Deal Accelerates the Development of an Ecosystem of WattUp-Enabled Devices, Ensuring Quality and Consistent Implementation Using Limited Energous Resources
SAN JOSE, CA — (Marketwired) — 03/29/16 — Energous Corporation (“Energous” or “the Company”) (NASDAQ: WATT), the developer of WattUp®, a revolutionary wire-free charging technology for mobile and IoT devices that provides over-the-air contained power at a distance, today announced it has signed a definitive development agreement with Pegatron, a worldwide leader in electronic and computing DMS (Design and Manufacturing Service). This agreement names Pegatron as a non-exclusive partner to license the WattUp technology in both transmitter and receiver designs.
With equity of U.S. $2.7 billion, Pegatron boasts a diversified product line, including motherboards, desktop PCs, notebooks, broadband, wireless systems, game consoles, networking equipment, set-top boxes, multimedia, LCD TVs, and more. The collaboration gives Energous a leading, tier-1 OEM/ODM partner in Asia that can integrate Energous WattUp technology into applicable products in the Pegatron portfolio. Leveraging Pegatron resources will ensure quality and consistent implementation of the WattUp technology and accelerate the development, production and availability of a broader ecosystem of WattUp-enabled devices.
“We are extremely pleased to add Pegatron, a world-class tier-1 OEM/ODM, to our expanding list of WattUp licensees,” said Stephen R. Rizzone, President and CEO of Energous Corporation. “2016 is shaping up to be a breakout year for Energous as we continue to advance our key strategic partnership, focus on the Mini WattUp transmitter as our quickest path to revenue and ultimately execute on our long-term strategy of delivering wire-free power at a distance. Partnering with top-tier companies like Pegatron is a key part of our strategy to build out our ecosystem and further solidify our market-entry late this year, earlier next year.”
WattUp is a revolutionary, award-winning wire-free charging solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router at a distance of up to 15 feet. Not only does the WattUp ecosystem enable full mobility while charging in a home, office or retail environment, Energous has an extensive partner portfolio and more than 250 patent filings protecting its technology platform. To learn more about Energous, please visit www.Energous.com.
About Pegatron Corporation
Pegatron is a leading DMS (Design and Manufacturing Service) company with extensive experience and proven capabilities in design innovations, product development, vertical integration and after-sale services. Renowned for its solid foundation of research and development in its core technologies, Pegatron boasts a diversified product line including server, notebook PCs, desktop PCs, tablets, motherboards, broadband products, smartphones, game consoles, etc. With worldwide manufacturing and service sites, Pegatron offers innovative service to customers at various locations. The Company also places great emphasis on the development of both software and hardware technologies to provide customers with total solutions and high value-added services. For more information, please visit: http://www.pegatroncorp.com.
About Energous Corporation
Energous Corporation is developing WattUp®, an award-winning wire-free charging technology that will transform the way people and industries charge and power their electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary, patent-pending solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router. WattUp differs from current wireless charging systems in that it will deliver contained, useable power, at a distance, to multiple devices, resulting in a wire-free experience that saves users from having to remember to plug in their devices or place them on a mat. For more information, please visit www.energous.com, or follow Energous on Twitter or Facebook.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. All statements in this release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Source: Energous Corporation
Released March 29, 2016