David Somo Named President and CEO of Ideal Power
New Leadership Appointment: Ideal Power Inc. has appointed David Somo as President and CEO, effective November 3, 2025, succeeding Dan Brdar, who retired on November 2, 2025.
Somo's Background: David Somo brings over 30 years of experience in the semiconductor industry, with a strong focus on global sales, marketing, and business development, and has held leadership roles in several prominent companies.
Company's Technology Focus: Ideal Power is commercializing its patented B-TRAN® bidirectional semiconductor technology, which aims to improve efficiency in various applications, including electric vehicles and renewable energy.
Inducement Awards: As part of his appointment, Somo received inducement awards including restricted stock units and performance restricted stock units, aimed at incentivizing his leadership and performance at Ideal Power.
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Ideal Power Announces Financial Results for Q3 2025
Company Overview: Ideal Power Inc. is a developer of the B-TRAN® bidirectional semiconductor power switch, focusing on efficient energy control solutions for various applications, including electric vehicles and renewable energy.
Recent Developments: The company secured a purchase order from Stellantis for custom B-TRAN® devices for electric vehicles and completed the first of five deliverables under this order, while also engaging with a sixth global automaker for potential applications.
Financial Performance: In Q3 2025, Ideal Power reported a net loss of $2.9 million, with cash and cash equivalents totaling $8.4 million, reflecting an increase in operating expenses primarily due to research and development.
Patent Portfolio: Ideal Power holds 97 issued B-TRAN® patents, with 73 pending, covering multiple regions including North America, Europe, and Asia, indicating a strong intellectual property position in the semiconductor market.
Ideal Power to Hold Conference Call for Third Quarter 2025 Results on November 13, 2025, at 10:00 AM ET
Conference Call Announcement: Ideal Power Inc. will hold a conference call on November 13, 2025, at 10:00 AM ET to discuss its third-quarter results for 2025, with a press release to be issued beforehand.
Access Information: Participants can join the call by dialing specific numbers for U.S./Canada or international callers, and an audio replay will be available after the call until November 27, 2025.
Company Overview: Ideal Power specializes in the development of the B-TRAN® bidirectional semiconductor power switch, which offers efficient energy control solutions for various applications, including electric vehicles and renewable energy.
Investor Relations: Interested parties can find more information on Ideal Power's Investor Relations website, where the live webcast and Q&A will also be accessible.