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| Statement |
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| There's a growing list of customers working with our team in each of our key target markets and I'm pleased and excited about our progress and the feedback we're receiving from our growing customer engagements |
| When we look out over the next 12 months, we're confident we can continue to drive considerable commercial progress in our target markets |
| Our asset-light business model gives us the ability to continue focusing on technology improvement while being able to quickly incorporate customer feedback for our product roadmap |
| Since the start of the fourth quarter, we successfully completed several additional milestones and had some very positive customer recognition that collectively confirms our continued progress on our B-TRAN commercialization roadmap |
| We're thrilled about our momentum, recent successes customer feedback and recent announcement in these major areas |
| Another advantage to our approach is our ability to leverage the huge investment that's already been made in silicon wafer fabrication and packaging for power devices |
| And our talented team is on track for a very successful 2024 |
| These videos and application notes have already produced new opportunities in our sales funnel and are producing a high number of views with our target technical audience, demonstrating a growing interest in and awareness of our technology |
| We're confident each of these wafer fabs has ample capacity to meet our expected demand over at least the next two to three years |
| Now because we're working under a nondisclosure agreement with them, they won't let us say what the model improvement was from using B-TRAN but what we do know is they were really happy that it met their expectations |
| That's quite impressive |
| Due to its compelling advantages, B-TRAN is also being evaluated for Stellantis' vehicle power management, circuit protection and EV charging ecosystem |
| Better power semiconductors mean more useful energy for a solar or MG storage installation, longer range and faster charging for an electric vehicle and lower cost and more efficient use of electricity |
| That's why we're so excited about the timing of our commercialization and what B-TRAN brings to the market |
| And we're pleased to say the outcome of the assessment was very positive |
| Due to the strong performance of our team and our technology, we're continuing to earn our place in the program and recently announced that we successfully completed Phase 2 of the program several months ahead of schedule |
| We're thrilled with our progress in their program to use B-TRAN in their future EV drivetrain |
| I think both -- initially with the Navy program for solid-state circuit breakers and then with Stellantis, particularly after we were able to named, we were named finalists in the Stellantis Venture Awards, have both really resulted in a significant increase in our sales funnel, significant inbound inquiries, particularly around the solid state circuit breaker application in the hybrid and electric vehicle application as well |
| I mean we've been really impressed by the caliber of their in-house team that's working on electric vehicles |
| We made great progress delivering against our B-TRAN commercial roadmap in 2023, and that progress has continued into 2024 as our customer engagements are expanding |
| While we're certainly excited about our progress and recent news, we're even more excited about how 2024 is shaping up for the company |
| We made great progress here on our path to commercialize our technology |
| Being automotive qualified helps us across the board in both automotive and industrial applications |
| Well, keep up with good work gentlemen, and looking forward to the continued success |
| Our technology has the potential to improve the performance and cost of a wide variety of applications that are part of this fundamental change in how we make, distribute and use electricity |
| Our priorities for 2024 are to convert large OEMs and our test and evaluation program to design wins and/or custom development agreements, sell simple power modules to additional target industrial customers, add distributors for SymCool products, continue the strong execution on our development program with Stellantis, begin third-party automotive qualification testing, complete the qualification of a second high-volume production fab and capture initial sales of our SymCool IQ intelligent power module |
| So they've been really good to work with and their team is really, really sharp technically |
| And that's what really creates the opportunity for B-TRAN |
| It helps industrial customers get a comfort level for the readiness of a new technology |
| And our technology gives them the ability to have the same semiconductor in this huge range so they can craft the solutions to give them really a unique offering compared to the rest of the marketplace |
| Statement |
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| So the first one I want to ask about is following and covering the clean energy kind of like utility scale solar space, there's an acute pain that the project developers are feeling right now and it's flowing through and impacting a lot of the utility scale equipment providers that I cover |
| Technology adoption with customers, especially the big customers that we're working with always seems to take longer than anybody would like |
| But are there any challenges you see in terms of educating that potential sales force? Dan Brdar Not so much as challenges |
| You talked in the past about one of the biggest hurdles is educating your customers or potential customers |
| In fact, what actually happens is you parallel losses, losses go down |
| But we haven't really been too focused on that yet, simply because of the fact that silicon carbide needs to come down significantly in cost, it needs to improve in quality and it's not trivial |
| Net loss in the fourth quarter of 2023 was $2.4 million compared to $1.9 million in the fourth quarter of 2022 |
| We expect B-TRAN to displace conventional power semiconductor solutions in many applications with a solid-state circuit breaker, renewable energy, energy storage, hybrid and electric vehicles and other industrial markets |
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