Call Start: 16:30 January 1, 0000 5:10 PM ET

Ideal Power Inc. (NASDAQ:IPWR)

Q4 2022 Earnings Conference Call

March 2, 2023 16:30 ET

Company Participants

Jeff Christensen - Investor Relations

Dan Brdar - President & Chief Executive Officer

Tim Burns - Chief Financial Officer

Conference Call Participants

David Williams - The Benchmark Company

Operator

Good day ladies and gentlemen and welcome to the Ideal Power Fourth Quarter and Full Year 2022 Results Call. At this time, all participants are in listen-only mode. At the end of management’s remarks, there will be a question-and-answer session. [Operator Instructions] As a reminder, this event is being recorded.

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

Jeff Christensen

Thank you, Sarah and good afternoon, everyone. Thank you for joining Ideal Power's fourth quarter and full year 2022 conference call. With me on the call today are Dan Brdar, President and Chief Executive Officer; and Tim Burns, Chief Financial Officer. Ideal Power's fourth quarter and full year 2022 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 from those described in the call. Please refer to the company's SEC filings for a list of associated risks 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?

Dan Brdar

Thank you, Jeff. Good afternoon, everyone and welcome to our fourth quarter and full year 2022 financial results conference call. I'll first give you an update on our progress since the start of the fourth 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. So let's begin. We're excited to have announced the introduction of our first commercial product, The SymCool power module. The SymCool is a multi-die B-TRAN module targeted primarily for the solid-state circuit breaker market. Since the announcement of our DoD funded project with the U.S. Navy and NAVC for a B-TRAN-enabled solid-state circuit breaker, we've had an increasing number of companies looking to learn more about our technology. Offering the initial shipment of working devices to our partner on the project, DTI, we've been approached by multiple industrial companies looking to participate in our technology evaluation program, we are focused on bringing low-loss circuit breakers to the utility and industrial markets.