EXCLUSIVE: Ideal Power Secures Global Distribution Deal with RYOSHO USA
On Thursday, Ideal Power Inc (NASDAQ:IPWR) announced it has entered into an agreement with RYOSHO USA, Inc ("RYOSHO"), a subsidiary of RYODEN CORP, for the global distribution of Ideal Power's products.
RYOSHO has already placed orders with Ideal Power from a large global customer interested in the Company's products for solid-state circuit protection applications.
"RYOSHO has a strong technical sales team with expertise in securing sales for new technologies and global reach, with particular strength in Asia," Ideal Power CEO Dan Brdar said.
Ideal Power utilizes an asset-light business model, leveraging the large investments already made in silicon processing, distribution, demand creation, and support infrastructure.
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This business model allows the Company to continue focusing on disruptive B-TRAN technology improvements and commercialization while minimizing capital requirements.
Price Action: IPWR stock closed higher by 3.06% at $7.08 Wednesday.
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