the first product line for which Kaimei will operate as a third-party distributor. Kaimei has had decades of success as a manufacturer of high value-added electronic components selling into 60 countries in Asia, Europe, and the Americas. Kaimei and Ideal Power share many target markets including industrial, automotive, renewable energy, energy storage, UPS and EV charging. The partnership will leverage Kaimei's existing sales expertise and customer network as the same customers for Kaimei's products are also potential customers for B-TRAN®.

"We are excited to enter into this distribution partnership with Kaimei. They already serve customers in B-TRAN® target industrial, utility and automotive markets in Asia. Asia is the world's largest market for power electronics, and Asian companies typically move faster than their European and U.S. counterparts in adopting new technologies. We look forward to collaborating with Kaimei to secure orders to drive revenue growth and potentially lead to additional B-TRAN® design wins," said Dan Brdar, President and Chief Executive Officer of Ideal Power.

The distribution agreement with Kaimei aligns with Ideal Power's asset-light business model. Ideal Power leverages the large investment already made in silicon processing, packaging, distribution, demand creation and support infrastructure. This business model allows the Company to continue focusing on disruptive B-TRAN® technology improvements and commercialization while driving working capital efficiency.