CE+T Energy Solutions Acquires Ideal Power’s Power Conversion Business Unit and Technology

AUSTIN, Texas, Sept. 24, 2019 (GLOBE NEWSWIRE) — Ideal Power Inc. (NASDAQ: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN™ bi-directional power switches, has sold its Power Conversion Systems business and Power Packet Switching Architecture (PPSA™) technology to CE+T Energy Solutions, Inc. for a combination of cash and shares of common stock of CE+T Energy Solutions, a provider of innovative energy solutions for the data center, microgrid, energy storage and industrial markets. CE+T Energy Solutions is a subsidiary of CE+T Group, the winner of the $1 million Google Little Box Challenge for a revolutionary power converter. The transaction closed on September 19, 2019.