Ideal Power Inc. (NASDAQ:IPWR) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET

Company Participants

Carolyn Capaccio - LHA

Dan Brdar - President & Chief Executive Officer

Tim Burns - Chief Financial Officer

Conference Call Participants

Operator

Good day and welcome to the Ideal Power Third Quarter 2022 Results Conference Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Carolyn Capaccio of LHA. Please go ahead.

Carolyn Capaccio

Thank you, operator and good afternoon everyone. Thank you for joining Ideal Power's third quarter 2022 conference call. With me on the call are Dan Brdar, President and Chief Executive Officer; and Tim Burns, Chief Financial Officer. Ideal Power's third quarter 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, Carolyn. Good afternoon everyone and welcome to our third quarter 2022 financial results conference call. I'll first touch on the development agreement that we announced earlier today, then I'll give you an update on our progress to commercialize our B-TRAN semiconductor technology, the introduction of our first commercial product, and review our other key priorities for the remainder of 2022; and Tim Burns, our CFO will take you through the numbers. After which, we'll take your questions.

So, let's begin. Earlier today, we made a very exciting announcement. We entered into a development agreement with a top 10 global automotive OEM. This is our second engagement with a top 10 global automaker as we've previously announced that a different top 10 global automaker is in our test and evaluation program.

We're partnering with this automaker's advanced technology development team to develop a custom B-TRAN power module for use in electric vehicle drivetrain inverters in the automaker's next-generation EV platform. Ideal Power would collaborate on the development of these multi-die custom modules with a packaging firm selected by the automaker for their innovative technology.