CE+T Energy picks up Ideal Power’s PPSA unit

In a press release, CE+T CEO Mario Barbaresso said, “PPSA is a very important strategic fit for us and complements our world-renowned power converter expertise. This technology will help us better serve customers who require efficient and optimized energy solutions.” “This transaction allows us to devote 100% 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,” said 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.” The acquisition, which closed recently, included a combination of cash and shares of common stock. CE+T Energy Solutions is based in Austin, Texas and is a North American subsidiary of Belgium-headquartered CE+T Group.