Energous Applauds AirFuel™ RF Standard for Wireless Power Transfer

Rhea-AI Summary

Energous Corporation (NASDAQ: WATT) has announced its support for the AirFuel RF, now recognized as an industry standard for RF-based wireless charging. As a board member of the AirFuel Alliance, Energous highlighted how this development enables simultaneous charging of various IoT devices, addressing power needs in sectors like retail and industrial. This advancement aims to eliminate the reliance on replaceable batteries and power cables, enhancing operational efficiency. The technology promotes batteryless and maintenance-free devices, pivotal for the expanding IoT ecosystem.

Positive

• Recognition of AirFuel RF as an industry standard enhances credibility for Energous's technology.
• Energous's WattUp technology supports simultaneous charging of multiple IoT devices, increasing market applicability.
• The move towards batteryless devices reduces operational costs and maintenance for businesses.

Negative

• None.

As an AirFuel Alliance board member, Energous supported the development of the radio frequency-based industry standard to charge or power IoT devices over-the-air

SAN JOSE, Calif.--(BUSINESS WIRE)-- Energous Corporation (NASDAQ: WATT), a leading developer of RF-based charging for wireless power networks, today applauds the announcement that AirFuel RF, the radio frequency-based wireless charging technology from AirFuel Alliance, is now an industry standard.

AirFuel Alliance® is a global coalition of companies, including Energous, focused on developing standards for leading edge wireless power technologies and accelerating their adoption. Like Energous’ WattUp technology, AirFuel RF uses radio frequency (RF) wireless power and enables rapid charging of multiple devices simultaneously. AirFuel RF is now an industry standard, opening RF-based wireless power to further support the growing power needs of the rapidly expanding IoT ecosystem of devices such as sensors, smart tags, asset trackers and other IoT applications.

“Energous has been on the AirFuel Alliance board of directors since 2016 and we are proud to have supported this development, a critical milestone for the scalability of the growing ecosystem of IoT devices which need consistent and reliable power,” said Cesar Johnston, CEO of Energous. “Over-the-air RF-based wireless power enabled by AirFuel RF and our WattUp technology frees IoT deployments from the burdens of replaceable batteries and power cables, enabling a new reality of batteryless, mobile, waterproof, maintenance-free, and easier-to-implement devices.”

Internet-connected devices are expanding in both numbers and capabilities, driving innovation, and delivering tremendous value. However, the current power delivery methods to IoT devices — including power cables and replaceable batteries — are not ideal and in many cases are limiting the rollout and practical use cases, particularly in the industrial and retail environments. RF-based wireless power transfer overcomes these issues, ensuring a reliable, consistent power delivery method that can help large IoT deployments scale at an economic price.

“Today marks a significant milestone for the wireless power industry, as it establishes RF-based wireless power as a recommended standard form of wireless power transfer for the industry,” said Dr. Sanjay Gupta, President of AirFuel Alliance. “AirFuel RF allows for the charging of multiple IoT devices with different power needs all at once. Ultimately, this technology enables battery-less devices in applications including wearables, retail, smart sensors, accessories, and more. We are thrilled at its availability as an industry standard.”

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

For more information on AirFuel Alliance and AirFuel RF, visit airfuel.org.

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 future of the global wireless charging industry, statements based on third parties’ market analyses, statements about our technology and its expected functionality, statements about any governmental approvals we may need to operate our business, statements with respect to the potential total addressable market for our current technologies and future products, and statements with respect to expected company growth. 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 AirFuel Alliance

AirFuel® Alliance is a global coalition of innovative companies who are committed to a world where we can power up without plugging in. The Alliance develops universal standards for leading edge wireless power technologies and accelerates their adoption by building a global, interoperable wireless power ecosystem supported by eco-friendly infrastructure through approved specifications and testing protocols. AirFuel Resonant and AirFuel RF technologies enable rapid charging of multiple devices simultaneously and free of cords. For more information visit www.airfuel.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005008/en/

Energous Public Relations:

Darren Weiss

energous@shiftcomm.com

Energous Investor Relations:

Padilla IR

IR@energous.com

Source: Energous Corporation