Ideal Power Inc. and KACO new energy have entered into an agreement that will allow KACO to resell Ideal Power's products under the KACO label. In addition, KACO will utilize Ideal Power's patented Power Packet Switching Architecture™ (PPSA) to develop its own differentiated products and integrated energy storage system solutions.
KACO new energy is the one of the world's largest manufacturers of solar inverters with more than 8 GW of installed systems. This agreement gives KACO access to Ideal Power's market-ready bi-directional power conversion systems for the battery energy storage and micro-grid markets. KACO intends to initially sell the systems in North and Central America, targeting both standalone energy storage, as well as solar plus storage system applications. The agreement also enables KACO to design and launch their own products using Ideal Power's technology.
"This alliance represents an important expansion of our business, starting with a global power conversion partner, to increase our market presence," commented Dan Brdar, CEO of Ideal Power. "The inevitable convergence of solar and storage is drawing leading companies in the solar market to develop storage based solutions. We believe that partnering with a solar market leader such as KACO gives us access to a large, established customer base and provides established solar providers a high performing energy storage solution. This agreement is an important milestone in the evolution of our company and we expect it will significantly expand our footprint."
"Ideal Power's technology is a truly outstanding solution for storage based applications. This partnership allows KACO and Ideal Power to take a strong leadership position and offer full solutions in a nascent market where others present mere prototypes," said Jurgen Krehnke, CEO for the Americas, KACO new energy. "Our customers have come to expect the most advanced power conversion systems on the market and the combination of Ideal Power's and KACO's capabilities delivers precisely that for the renewables plus storage space. We believe this to be a significant addition to the KACO product line that will further our competitive advantage in the market."
At one-quarter to one-eighth the size and weight of conventional solutions, Ideal Power's systems result in significantly lower installed costs. Ideal Power's patented PPSA technology provides electrical isolation while eliminating the need for a transformer, making them smaller, lighter and more cost effective than traditional systems. Its patented technology, which increases round-trip efficiency, resulting in lower operational expenditures, combined with the reduction in material, manufacturing, shipping and installation costs, greatly improves return on investment for Ideal Power's systems.
