Ideal Power Inc. (NASDAQ:IPWR) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET

Company Participants

Carolyn Capaccio - LHA Investor Relations SVP

Dan Brdar - CEO President and Director

Tim Burns - CFO, Secretary and Treasurer

Conference Call Participants

David Williams - Benchmark

Orin Hirschman - AIGH Investment Partners

Don Slowinski - Winslow Asset Group

Taylor Fredericks - Arrowhead

Peter Sidoti - Sidoti & Company

Robert Ainbinder - GoldStreet

Operator

Welcome to the Ideal Power Second Quarter 2022 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there is an opportunity to ask questions. [Operator Instruction] Please note, this event is being recorded.

I would now like to turn the conference over to Carolyn Capaccio, Senior Vice President, LHA Investor Relations. Please go ahead.

Carolyn Capaccio

Thank you, operator, and good afternoon, everyone. Thank you for joining Ideal Power's Second Quarter 2022 Conference Call. We've been on the call are Dan Brdar, President and Chief Executive Officer; and Tim Burns, Chief Financial Officer. Ideal Power's second 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 second quarter 2022 financial results conference call. I'll begin by giving you an update on our progress on our strategy to commercialize our B-TRAN semiconductor technology and review our plans and key priorities for the remainder of the year towards B-TRAN commercialization. And Tim Burns, our CFO, will take you through the numbers, after which we'll take your questions. Let's get started. .

During the second quarter, we made strong progress in our B-TRAN commercialization activities. Despite the macro environment, including supply chain disruptions, the COVID pandemic, high inflation and rising interest rates affecting all businesses, we remain on track to introduce our first commercial product by the end of the year. In fact, B-TRAN is receiving increased attention in inbound inquiries from an array of commercial, research and government entities as a disruptive, highly efficient, bidirectional semiconductor technology that solves immediate needs in our targeted electric vehicle, electric vehicle charging, renewable energy, energy storage and interruptible power supplies for data centers and solid-state circuit breaker end markets. Our momentum continues, and we're excited to bring you this update.