SAN JOSE, Calif.--(BUSINESS WIRE)--Energous Corporation (Nasdaq: WATT), the developer of WattUp®, a revolutionary wireless charging 2.0 technology, today announced that its partners PiBEX, an R&D subsidiary of POSCO Worldwide, and SK Telesys are developing an ultra-wideband (UWB) tracking tag for POSCO, a Korean-based global steel manufacturer, which will include integration with the WattUp RF wireless charging technology. The POSCO UWB tracking tag enables location-tracking for security and employee safety purposes within industrial factories.
“PiBEX and POSCO’s interest in our WattUp technology for its UWB tracking tag represents a step forward for the company into the industrial market. Our WattUp wireless charging technology is especially applicable for industrial applications because of its scalability, small footprint and our ability to charge both at contact as well as at-a-distance,” said Stephen R. Rizzone, president and CEO of Energous Corporation. “We are proud to have a worldwide leader in the steel-making industry integrating our technology to ease the charging of devices they rely on 24/7 and bring greater efficiency and safety to the industrial workplace.”
PiBEX R&D Enterprise was established in 2013 with the aim of enhancing the commercial completion of R&D results and creating market profitability based on the ownership of POSCO researchers. POSCO, PIBEX’s parent company, is known for having the first integrated steel mill in Korea and today produces 42 million tons of crude steel a year. The company has grown to become a global business with production and sales in 53 countries around the world.
“At POSCO, we are committed to corporate citizenship and continuously bringing world-class innovation and technology to the steel-making industry. Through our partnerships, we have been able to significantly grow our business and become the most competitive solution provider for steel-making in the world,” said Myung-sik Chun, CEO at PiBEX. “We are working with SK Telesys and Energous to design and build a UWB tracker device which not only stands up to the elements through a waterproof design, but also brings charging convenience, and most importantly helps manage risk within our factories. Not only does WattUp ease charging and fit our device’s unique design, but we are also excited about Energous’ roadmap for at-a-distance charging to complete the wireless charging ecosystem.”
About Energous Corporation
Energous Corporation (Nasdaq: WATT) is leading the next generation of wireless charging – wireless charging 2.0 – with its award-winning WattUp® technology, which supports fast, efficient contact-based charging, as well as charging at a distance . WattUp is a scalable, RF-based wireless charging technology that offers substantial improvements in contact-based charging efficiency, foreign object detection, orientation freedom and thermal performance compared to older, coil-based charging technologies. The technology can be designed into many different sized electronic devices for the home and office, as well as the medical, industrial, retail and automotive industries, and it ensures interoperability across products. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs. These include innovative silicon chips, antennas and software, for a large variety of applications, such as smartphones, fitness trackers, hearables, medical sensors and more. Energous received the world’s first FCC Part 18 certification for at-a-distance wireless charging, and the company has 215 awarded patents/allowed applications for its WattUp wireless charging technology to-date. For more information, please visit Energous.com.
Safe Harbor Statement
This press release contains forward-looking statements that describe our future plans and expectations. These statements generally use terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or similar terms. Examples of our forward-looking statements in this release include our statements about technology developments, partner product development and wireless charging innovation. Our forward-looking statements speak only as of this date; they are based on current expectations and we undertake no duty to update them. Factors that could cause actual results to differ from what we expect 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 and subsequent quarterly reports on Form 10-Q, in evaluating our forward-looking statements.