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© CET Energy Solutions General | October 01, 2019

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

CE+T Energy Solutions has acquired Ideal Power Inc.’s patented Power Packet Switching Architecture (PPSA) technology.

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.
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October 11 2019 3:09 pm V14.5.0-2