Ideal Power Signed Master Purchase Agreement with Powin Corp.

Ideal Power Inc., (NASDAQ: IPWR), a developer of power conversion technologies, has signed a Master Purchase Agreement with Powin Corporation (Powin), a provider of commercial and industrial energy storage systems. Ideal Power will supply its 30kW and 125kW power conversion systems for Powin’s portfolio of commercial battery energy storage systems (BESS).
According to the press release:

Ideal Power’s power conversion systems are based on its patented, industry-leading Power Packet Switching Architecture™ (PPSA) which offers customers a proven, compact, high-efficiency solution that has gained broad acceptance in the industry. Powin has placed orders for Ideal Power’s products which are being shipped to customer sites in the U.S. and China for deployment in 2016.
“Powin is a long term customer of Ideal Power and we are pleased to partner with them as they scale their battery energy storage business in the U.S. and China,” commented Ryan O’Keefe, Senior Vice President of Business Development for Ideal Power.
“Based on our experience using Ideal Power products, they were a natural choice for us as we look to scale our system offerings,” said Virgil Beaston, Powin’s Chief Technology Officer. “Ideal Power’s industry-leading performance, cost and innovative products will allow us to have a competitive and differentiated product offering for our customers.”

Click here to read the full press release.