Energous Completes Its Global Major Markets Regulatory Approval with 1W PowerBridge Certification in Japan

Rhea-AI Summary

Energous Corporation (NASDAQ: WATT) has secured regulatory approval for its 1W PowerBridge in Japan, allowing for unlimited power distance transmission in IoT applications across various sectors, including healthcare and retail.

This achievement marks a significant step in expanding Energous' market reach, following similar approvals in South Korea, China, the US, Canada, Europe, India, and Australia. The Japanese IoT market is projected to exceed 9.1 trillion yen ($69 billion) by 2026, emphasizing the increasing demand for reliable power solutions.

CEO Cesar Johnston highlighted this approval as a pivotal milestone, reinforcing Energous' position in the active energy harvesting technology sector.

Positive

• Regulatory approval in Japan expands market opportunities for Energous.
• Projected growth of the Japanese IoT market to 9.1 trillion yen ($69 billion) by 2026 increases demand for Energous' technology.
• Ability to deploy technology without distance limitations enhances usability in various applications.

Negative

• None.

Approval in Japan expands Energous’ global reach and enables the company to bring active energy harvesting technology to IoT applications.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Energous Corporation (NASDAQ: WATT), a leading developer of RF-based wireless power networks, today announced that its 1W PowerBridge has been approved by Japan’s regulatory body for unlimited power distance transmission. This approval enables Energous to deploy its active energy harvesting technology throughout the technologically advanced Japanese market in smart home, industrial, retail, healthcare IoT applications such as real-time asset tracking and digital supply chain management with no distance limitations.

Energous’ regulatory approval in Japan is the latest milestone in a series of major market approvals for 1Watt PowerBridge, with similar certifications previously having been obtained in South Korea, China, the United States, Canada, the UK, Europe, India, Australia and New Zealand.

Energous commends the Japanese government’s Ministry of Internal Affairs and Communications (MIC) as well as our industry partners at the Broadband Wireless Forum (BWF) for their substantial leadership in developing these new regulations. The joint effort between government and industry allows these next generation wireless power network devices to be safely deployed in rapidly expanding new markets.

“This regulatory approval in Japan is a major accomplishment that aligns with our overall business strategy that reinforces our position as a global leader in active energy harvesting technology,” said Cesar Johnston, CEO of Energous. “This approval enables our Japanese businesses partners to harness the reliable power of Energous’ RF-based wireless energy harvesting as we work to open the market to multiple opportunities.”

According to Statista Research Department, the Japanese IoT market is expected to reach more than 9.1 trillion yen by 2026 ($69 billion USD), increasing by more than 40% in just five years. This rapid projected growth of devices will require reliable and consistent power to function properly. The current power methods of replaceable batteries and charging cables are unreliable and unsustainable while presenting logistical problems and hidden costs for IT teams, especially those managing large-scale IoT deployments.

Energous’ PowerBridges are capable of charging multiple devices simultaneously at-a-distance via RF-based wireless power over the air, enabling manufacturers to design cordless, batteryless and fully waterproof sensors, smart tags, asset trackers and other IoT applications that can be deployed in smart home, industrial, retail, and healthcare markets. They can send power to, and act as a data link for, connected IoT devices. These devices will demand reliable power to function, however most are currently fueled by batteries, which don’t all lose power at the same time, or by cumbersome charging cables and cords that present logistical nightmares and hidden costs to IT teams and large-scale IoT deployments.

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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005662/en/

Energous Public Relations:

SHIFT Communications

energous@shiftcomm.com

Energous Investor Relations:

Padilla IR

IR@energous.com

Source: Energous Corporation

FAQ

What recent approval did Energous Corporation receive in Japan?

Energous Corporation received regulatory approval for its 1W PowerBridge, allowing unlimited power distance transmission for IoT applications.

How does the regulatory approval in Japan impact Energous Corporation's market position?

The approval enhances Energous' global market reach and reinforces its leadership in active energy harvesting technology.

What is the expected growth of the IoT market in Japan by 2026?

The Japanese IoT market is expected to reach over 9.1 trillion yen ($69 billion) by 2026, increasing demand for reliable power solutions.

What sectors can benefit from Energous' technology following the approval in Japan?

Sectors such as smart home, healthcare, industrial, and retail can benefit from Energous' wireless power technology.

What prior approvals have been obtained by Energous Corporation?

Energous has obtained similar certifications in South Korea, China, the US, Canada, Europe, India, and Australia.