Ideal Power reports Q4 net loss $1.4M, cash $23.2M; adds test program participants

Ideal Power Inc.

Net loss Q4 2021 $1.4M vs $1.1M in Q4 2020; full year 2021 net loss $4.8M vs $7.8M in 2020.
Cash and equivalents $23.2M at Dec 31, 2021; no long-term debt.
Added participants to B-TRAN test program: a leading commercial EV manufacturer and a Forbes 2021 Global 500 power management firm.
Delivered Phase I commitments under DOE SBIR grant for 13.8 kV AC SSCB; plans Phase II grant application with DTI.
Appointed two new independent directors with semiconductor and target market experience.

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