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Energous Corporation (symbol: WATT) is a pioneering company in the field of wireless charging technology. The company is renowned for its innovative WattUp® technology, an award-winning, wire-free charging solution that aims to revolutionize how consumers and industries power electronic devices. Unlike traditional wireless chargers that require physical contact with a charging pad, WattUp® uses radio frequency (RF) technology to deliver scalable power over distances, much like a Wi-Fi signal.
Energous' core business revolves around its Wireless Power Networks Technology (WPNT), which includes semiconductor chipsets, software controls, hardware designs, and antennas. This comprehensive technology suite enables RF-based charging for a wide range of Internet of Things (IoT) devices, offering a truly wireless and flexible charging experience.
The company's product lineup features Transmitter IC & Modules, Receiver ICs, Transmitter Systems, and other essential tools that facilitate seamless wireless power delivery. This technology is particularly advantageous in environments such as homes, offices, cars, and more, where it offers convenience and reduces cable clutter.
In terms of recent achievements, Energous has continued to solidify its position as a leader in wireless charging. The company has been actively involved in developing partnerships and collaborations to expand its technology's reach and application. For instance, Energous recently announced a collaboration with WiGL, aiming to integrate their technologies for enhanced wireless power solutions.
Financially, Energous Corporation has been focused on growing its market presence and scaling its product offerings. The company's commitment to innovation and its established reputation in the wireless charging industry make it a significant player to watch.
Energous Corporation (NASDAQ: WATT), a pioneer in RF-based wireless power networks, will hold a conference call on May 10, 2023, at 1:30 p.m. PT to discuss its financial results for the first quarter ended March 31, 2023. Interested attendees can join by dialing 1-888-317-6003 in the U.S. or 1-412-317-6061 internationally, using participant entry number 3588640. The call will be available on the company's website and archived until May 2024. Energous leads the wireless power sector with its WattUp® solution, which enables both contact and distance charging, offering substantial improvements over traditional technologies. The company holds the first FCC Part 18 certification for at-a-distance wireless charging, backed by over 200 patents in the field. Forward-looking statements regarding future plans and regulatory challenges are also addressed in the release.
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.
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.
Energous Corporation (NASDAQ: WATT) has partnered with Thinaer to introduce innovative wireless charging solutions for the industrial IoT market. This collaboration aims to enhance efficiency, reduce costs, and improve operational outcomes in manufacturing and warehousing. Thinaer's platform will integrate Energous' wireless power transfer technology, enabling digital twins of operations and identifying inefficiencies through advanced analytics. The partnership addresses growing power demands of IoT devices, promoting a more sustainable solution for industries.
Energous Corporation (NASDAQ: WATT) has announced a priced underwritten offering of common stock and accompanying warrants at $0.40 per share. The offering aims to raise approximately $3.3 million before expenses. This includes 8,250,000 shares of common stock and 8,250,000 warrants, exercisable at the same price for six years. The closing date is expected around March 28, 2023, pending customary conditions. Proceeds will support general corporate purposes. Roth Capital Partners serves as the sole book-running manager for this offering.
Energous Corporation (NASDAQ: WATT) reported its fourth-quarter results for 2022, noting a revenue of approximately $179,000, down from $225,000 in Q4 2021, while full-year revenue rose 12.5% to around $851,000. Total expenses were approximately $6.5 million, significantly lower than the previous year's $9.6 million. The net loss narrowed to approximately $(6.1) million, or $(0.08) per share. Energous is advancing its partnerships, including collaborations with LIXIL for smart sensors and Catapult for a smart football. The company ended the quarter with $26.3 million in cash and no debt, aiming for increased customer deployment and adoption of its wireless power technology in 2023.
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