On Monday, Ideal Power Inc (NASDAQ:IPWR) announced an agreement with Sekorm Advanced Technology (Shenzhen) Co to distribute Ideal Power's products throughout China.

"This leading demand-creation distributor addresses B-TRAN target industrial and automotive markets in China, the world's largest market for power semiconductors. We look forward to collaborating with Sekorm to secure orders that may potentially lead to design wins and/or custom development agreements," Ideal Power CEO Dan Brdar said.

Also Read: EXCLUSIVE: Ideal Power Secures Global Distribution Deal with RYOSHO USA

Ideal Power has agreements with three distributors with demand generation expertise and comprehensive customer networks that expand its global reach: Richardson Electronics for the international distribution of Ideal Power's products; RYOSHO U.S.A, INC, a subsidiary of RYODEN CORP for the worldwide distribution of Ideal Power's products with particular strength in Japan; and Sekorm Advanced Technology (Shenzhen) Co for distribution of Ideal Power's products throughout China.

Price Action: IPWR stock closed higher by 7.90% at $8.74 on Friday.

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