The licensing agreement will enable the development of microgrid systems and improve performance of electric/hybrid-EVs, among other applications.
The IPC technology will enable Lockheed Martin to create compact power converter systems that will connect AC and DC sources and loads to a common (AC, DC or hybrid) bus and operate at cooler temperatures, thus benefitting a range of applications including microgrids, military vehicles and commercial plug-in hybrid EVs.
Lockheed Martin plans to sublicense the technology for certain automotive applications, while IPC intends to continue to develop products for utility applications including variable frequency drives to AC motors, PV inverters, wind converters and inverters for grid storage.
Bill Alexander, CEO and chief technology officer of IPC, said: “Lockheed Martin has one of the most advanced power electronic teams in the world. They quickly recognized the tremendous potential for our disruptive technology for both military and commercial clean tech applications.”
