Energous and InnoTractor Partner to Enable next generation Wireless Powered Asset Tracking Solutions Across a Wide Range of IoT Applications

Rhea-AI Summary

Energous Corporation (NASDAQ: WATT) has partnered with InnoTractor, a European IoT solutions provider, to integrate wireless power solutions for real-time asset tracking in various industries. This collaboration aims to utilize Energous’ PowerBridge technology and Wiliot IoT Pixel tags to enhance cost-effectiveness, mobility, and sustainability in logistics and supply chains.

The asset tracking market is experiencing rapid growth, necessitating reliable power solutions for Internet-connected devices. This partnership will facilitate customized, wirelessly powered IoT solutions, addressing the pressing challenge of providing consistent power to numerous devices in large-scale deployments.

Both companies hope this collaboration will expand Energous' market reach into Europe, further driving innovation in the wireless charging sector.

Positive

• Partnership with InnoTractor expands market reach into Europe.
• Integration of PowerBridge technology enhances logistics and supply chain efficiency.
• Addresses the growing demand for reliable power solutions in the booming IoT asset tracking market.

Negative

• None.

This Partnership will support full wireless power deployments— including Energous power bridges with Wiliot IoT Pixel tags to enable a new generation of IoT devices

SAN JOSE, Calif.--(BUSINESS WIRE)-- Energous Corporation (NASDAQ: WATT), a leading developer of RF-based intelligent wireless power networks, and InnoTractor — a European provider of IoT-based solutions for logistics and supply chain applications — today announced a partnership to integrate wireless power solutions for real-time asset tracking across various industries witnessing significant IoT growth. The partnership will enable InnoTractor to integrate and deploy Energous’ PowerBridge technology and Wiliot’s IoT Pixel tags, providing customers with a solution featuring lower costs, increased mobility and improved sustainability.

As IoT continues its rapid growth, including in the asset tracking market, deploying cost-effective and reliable solutions is critical to cost optimization efforts among supply chains. A complex ecosystem, asset tracking infrastructure features multiple subsystems interacting with each other to uniquely identify items such as finished goods or raw materials, and to provide end users with real-time information on stock status. Deploying complete asset tracking solutions requires extensive effort and collaboration from different parties, in particular system components suppliers and system integrators. Through this partnership, Energous will provide its wireless power technology and Wiliot IoT Pixel labels which InnoTractor will integrate into different asset tracking subsystems to deliver customized, wirelessly powered IoT solutions for logistics and supply chain customers.

“The asset tracking market is exploding alongside the growth of IoT, driving the need to provide internet-connected asset tracker deployments with reliable and consistent power,” said Cesar Johnston, CEO of Energous. “Our partnership with InnoTractor expands our reach into the European market, enabling them to provide customized wireless power solutions to their end customers.”

Founded in 2018, InnoTractor implements digital technologies for a better world. Using IoT, blockchain, cloud and the latest wireless technologies, InnoTractor reduces emissions and waste, including waste of time, operational inefficiencies, loss of opportunity and wasted physical goods due to insufficiently controlled conditions during transport. It provides IoT-based solutions for logistics and supply chains to track assets like RTI (Returnable Transport Items), ownership and monitor goods and conditions, supporting customers from business needs to complete solutions over the lifetime of the solution. InnoTractor’s solutions enable customers with actionable insights and control over their supply chain, monitor service level agreements and connect parties in the end-to-end supply chain. Wiliot products and services, such as its IoT Pixel tags, provide an essential part of the complete customer solution for asset detection and goods condition monitoring.

“This partnership is a tremendous example of system suppliers like Energous and Wiliot working with IoT platform providers and integrators like InnoTractor to develop solutions to solve one of the most pressing challenges in asset tracking: how to provide reliable power to IoT devices in large deployments,” said Frank Hermans, CEO at InnoTractor. “We share with Energous a vision of enabling a new generation of IoT devices free from the burden of replaceable batteries and power cables and with lower costs, increased mobility and sustainability.”

The joint solution will include Energous PowerBridges along with Wiliot IoT Pixel tags by leveraging its inlay-assembly and tag-conversion partners. InnoTractor will provide its Gravity IoT platform, Orbitz trackers and gateways and its integration services in various operational environments, tailoring the implementation to the customer need at competitive costs.

To learn more about Energous, please visit Energous.com or follow the company’s corporate pages on Twitter, Facebook and LinkedIn.

About Energous Corporation

Energous Corporation (Nasdaq: WATT) is the Wireless Power Network global leader. Its award-winning WattUp® solution is the only technology that supports both contact and distance charging through a fully compatible ecosystem. Built atop fast, efficient, and highly scalable RF-based charging technology, WattUp is positioned to offer improvements over older, first-generation coil-based charging technologies in power, efficiency, foreign device detection, freedom of movement and overall cost for industrial and retail IoT, smart homes, smart cities and medical devices. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs, and provides worldwide regulatory assistance, a reliable supply chain, quality assurance, and sales and technical support to global customers. The company received the world’s first FCC Part 18 certification for at-a-distance wireless charging and has been awarded over 200 patents for its WattUp wireless charging technology to-date.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other similar terms. Examples of our forward-looking statements in this release include, but are not limited to, our statements about the success of our collaborations with our partners, statements about our technology and its expected functionality, and statements with respect to the future of the global wireless charging industry. Factors that could cause actual results to differ from current expectations include: uncertain timing of any necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent annual report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequently filed quarterly reports on Form 10-Q, as well as any other documents that may have been subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous’ views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law.

About InnoTractor

InnoTractor is an IoT company with the vision of “Zero waste supply chains”. InnoTractor implements digital technologies for a better world. Using IoT (Internet-of-Things), blockchain, cloud and the latest wireless technologies it reduces waste and emissions in supply chains. By providing essential information to existing business systems it identifies waste of time, operational inefficiencies, loss of client opportunity but also wasted physical goods due to insufficiently controlled conditions during transport. InnoTractor combines its own Gravity IoT and DiLLaS™ ledger platforms, Orbitz IoT devices with the latest 3^rd party technology to provide the best lifecycle solutions for its customers.
InnoTractor was founded in 2018 by Frank Hermans and has grown to a team of 16 professionals, serving customers in the packaging-, production-, healthcare industries in Europe.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230412005255/en/

Energous Investor Relations:

Padilla IR

IR@energous.com

Energous Corporate Communications:

SHIFT Communications

energous@shiftcomm.com

InnoTractor Communications:

Maurice.van.Tholen@innotractor.com

Source: Energous Corporation

FAQ

What is the recent partnership involving Energous (WATT)?

Energous has partnered with InnoTractor to integrate wireless power solutions for asset tracking in various industries.

How will the partnership between Energous (WATT) and InnoTractor benefit the logistics industry?

The partnership aims to provide cost-effective, reliable, and sustainable wireless power solutions for IoT devices in logistics and supply chains.

What technology will Energous (WATT) provide in the partnership with InnoTractor?

Energous will provide its PowerBridge technology and Wiliot IoT Pixel tags.

When was the partnership between Energous (WATT) and InnoTractor announced?

The partnership was announced on April 12, 2023.

What market is Energous (WATT) targeting with its new partnership?

Energous is targeting the asset tracking market as part of its collaboration with InnoTractor.