Energous Announces New Partners to Accelerate Adoption of Over-The-Air Wireless Power Technology
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.
- Energous has partnered with Annukin, Ecobyte, and Peak Technologies, expanding its market reach.
- Annukin's implementation resulted in a 92% improvement in asset tracking coverage.
- Energous' technology enables battery-free IoT devices, offering a cost-effective and reliable power solution.
- The press release does not provide specific financial data or projections.
Insights
Energous Corporation's new partnerships with Annukin, Ecobyte and Peak Technologies signal a notable move in the adoption of over-the-air (OTA) wireless power technology. From a technology perspective, these partnerships are important in broadening the scope and application of Energous’ wireless power transmitters, which offer a unique solution to power IoT-enabled devices without the need for traditional batteries or cables. This innovation could revolutionize industries that are heavily reliant on asset and inventory tracking by enhancing operational efficiency and reducing maintenance costs associated with battery replacements.
IoT applications in supply chains are particularly impactful, as they allow for real-time monitoring of important metrics like location, temperature and humidity. The ability to power these devices wirelessly can lead to seamless integration and scalability of smart warehouses and retail spaces. For example, Annukin's successful Proof of Concept in Mexico, which improved asset tracking coverage by
In the long term, the greater adoption of wireless power in IoT applications could lead to widespread industry shifts. However, it will be important to monitor the efficacy and reliability of these solutions as they scale. Potential challenges include ensuring consistent power delivery over larger distances and managing any interference that might occur in dense IoT environments.
The partnerships announced by Energous with Annukin, Ecobyte and Peak Technologies can significantly drive market penetration for their OTA wireless power technology. For investors, this indicates an expansion in market reach across Latin America, Europe and North America. This strategic move can potentially diversify revenue streams and reduce reliance on any single geographical market.
From a financial perspective, the ability to provide a complete end-to-end asset tracking solution in various markets enhances the company's value proposition. As more companies look to optimize their supply chains with IoT solutions, Energous stands to benefit from increased demand for wireless power systems. This can translate into higher revenues and potentially improved margins, given the cost reduction in maintenance and battery replacements for customers.
However, there are risks to consider. Market adoption may take time, as companies need to assess the ROI of switching to a wireless power solution. Additionally, competition within the IoT and wireless power sectors is stiff and Energous will need to continually innovate and prove the robustness of its technology to maintain a competitive edge.
SAN JOSE, Calif., June 26, 2024 (GLOBE NEWSWIRE) -- Energous Corporation (NASDAQ: WATT), a pioneer in scalable, over-the-air (OTA) wireless power networks, today announced new partnerships with Annukin, Ecobyte, and Peak Technologies to help accelerate adoption of the company’s solutions worldwide. Energous wireless power transmitters transfer electrical power over-the-air to energize IoT-enabled devices for asset and inventory tracking and management—without the need for batteries, wires, or cables.
As more companies consider Internet-of-Things (IoT) applications to better manage their supply chains, they are faced with a significant challenge: how to efficiently and effectively power the small form factor devices needed to track critical asset and inventory data (e.g., location, temperature, humidity, etc.). Energous wireless power transmitters transfer electrical power over-the-air, delivering an easy-to-deploy and easy-to-maintain wireless power network for IoT applications that charges multiple, battery-free devices at any distance, at the same time.
“Annukin, Ecobyte, and Peak Technologies joining the Energous partner ecosystem represents a significant step forward in our ability to provide global solutions that address the growing need for cost effective, reliable, and consistent power for internet-connected devices and IoT applications in supply chain, retail, and healthcare settings,” said Mallorie Burak, Interim Principal Executive Officer and CFO of Energous. “Joining forces with experienced partners accelerates access to the Energous solutions that provide the fundamental building block – wireless power – to customers looking to optimize and build the warehouses of tomorrow and energize a new generation of battery-free IoT-enabled devices, from retail sensors and asset trackers to air quality monitors, motion detectors, and more.”
Annukin is an IT services and consulting partner in Latin America that specializes in IoT and smart spaces. The company recently completed a successful Proof of Concept for Energous with a Mexico-based retailer, building an Energous-powered asset tracking and management system that improved asset tracking coverage by more than
Ecobyte develops, hosts, and supports IT systems for the world of returnable packaging. The company focuses on the tracking of multi-use packaging assets in the retail, food, and manufacturing industries, developing solutions for supply chain visibility within companies or over a complete logistics chain. As an Energous System Integration Partner, Ecobyte will offer a complete end-to-end asset tracking solution to meet the growing demand for better supply chain visibility in Europe.
Peak Technologies is one of the industry’s largest providers of end-to-end technology solutions that modernize factories, optimize warehouses, and revolutionize retail experiences. The company provides consultancy on business processes, hardware, software and turn-key solutions for equipment repair, life cycle support, technology, vertical/application and business services. As an Energous System Integration Partner and Value-Added Reseller (VAR), Peak Technologies will offer a complete asset tracking solution for their customers in North America and Europe.
About Energous Corporation
Energous Corporation (NASDAQ: WATT) is pioneering scalable, over-the-air (OTA) wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company’s wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management—from retail sensors, electronic shelf labels, and asset trackers, to air quality monitors, motion detectors, and more. For more information, visit http://www.energous.com/ or follow on LinkedIn.
Forward-Looking Statements
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 similar terms. Examples of forward-looking statements in this release include but are not limited to statements about the future of the global wireless charging industry and statements about our technology and its expected functionality. Factors that could cause actual results to differ from current expectations include: uncertain timing of 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, and 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 in 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.
Media Contact:
Julie Seymour
Energous
jseymour@energous.com
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