On Thursday, Ideal Power Inc (NASDAQ:IPWR) announced that it has entered into an agreement with RYOSHO USA, Inc (“RYOSHO”), a subsidiary of RYODEN CORPfor the worldwide distribution of Ideal Power products.
RYOSHO has already placed orders with Ideal Power from a major global customer interested in the company’s products for semiconductor circuit protection applications.
“RYOSHO has a strong technical sales team with expertise in securing distribution of new technologies and global reach, with particular strength in Asia,” said Dan Brdar, CEO of Ideal Power.
Ideal Power uses an asset-light business model, leveraging the large investments already made in silicon processing, distribution, demand generation and support infrastructure.
Also read: EXCLUSIVE: Ideal Power collaborates with third automaker on advanced EV contactors
This business model allows the Company to continue to focus on breakthrough improvements and commercialization of B-TRAN technology while minimizing capital requirements.
Price promotion: IPWR shares closed 3.06% higher at $7.08 on Wednesday.
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This article EXCLUSIVE: Ideal Power Secures Worldwide Distribution Agreement with RYOSHO USA originally appeared on Benzinga.com
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