Leader in Over-the-Air Wire-Free Charging Inks Agreements With Top Tier Manufacturers in the IoT Space as it Migrates From Development to Production in 2016
LAS VEGAS, NV — (Marketwired) — 01/07/16 — Energous Corporation (“Energous®” or “the Company”) (NASDAQ: WATT), the developer of WattUp™, a revolutionary wire-free charging technology for mobile and IoT devices that provides “over-the-air” power at a distance, today announced at CES International 2016 that it has signed evaluation agreements with two tier-1 Internet of Things companies as part of the process to expand and accelerate the next group of WattUp licensees. Energous is transitioning as a company from development to fulfillment in 2016 and, as part of this transition will continue to expand its licensee portfolio and establish key strategic partnerships in a number of vertical markets including IoT, gaming devices, batteries and more.
“2015 has been a year of rapid development for the Company and has exceeded our expectations in terms of the commercialization of the WattUp technology, especially in the areas of miniaturization and cost reduction,” said Stephen R. Rizzone, CEO of Energous. “An outgrowth of our rapid progress is the opportunity to expand into high-volume, high-visibility verticals like wearables and IoT. Having announced at CES the introduction and availability of the smallest, lowest cost wire-free power solution available in the market today, we are very pleased to also announce formal engagements with our first two top tier IoT companies. They will be part of a group of strategic partners receiving our high power and low power reference design kits.”
Terms of the agreement include customary confidentiality clauses to preserve the competitive advantage for these partners. The two companies are both multi-billion dollar CE organizations with broad product lines and worldwide scope. Selection of these two partners was made on the basis of their product launch cycles and their ability to potentially meet the Energous goal of shipping product to the consumer through a licensee in late 2016, early 2017.
WattUp is a revolutionary, award-winning wire-free charging solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router at a distance of up to 15 feet. Not only does the WattUp ecosystem give consumers full mobility while charging in a home, office or retail environment, but the Company has an extensive partner portfolio and a real, working demo that is on display at CES International 2016. To learn more about Energous, please visit www.Energous.com.
About Energous Corporation
Energous Corporation (NASDAQ: WATT) is developing WattUp, an award-winning wire-free charging technology that will transform the way people and industries charge and power their electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary, patent-pending solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router. WattUp differs from current wireless charging systems in that it will deliver meaningful, usable power, at a distance, to multiple devices, resulting in a wire-free experience that saves users from having to remember to plug in their devices or place them on a mat. For more information, please visit Energous.com, or follow Energous on Twitter and Facebook.
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Source: Energous Corporation
Released January 7, 2016