AUSTIN, TX--(Marketwired - Dec 14, 2016) - Ideal Power Inc., (NASDAQ: IPWR), a developer of innovative power conversion technologies, announced today that NEXTracker (a Flex company) will be selling its SunDial™ solar PV plus storage string inverter as part of their newly launched solar plus storage tracker. NEXTracker's "NX Fusion Plus" will integrate the SunDial™ together with NEXTracker's best-in-class solar tracker, a battery pack, and software to deliver maximum return on investment to solar power plants. The solution will be packaged and sold by NEXTracker to its global customer base to increase the amount of solar production for its customers. Lux Research forecasts that the solar plus storage market will reach $8 billion by 2026.
"We are honored to have been approached by NEXTracker to supply our new SunDial™ Plus multi-port solar plus storage inverter. The SunDial™ Plus will give them a strong competitive advantage as no other company in the tracker space is offering a complete solution with integrated inverter and energy storage today," said Dan Brdar, CEO of Ideal Power. "We also believe this agreement with NEXTracker will solidify SunDial's™ presence in the solar plus storage market that continues to show sizeable potential for growth."
NEXTracker was acquired last year by global electronic manufacturing giant Flex (formerly known as Flextronics) and is the #1 solar tracker supplier worldwide with over 5GW of shipments. The company is widely recognized for its innovative independent row tracking systems and its global leadership position in the solar industry. NEXTracker's systems are being deployed in PV installations at a rate of 100 MW per week across five continents.
"We chose Ideal Power because they are a market leader with a track record in the inverter space," stated Alex Au, NEXTracker CTO. "Together, we have developed an optimized inverter solution specifically for NX Fusion Plus for long duration storage plus solar." Hear Alex Au describe the benefits of solar integrated storage in this video.
The SunDial™, based on Ideal Power's patented Power Packet Switching Architecture™ (PPSA™), is a grid-tied commercial 30kW PV string inverter that has an integrated six-string PV combiner and DC disconnect with 480V, 3-phase output. Its innovative "AC link" design provides true galvanic isolation from the AC to the DC ports, enabling PV installations to be grounded which eliminates Potential Induced Degradation (PID) on the PV array. The SunDial™ is the smallest and lightest fully isolated 3-phase PV inverter on the market. It can be equipped to add energy storage either at initial installation or in the future with its available field upgrade kit.
NEXTracker, a Flex company, advances the power plant of the future with solar tracker innovations that increase performance and reduce costs for all size power plants. As the #1 market share tracker supplier worldwide with over 5 GW of tracker shipments, NEXTracker is globally recognized for delivering the most advanced photovoltaic solutions for hundreds of projects across five continents. Headquartered in the San Francisco Bay Area, the Company has offices in China, India, Latin America, and Australia. For more information, visit: NEXTracker.com and follow the Company on Twitter @NEXTracker.
About Ideal Power Inc.
Ideal Power Inc. (NASDAQ: IPWR) is a technology company dedicated to advancing the efficiency of electric power conversion. The company has developed a novel, patented power conversion technology called Power Packet Switching Architecture™ ("PPSA™"). PPSA™ improves the size, cost, efficiency, flexibility and reliability of electronic power converters. PPSA can scale across several large and growing markets, including solar PV, variable frequency drives, battery energy storage, mobile power and microgrids, and electric vehicle charging. The Company is also developing and has patented a bi-directional, bi-polar junction transistor ("B-TRAN™") which has the potential to dramatically increase bi-directional power switching efficiency and power density. Ideal Power employs a capital-efficient business model which enables the company to address several product development projects and markets simultaneously. For more information, visit www.IdealPower.com.
Safe Harbor Statement
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents, whether a demand for energy storage products will grow, whether demand for our products, which we believe are disruptive, will develop and whether we can compete successfully with other manufacturers and suppliers of energy conversion products, both now and in the future, as new products are developed and marketed. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements.