CE+T Group is a holding including CE+T Power, specializing in power backup solutions. The company is known for winning the $1 million Little Box Challenge organized by Google to design the world’s smallest inverter. The group created CE+T Energy Solutions to develop and market solutions for energy management applications.
Ideal Power Inc. is known for developing and commercializing B-TRAN bi-directional power switches but has also developed PPSA (Power Packet Switching Architecture) Technology within its Power Conversion Systems business unit. PPSA technology is implemented in two different solutions named Stabiliti 30C3 and Stabiliti 30C.
To accelerate the commercialization of solutions for energy management applications and expand its portfolio of products and technologies, CE+T Energy Solutions has signed a deal with Ideal Power Inc. for the acquisition of the PPSA technology for a combination of cash and shares of common stock.
“PPSA is a very important strategic fit for us and complements our world-renowned power converter expertise,” says Mario Barbaresso, CEO of CE+T Energy Solutions. “This technology will help us better serve customers who require efficient and optimized energy solutions,” he continues.
“We are excited to add highly skilled members to our creative team and strengthen the company for the Green Energy Revolution,” states Robert Eyben, CEO of CE+T Group.
“This transaction allows us to devote 100 percent of our resources, personnel, time and energy to the development and commercialization of our highly efficient B-TRAN power switch technology while providing Ideal Power shareholders with an opportunity to benefit from our equity ownership in CE+T Energy Solutions,” says Dr. Lon E. Bell, chairman and CEO of Ideal Power. “CE+T Energy Solutions’ power conversion expertise makes them an excellent choice to further the commercialization of the PPSA products and the solutions they enable.”