Ideal Power Inc. (NASDAQ:IPWR) Lands Sharp Multi-Unit Orders, Wind Application
Dallas, Texas, 09/24/2014 (ustrademedia) – Ideal Power (NASDAQ:IPWR) in the second week of September announced that it has now received purchase orders from Sharp Electronics Corporation over and above the yearly purchase Agreement. Ideal Power currently hopes to have the battery converter orders delivered from September forwards till the end of 2014. The batteries will be used by Sharp of its ‘SmartStorage™ systems. These systems are now a popular California installation in commercial buildings to cater to demands of charge reduction. Ideal Power Inc. has been suggesting that as the market for such orders has increased in recent times, especially for energy storage products, there would be higher sales traction in this segment for Ideal Power.
Second Project: Distributed Wind Application
Ideal Power Inc. (NASDAQ:IPWR) on Tuesday, announced that it has now received purchase order for six of the 30Kw battery converters it makes. These will be used in twin wind turbines which are innovative and are 100kW installations. The company hopes to complete the installation of these units by early 2015.
Ideal Power Inc. (NASDAQ:IPWR)’s Dan Brdar, who is the Chief Executive Officer of Ideal Power commented that: “This is another indication that our highly efficient, low cost PPSA platform can support multiple vertical markets including photovoltaic, energy storage, electric vehicle charging infrastructure and distributed wind.”
Ideal Power market study indicates that there is an appreciable market for 100kW class of wind turbine solutions. These will use the MW Scale turbine and will be easy to install in them at agricultural sites for electrical load needs. The company hopes that by combing battery converter technology with wind turbine technology will allow the end user to achieve close to five or six year paybacks, located in US wind regions, with high productive parameters. Dan Brdar, in his message noted his company’s entry into wind applications.