Ideal Power names David Somo as new CEO

Ideal Power Inc. (NASDAQ: IPWR) appointed David Somo as President and Chief Executive Officer effective November 3, 2025, according to a company statement. Somo also joined the company's Board of Directors.

Somo succeeds Dan Brdar, who retired as President and CEO and from the Board on November 2, 2025. The Austin-based company develops bidirectional semiconductor power switch technology.

The new CEO brings over 30 years of semiconductor industry experience across industrial, automotive, data center, consumer, computing, and communications markets. Somo previously served as Senior Vice President at onsemi, where he handled corporate strategy, marketing and business development. Most recently, he was President and CEO of Preciseley Microtechnology Corporation.

"We are delighted that David is joining us as President and CEO at a time when we are commercializing our innovative, low-loss bidirectional power semiconductor technology," said Michael C. Turmelle, Chairman of Ideal Power's Board of Directors.

As part of his appointment, Somo received inducement awards including restricted stock units for 247,438 shares of company common stock, vesting in three equal annual installments beginning November 3, 2026. He also received performance restricted stock units for 247,438 shares, with vesting subject to achievement of certain performance goals.

The company will hold its quarterly conference call on November 13, 2025 at 10:00 AM Eastern Time to discuss third quarter 2025 results.

Ideal Power develops B-TRAN bidirectional semiconductor technology for electric vehicle, renewable energy, energy storage and other industrial applications.

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