Ideal Power Inc. (NASDAQ:IPWR) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET

Company Participants

Jeff Christensen - IR

Daniel Brdar - President & CEO

Timothy Burns - CFO

Conference Call Participants

Operator

Good afternoon, ladies and gentlemen, and welcome to the Ideal Power First Quarter 2023 Results Call. At this time, all participants are in listen-only mode. At the end of management remarks, there will be a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to Jeff Christensen. Please go ahead.

Jeff Christensen

Thank you, operator, and good afternoon, everyone. Thank you for joining Ideal Power's first quarter 2023 conference call. With me on the call are Dan Brdar, President and Chief Executive Officer; Tim Burns, Chief Financial Officer. Ideal Power's first quarter 2023 financial results press release is available on the company's website at idealpower.com.

Before we begin, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results and industry prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially as those described in the call. Please refer to the company's SEC filings for the list of associated risk, and we would also refer you to the company's website for more supporting industry information.

Now, I'll turn the call over to Ideal Power's President and CEO, Dan Brdar. Dan?

Daniel Brdar

Thank you, Jeff. Good afternoon, everyone, and welcome to our first quarter 2023 financial results conference call. I'll update you on our progress since the start of the first quarter and priorities for 2023 to commercialize our B-TRAN semiconductor technology. And then Tim Burns, our CFO, will take you through the numbers, after which we'll take your questions.

This is an exciting year for us. We are really getting engaged with customers as we look to commercialize our technology. Our 2023 milestones are in our press release today and in the online webcast portal for this conference call. For those not familiar with them, our objectives for this year are: first, to launch our first commercial product, the SIM cool power module, which is a multi-die B-TRAN module.

Next, complete Phase 1 of the multi-year development program with a top 10 global automaker in the second quarter of this year. Complete first engineering run with a production fab in the second quarter of this year, deliver package B-TRAN to DTI under the NAVSEA program in the first half of this year, introduce our second commercial product, an intelligent power module in Q3 and delivered B-TRAN samples for test and evaluation for our potential customers in the second half of the year.