Energous Announces Value-Added Distribution Partnership with DigiKey
Energous (NASDAQ: WATT) has announced a new value-added distribution partnership with DigiKey, a global distributor of technical components and automation products. This partnership will see the availability of Energous' 1W PowerBridge and 1W Omnidirectional PowerBridge transmitter systems on the DigiKey website, with additional products to follow. This move is set to expand Energous' global footprint in the rapidly growing Internet of Things (IoT) market, which is projected to exceed $650 billion by 2026. Energous' wireless power network solutions aim to provide continuous, battery-free operations for IoT applications, addressing the limitations and costs associated with traditional power solutions. This collaboration is expected to accelerate market adoption and create new opportunities for Energous' technologies in various industries, including retail and logistics.
- Energous' partnership with DigiKey expands their global distribution footprint.
- The global IoT market is expected to exceed $650 billion by 2026, providing significant growth opportunities.
- Energous' wireless power solutions offer continuous, battery-free operations, addressing key limitations of traditional power solutions.
- DigiKey's vast customer base and extensive product inventory can create new opportunities and customer bases for Energous.
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Energous Corporation's partnership with DigiKey stands to significantly benefit the IoT sector, which is rapidly expanding. DigiKey's global reach can provide Energous' wireless power solutions with substantial market exposure. This is important as the IoT market is projected to exceed
For stakeholders, the short-term impact might not immediately reflect in significant revenue spikes. However, the long-term potential is substantial. If Energous can solidify its presence in the growing IoT market through DigiKey, it could see a steady increase in market share and recurring revenue streams from device manufacturers seeking efficient, battery-free power solutions.
From a financial perspective, the partnership with DigiKey presents an opportunity for Energous to diversify its revenue streams and potentially stabilize its cash flow. DigiKey serves nearly one million customers annually, which could translate into a broader customer base for Energous. This increased market penetration might help improve the company's financial health by boosting sales volumes of their wireless power products.
However, investors should monitor the financial metrics closely, particularly Energous' quarterly earnings and revenue growth. It’s important to measure how effectively this partnership converts into tangible financial gains. The IoT market’s growth is promising, but actual financial performance will be the true test of this partnership's success. Moreover, the scalability and adoption rates of Energous' technology will play a critical role in determining long-term financial stability.
The inclusion of Energous' products in DigiKey's portfolio is a strategic move, especially considering DigiKey's extensive distribution network. This partnership could position Energous to capture a significant share of the global IoT market. The ability to offer continuous, battery-free power for IoT devices addresses a longstanding pain point, potentially driving higher demand for such technologies.
Market research indicates that seamless integration of wireless power in IoT applications could enhance efficiency in sectors such as retail, logistics and manufacturing. By leveraging DigiKey's distribution channels, Energous can tap into these markets more effectively. For retail investors, understanding this market dynamic could highlight potential growth areas for Energous, provided they execute their market strategy effectively and maintain innovation momentum.
New Partnership Expands Global Distribution of Energous Wireless Power Network Solutions
SAN JOSE, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Energous Corporation (NASDAQ: WATT), a pioneer in scalable, over-the-air wireless power networks, today announced a new value-added distribution partnership with DigiKey, a leading global commerce distributor offering the largest selection of technical components and automation products in stock for immediate shipment. The Energous 1W PowerBridge and 1W Omnidirectional PowerBridge transmitter systems are now available for sale on the DigiKey website, with new products to be added as they become available. This new partnership will expand Energous’ distribution footprint in the global Internet of Things (IoT) market.
The global IoT market is growing rapidly, and is expected to reach more than
“Through this partnership with DigiKey, we aim to accelerate market adoption of our wireless power network solutions, which deliver continuous, battery-free operations for IoT applications, such as asset and inventory tracking and management. Energous transmitter and receiver technologies will help power the next generation of IoT-enabled devices, from retail sensors and electronic shelf labels to air quality monitors, motion detectors, and more,” said Mallorie Burak, Interim Principal Executive Officer and CFO, Energous. “As a value-added distribution partner serving close to one million customers annually, DigiKey will help create new opportunities and new customers for our wireless power network solutions.”
Minnesota-based DigiKey is a worldwide distributor of electronic components and automation products and a multi-billion dollar company shipping over 6 million annual orders. Founded in 1972 as a small mail-order electronics company, DigiKey now sells more than 15 million products, including over 115,000 RF and wireless products, from over 2,900 suppliers through its over 3 million square feet of warehouse facilities, including its new 2.2 million sq. foot product distribution center expansion, one of the largest warehouses in North America.
“We are excited to add Energous to our power portfolio,” said Missy Hall, Vice President of New Market Development, DigiKey. “Their keen focus on offering complete wireless power solutions to critical industries, including retail, transportation and logistics and manufacturing, will provide an excellent opportunity for our customers to streamline their development cycles.”
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 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.
About DigiKey
DigiKey, headquartered in Thief River Falls, Minn., USA, is recognized as the global leader and continuous innovator in the cutting-edge commerce distribution of electronic components and automation products worldwide. We get technical by providing more than 15.3 million components from over 2,900 quality name-brand manufacturers with an industry-leading breadth and depth of product in stock and available for immediate shipment. DigiKey also supports engineers, designers, builders and procurement professionals with a wealth of digital solutions, frictionless interactions and tools to make their jobs more efficient. Additional information can be found at digikey.com and on Facebook, Twitter, YouTube, Instagram and LinkedIn.
Media Contact:
Julie Seymour
Energous
jseymour@energous.com
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