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Energous Corporation (symbol: WATT) is a pioneering company in the field of wireless charging technology. The company is renowned for its innovative WattUp® technology, an award-winning, wire-free charging solution that aims to revolutionize how consumers and industries power electronic devices. Unlike traditional wireless chargers that require physical contact with a charging pad, WattUp® uses radio frequency (RF) technology to deliver scalable power over distances, much like a Wi-Fi signal.
Energous' core business revolves around its Wireless Power Networks Technology (WPNT), which includes semiconductor chipsets, software controls, hardware designs, and antennas. This comprehensive technology suite enables RF-based charging for a wide range of Internet of Things (IoT) devices, offering a truly wireless and flexible charging experience.
The company's product lineup features Transmitter IC & Modules, Receiver ICs, Transmitter Systems, and other essential tools that facilitate seamless wireless power delivery. This technology is particularly advantageous in environments such as homes, offices, cars, and more, where it offers convenience and reduces cable clutter.
In terms of recent achievements, Energous has continued to solidify its position as a leader in wireless charging. The company has been actively involved in developing partnerships and collaborations to expand its technology's reach and application. For instance, Energous recently announced a collaboration with WiGL, aiming to integrate their technologies for enhanced wireless power solutions.
Financially, Energous Corporation has been focused on growing its market presence and scaling its product offerings. The company's commitment to innovation and its established reputation in the wireless charging industry make it a significant player to watch.
Energous (NASDAQ: WATT) reported Q3 2024 financial results with revenue of $230,000, up 36% year-over-year. The company reduced its net loss to $(3.4) million, or $(0.50) per share, compared to $(4.1) million in Q3 2023. Total costs decreased to $3.8 million from $5.3 million year-over-year.
The company achieved its highest quarter for commercial PowerBridge transmitter system shipments since Q4 2021, with $0.2 million in backlog. Active Proof of Concept trials increased 19% to 56. Notable developments include orders from a Fortune 10 retail organization and FCC certification for the 2W PowerBridge transmitter.
Energous (NASDAQ: WATT) has announced a partnership with a global RFID leader to develop a battery-free smart tag for retail asset tracking applications. The new tag will utilize Energous' Wireless Power Network (WPN) technology to power ultra-low-power sensors and enable real-time data communication without batteries or grid connections.
The initiative targets the $4.2 billion global retail asset tracking market, which represents 30% of the total $14 billion RFID market in 2023. This collaboration marks a significant milestone in retail IoT adoption for asset and inventory tracking management.
Energous (NASDAQ: WATT) has won the 'IoT Innovation of the Year' award at the 8th annual Mobile Breakthrough Awards for its 2W PowerBridge transmitter system. The system provides wireless power networks for IoT applications, delivering continuous over-the-air energy and enabling data communication without batteries or cables. The technology combines EN3210 power amplifiers with an EN4100 SoC RF transmitter, capable of transmitting up to 8W EIRP with dual polarization and 99% device visibility.
The system is designed for enterprise applications including cold chain monitoring, fleet management, and temperature monitoring, offering improved operational efficiency and real-time data streaming for IoT devices. This breakthrough solution addresses the sustainability challenges of traditional RFID systems and battery-dependent sensors.
Energous Wireless Power Solutions (NASDAQ: WATT) has appointed Mallorie Burak as its permanent Chief Executive Officer and Board member, effective immediately. Burak, who joined the company in January 2024 as Chief Financial Officer, will continue to serve in this role alongside her new position as CEO.
With nearly 20 years of executive experience across various sectors, Burak brings a proven track record of revitalizing companies facing unique challenges. David Roberson, Chairman of the Board, expressed confidence in Burak's leadership, citing her exceptional performance as CFO and interim CEO.
Burak's appointment aims to drive Energous towards its growth and innovation goals in the wireless power technology sector, particularly as market demand for enhanced supply chain management with real-time tracking and smart inventory management increases.
Energous (NASDAQ: WATT) has announced the shipment of its 1W PowerBridge transmitter systems to a Fortune 10 multinational retail organization for use in commercial transportation applications. This follows the retailer's previous orders of 2W PowerBridge transmitters for grocery distribution centers. The ruggedized and weatherproof transmitters are designed to enable real-time inventory tracking during distribution, creating a smart supply chain that improves efficiency, customer service, and profitability.
The Energous PowerBridge transmitter systems provide a Wireless Power Network (WPN) that delivers always-on, over-the-air automated energy flow, optimizing IoT device performance. This allows the retailer to digitally monitor their transportation network 24/7/365, addressing shipment issues in real-time. The solution is described as safe, cost-effective, and eco-friendly, potentially helping retailers reduce their carbon footprint and food waste while ensuring fresher food for customers.
Energous (NASDAQ: WATT) has shipped its first orders of 2W PowerBridge transmitter systems to a Fortune 100 technology company. These transmitters will be used to create Wireless Power Networks (WPNs) for advanced asset tracking in reverse logistics processes at distribution centers. The Energous system provides continuous wireless power over-the-air and enables real-time data streaming for IoT devices in the supply chain.
Key features of the 2W PowerBridge transmitter include:
- Dual band, dual polarization antenna
- Up to 8W Effective Isotropic Radiated Power (EIRP)
- Up to 99% visibility of connected devices
Energous (NASDAQ: WATT) has received full FCC certification for its 2W PowerBridge transmitter system, marking a significant milestone in wireless power technology. This certification makes it the industry's first certified transmitter available at this power level, capable of delivering up to 8W Effective Isotropic Radiated Power (EIRP).
The Energous 2W PowerBridge transmitter enables the creation of Wireless Power Networks (WPNs) that can safely and efficiently deliver continuous wireless power over-the-air and at distance. This technology is particularly beneficial for enterprise supply chain applications, offering improved visibility, control, and intelligent business automation.
With this certification, Energous strengthens its position in the wireless power market, having received approvals in over 110 markets globally. The company's innovative technology is supported by 250+ patents, demonstrating its commitment to advancing battery-free innovations and building a more sustainable future.
Energous (NASDAQ: WATT) reported its Q2 2024 financial results and provided updates on partnerships. Key points include:
- Revenue of $46,000 vs $0.1 million in Q2 2023
- Backlog of $0.2 million as of August 6, 2024
- GAAP net loss of $(4.3) million, or $(0.65) per share
- Non-GAAP net loss improved 11% year-over-year to $(4.7) million
- Cash and cash equivalents of $4.9 million with no debt
- Active Proofs of Concept (POCs) increased to 47
- New partnerships with DigiKey, Peak Technologies, and Ecobyte
The company is transitioning from POCs to commercial deployments, focusing on wireless power network solutions for asset tracking and inventory management.
Energous (NASDAQ: WATT) has received multiple orders from a Fortune 10 multinational retailer for its 2W PowerBridge transmitter systems. This follows a successful proof of concept project for a comprehensive Wireless Power Network (WPN) that provides always-on, data-rich asset tracking for improved grocery and store supply chain visibility.
The orders are part of an initial implementation of a nationwide infrastructure optimization project, starting with modernization in a grocery distribution center and 170 grocery stores. The Energous 2W PowerBridge transmitter systems will deliver continuous wireless power over-the-air and enable real-time data streaming for IoT-enabled devices in the supply chain, such as sensors and tags.
This technology will allow the retailer to digitally monitor and optimize their grocery distribution network, proactively addressing shipment issues to ensure timely product delivery to stores.
Energous (NASDAQ: WATT), a leader in wireless power networks, has announced partnerships with Annukin, Ecobyte, and Peak Technologies to accelerate global adoption of their over-the-air (OTA) wireless power solutions. These partnerships aim to enhance IoT-enabled asset and inventory management without the need for batteries or cables. Annukin has successfully implemented Energous' technology with a Mexican retailer, improving asset tracking by over 92%. Ecobyte will offer comprehensive tracking solutions for multi-use packaging in Europe, while Peak Technologies will provide asset tracking across North America and Europe. The collaboration aims to optimize supply chains, retail, and healthcare settings worldwide.
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