Richardson Electronics, Ltd. Announces Global Distribution Agreement with Ideal Power

LAFOX, Ill., March 18, 2024 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL) announced today a global distribution agreement with Ideal Power (NASDAQ: IPWR) for products including the discrete B-TRAN™ device and SymCool™ power module. Ideal Power is pioneering the development and commercialization of the highly efficient and broadly patented B-TRAN™ bidirectional semiconductor power switch.

“We are excited to announce Richardson Electronics as the first distributor for our products. They have strong technical sales capability, expertise in demand creation and securing sales for new technologies, robust customer support, and global reach. Our products are a perfect fit for Richardson Electronics’ existing customer base needing medium and high voltage power semiconductors,” said Dan Brdar, President and Chief Executive Officer of Ideal Power.

“We are very excited to work with Ideal Power to bring their products to market worldwide. For years, Richardson has developed an excellent portfolio of Technology Partners for power management components and engineered solutions,” said Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups. “Ideal Power’s products are an innovative and complementary addition to this portfolio, providing low loss and inherently bidirectional power semiconductors to customers globally for use in a wide variety of industrial applications.”

Ideal Power recently commenced shipment of its SymCool™ power modules to fulfill customer orders. The SymCool™ power module delivers clear advantages for several applications, including solid-state switchgear and circuit protection, renewable energy inverters for solar and wind, industrial inverters, hybrid and electric vehicles (“EVs”), and EV charging. Ideal Power looks forward to industrial markets, particularly the solid-state circuit breaker market served by our SymCool™ power module, to be the earliest source of our sales ramp beginning in the second half of 2024, as expected.

Ideal Power utilizes an asset-light business model leveraging the large investment already made in the silicon processing, distribution, demand creation and support infrastructure. This business model allows the Company to focus on further developing its disruptive B-TRAN™ technology while minimizing capital requirements.

About Richardson Electronics – Power & Microwave Technologies

For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world’s most innovative technology partners. Richardson Electronics’ Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at www.rellpower.com.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About Ideal Power Inc.

Ideal Power (NASDAQ: IPWR) is pioneering the development and commercialization of its broadly patented bidirectional semiconductor power switch, creating highly efficient and ecofriendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS/data center, solid-state circuit breaker and other industrial and military applications. The Company is focused on its patented Bidirectional, Bipolar Junction Transistor (B-TRAN™) semiconductor technology. B-TRAN™ is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over today’s conventional power semiconductors. Ideal Power’s B-TRAN™ can reduce conduction and switching losses, complexity of thermal management and operating cost in AC power switching and control circuitry. For more information, visit the Company’s website at www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook.

For Details Contact:
Chris Marshall
CTO/VP of Marketing
Phone: (630) 208-2222
chrism@rell.com

40W267 Keslinger Road
PO BOX 393
LaFox, IL 60147-0393 USA
(630) 208-2200 | Fax: (630) 208-2550