Dong-Hwa and Energous Corporation Collaborate on Wire-Free Smartphone Charging
Dong-Hwa to Embed WattUp(TM) Technology in Products to Support Korean OEMs
PLEASANTON, CA -- (Marketwired) -- 05/28/14 -- Energous Corporation (NASDAQ: WATT), creators of WattUp™, a wire-free charging technology that will transform the way people charge and power their electronic devices at home, in the office, in the car and beyond, today announced it has signed a joint development agreement (JDA) with Dong-Hwa, one of the world's largest mobile equipment suppliers, to embed WattUp wire-free charging receivers in mass-produced Dong-Hwa smartphone cases. The deal will make it possible for millions of consumers worldwide to cut the last remaining cord between their handsets and a truly mobile lifestyle.
"Dong-Hwa is very excited to collaborate with Energous Corporation to achieve our joint vision of a wire-free world," said Ji Won Suh, Senior managing director of Dong-Hwa. "We expect that WattUp technology will give our solutions an undeniable advantage over competing products and serves to activate the marketplace for Energous' partners on the transmitter side. Over the years, Dong-Hwa has been a constant presence in the consumer electronics industry and we are thrilled to find ourselves yet again as ambassadors for the world's most disruptive technologies."
"Energous' partnership with Dong-Hwa validates not only WattUp, but our overall licensing strategy," said Stephen R. Rizzone, CEO of Energous Corporation. "Dong-Hwa's smartphone cases are a crucial complement to our WattUp transmitter ODM partnerships and create a holistic wire-free technology package for the device charging industry at large."
Dong-Hwa was established in 1967 to manufacture electrolytic condensers. Since then, the company has has been active in the ever-expanding electronics field, offering development and production of products for a wide range of sectors, including wiring, condensers, rechargeable battery packs, semiconductor probe cards and more. Dong-Hwa is now the second largest battery pack supplier for LG Electronics and is a major supplier of semiconductor probe cards to Samsung Electronics.
About Energous Corporation
Energous Corporation is developing WattUp™, a wire-free charging technology that will transform the way people charge and power their electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary, patent- and trademark-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 delivers meaningful, useable power, at a distance, while allowing users to roam while charging. The result is a wire-free experience that saves users from having to remember to plug in their devices or place them on a mat. Energous will initially license WattUp to the wearable and mobile-accessory markets and will expand to other markets such as Wi-Fi routers and smartphones over time. For more information, please visit www.energous.com.
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 and 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 recently filed registration statement on Form S-1. 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 May 28, 2014