Ideal Power is a pre-revenue, fabless semiconductor company built around a single proprietary technology: the Bidirectional Bipolar Junction Transistor, or B-TRAN, a solid-state power switch designed to replace conventional power switches like IGBTs and silicon carbide MOSFETs in power conversion and circuit protection applications. B-TRAN's core advantages are ultra-low conduction losses — reducing power losses by 50% or more versus silicon IGBTs — and inherent bidirectionality, where a single B-TRAN replaces four components (two IGBTs and two diodes) required by conventional bidirectional switch configurations. Built on standard silicon rather than exotic materials, B-TRAN is priced at roughly a 10-20% premium to a single IGBT but is cheaper on a system basis. Ideal Power's two products are a discrete B-TRAN device and the SymCool Power Module, a multi-die module targeted at large industrial and automotive customers. Near-term commercial focus is on solid-state circuit breakers, where B-TRAN's low losses make it an enabling technology — the company has its first design win with a large Asian circuit protection equipment manufacturer targeting data centers and industrial facilities. In automotive, Ideal Power is engaged with five global automakers including Stellantis, which has an active purchase order for custom B-TRAN development. Ideal Power operates an asset-light model, outsourcing fabrication to foundries in Europe and Asia, and expects revenue from product sales, custom development agreements, and potential licensing to large incumbent semiconductor manufacturers. The company holds 52 U.S. and 47 foreign issued patents and treats its manufacturing process as a trade secret.