Richardson Electronics, Ltd. Announces Global Distribution Agreement with Ideal Power
March 18 2024 - 9:20AM
Richardson Electronics, Ltd. (NASDAQ: RELL) announced today a
global distribution agreement with Ideal Power (NASDAQ: IPWR) for
products including the discrete B-TRAN™ device and SymCool™ power
module. Ideal Power is pioneering the development and
commercialization of the highly efficient and broadly patented
B-TRAN™ bidirectional semiconductor power switch.
“We are excited to announce Richardson
Electronics as the first distributor for our products. They have
strong technical sales capability, expertise in demand creation and
securing sales for new technologies, robust customer support, and
global reach. Our products are a perfect fit for Richardson
Electronics’ existing customer base needing medium and high voltage
power semiconductors,” said Dan Brdar, President and Chief
Executive Officer of Ideal Power.
“We are very excited to work with Ideal Power to
bring their products to market worldwide. For years, Richardson has
developed an excellent portfolio of Technology Partners for power
management components and engineered solutions,” said Greg
Peloquin, Executive Vice President and General Manager of Power
& Microwave Technologies and Green Energy Solutions groups.
“Ideal Power’s products are an innovative and complementary
addition to this portfolio, providing low loss and inherently
bidirectional power semiconductors to customers globally for use in
a wide variety of industrial applications.”
Ideal Power recently commenced shipment of its
SymCool™ power modules to fulfill customer orders. The SymCool™
power module delivers clear advantages for several applications,
including solid-state switchgear and circuit protection, renewable
energy inverters for solar and wind, industrial inverters, hybrid
and electric vehicles (“EVs”), and EV charging. Ideal Power looks
forward to industrial markets, particularly the solid-state circuit
breaker market served by our SymCool™ power module, to be the
earliest source of our sales ramp beginning in the second half of
2024, as expected.
Ideal Power utilizes an asset-light business
model leveraging the large investment already made in the silicon
processing, distribution, demand creation and support
infrastructure. This business model allows the Company to focus on
further developing its disruptive B-TRAN™ technology while
minimizing capital requirements.
About Richardson Electronics – Power
& Microwave Technologies
For over 75 years, Richardson Electronics has
been your industry-leading global provider of engineered solutions,
RF & microwave, and power products. The Power & Microwave
Technologies group continues this legacy and complements it with
new products from the world’s most innovative technology partners.
Richardson Electronics’ Power & Microwave Technologies group
focuses on what we do best: identify and design disruptive
technologies, introduce new products on a global basis, develop
solutions for our customers, and provide exceptional worldwide
support. As a global company, we provide solutions and add value
through design-in support, systems integration, prototype design
and manufacturing, testing, logistics, and aftermarket technical
service and repair—all through our existing global infrastructure.
More information is available at www.rellpower.com.
About Richardson Electronics,
Ltd.
Richardson Electronics, Ltd. is a leading global
manufacturer of engineered solutions, power grid and microwave
tubes, and related consumables; power conversion and RF and
microwave components, including green energy solutions; high-value
replacement parts, tubes, and service training for diagnostic
imaging equipment; and customized display solutions. More than 60%
of our products are manufactured in LaFox, Illinois, Marlborough,
Massachusetts, or Donaueschingen, Germany, or by one of our
manufacturing partners throughout the world. All our partners
manufacture to our strict specifications and per our supplier code
of conduct. We serve customers in the alternative energy,
healthcare, aviation, broadcast, communications, industrial,
marine, medical, military, scientific, and semiconductor markets.
The Company’s strategy is to provide specialized technical
expertise and “engineered solutions” based on our core engineering
and manufacturing capabilities. The Company provides solutions and
adds value through design-in support, systems integration,
prototype design and manufacturing, testing, logistics, and
aftermarket technical service and repair through its global
infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on
the NASDAQ Global Select Market under the ticker symbol RELL.
About Ideal Power Inc.
Ideal Power (NASDAQ: IPWR) is pioneering the
development and commercialization of its broadly patented
bidirectional semiconductor power switch, creating highly efficient
and ecofriendly energy control solutions for electric vehicle,
electric vehicle charging, renewable energy, energy storage,
UPS/data center, solid-state circuit breaker and other industrial
and military applications. The Company is focused on its patented
Bidirectional, Bipolar Junction Transistor (B-TRAN™) semiconductor
technology. B-TRAN™ is a unique double-sided bidirectional AC
switch that delivers substantial performance improvements over
today’s conventional power semiconductors. Ideal Power’s B-TRAN™
can reduce conduction and switching losses, complexity of thermal
management and operating cost in AC power switching and control
circuitry. For more information, visit the Company’s website at
www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook.
For Details Contact:Chris MarshallCTO/VP of
MarketingPhone: (630) 208-2222chrism@rell.com
40W267 Keslinger RoadPO BOX 393LaFox, IL 60147-0393 USA(630)
208-2200 | Fax: (630) 208-2550
Ideal Power (NASDAQ:IPWR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ideal Power (NASDAQ:IPWR)
Historical Stock Chart
From Oct 2023 to Oct 2024