Ideal Power Inc (NASDAQ:IPWR) on Tuesday announced a partnership with Kaimei Electronic Corp, a manufacturer of electrolytic capacitors, resistors, and motor fans.
Under the deal, Kaimei Electronic will distribute Ideal Power’s products throughout Asia.
Kaimei Electronic and Ideal Power are partnering to promote Ideal Power’s B-TRAN technology alongside Kaimei’s product portfolio to its existing and prospective customer base.
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B-TRAN will be the first product line for which Kaimei will operate as a third-party distributor.
For decades, Kaimei has manufactured high-value-added electronic components, selling them in 60 countries in Asia, Europe, and the Americas.
The company said that Kaimei and Ideal Power share many target markets, including industrial, automotive, renewable energy, energy storage, UPS, and EV charging.
The partnership will leverage Kaimei’s existing sales expertise and customer network as the same customers for Kaimei’s products are also potential customers for B-TRAN.
Dan Brdar, CEO of Ideal Power, said Asia is the world’s largest market for power electronics, and Asian companies typically adopt new technologies faster than their European and U.S. counterparts. He expects the collaboration to help secure orders, drive revenue growth, and potentially lead to additional B-TRAN design wins.
Price Action: IPWR stock closed lower by 0.42% at $4.79 on Monday.
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This article EXCLUSIVE: Ideal Power Taps Kaimei Electronic To Distribute Products Across Asia originally appeared on Benzinga.com
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