Energous Corporation Signs JDA With Innovation First, Creators of HEXBUG(R), to Develop Reference Designs Utilizing WattUp(TM) Wire-Free Charging Technology
SAN JOSE, CA -- (Marketwired) -- 12/09/14 -- Energous Corporation ("Energous" or "the Company") (NASDAQ: WATT), the developer of WattUp™, a disruptive wire-free charging technology for electronic devices that provides power at a distance with complete mobility under full software control, today announced a joint development agreement (JDA) with Innovation First International, creators of the wildly popular and internationally recognized HEXBUG® brand, to develop designs utilizing WattUp technology in a range of Innovation First products.
"Imagine a world where you never had to change another battery in a toy, or recharge it; isn't that an exciting possibility?" commented Tony Norman, Co-Founder, President and CEO of Innovation First. "We are intrigued by that potential, which is why we are partnering up with the Energous team to explore the possibilities with WattUp technology that result from our joint collaboration."
"Energous is pleased to enter this JDA with Innovation First because it validates the sheer number of use cases for WattUp," said Stephen R. Rizzone, CEO of Energous Corporation. "The popularity of HEXBUG will showcase WattUp's value to the mass market and serve as a proof point for the inherent value of a mature WattUp ecosystem."
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, allowing users to roam while charging. The result is a true wire-free experience that saves users from having to remember to plug in their devices or place them on a mat.
About HEXBUG and Innovation First:
HEXBUG is a brand and product line developed, distributed, and marketed by Innovation First Labs, Inc., a wholly owned subsidiary of Innovation First International. Innovation First is a high-tech robotics and engineering company at the bleeding edge of consumer technology. HEXBUG was designed as a way to give children a positive experience with robotics at a young age. People are drawn to the HEXBUG brand for the products' fascinating behavior, intelligent bug-like attributes and eye-catching packaging.
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, 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.
Finn Partners for Energous Corporation
Phone: (415) 249-6775
Source: Energous Corporation
Released December 9, 2014