JT Group Invests in Energous and Becomes Preferred Technology Solutions Partner for IoT Connectivity
JT Group to Develop Reference Designs for Cellular Connectivity for IoT Applications with Energous Transmitters
SAN JOSE, CA -- (Marketwired) -- 01/03/17 -- Energous Corporation (NASDAQ: WATT), the developer of WattUp®, a revolutionary wire-free charging technology that provides over-the-air power at a distance, today announced a strategic partnership with JT Group, a Tier-1 telecommunications carrier offering a full suite of products including mobile broadband and fiber-optic broadband solutions. With operations in over 100 countries, JT Group is making a strategic $5 million investment in Energous and will be the preferred backhaul and cloud connectivity partner for Internet of Things (IoT) customers that leverage Energous' WattUp technology.
As the number of connected devices continues to grow exponentially, connectivity is a crucial component for the overall ecosystem. Short-range radio technologies like WiFi and Bluetooth, in combination with wide-area networks (WANs) using cellular and LoRa, all combine for increased cloud-connectivity and data analytics for Energous' cloud-connected management software.
"JT is delighted to partner with Energous. We believe that Energous' highly innovative technology will be a key enabler in the Internet of Things (IoT) and we are excited to be working with Energous to maximize customers' benefits from the adoption of their technology," said Graeme Millar, CEO of JT Group.
"IoT is a priority market for Energous and this partnership with JT Group satisfies the industry need for cellular and other connectivity for IoT devices," said Stephen R. Rizzone, president and CEO of Energous. "The partnership with a Tier-1 telecommunications carrier like JT Group represents strong validation for Energous as we continue to expand our IoT ecosystem and the breadth of WattUp-enabled consumer products, the first of which will be available in early 2017."
Energous will be showcasing the WattUp technology at The Hard Rock Hotel Las Vegas during CES 2017.
For more information on JT Group's IoT connectivity solutions, visit http://www.jtglobal.com/.
About Energous Corporation
Energous Corporation is the developer of WattUp® -- an award-winning, wire-free charging technology that will transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. WattUp differs from current wireless charging systems in that it delivers contained power, at a distance, to multiple devices -- thus resulting in a wire-free experience that saves users from having to remember to plug in their devices. For more information, please visit Energous.com, or follow Energous on Twitter and Facebook.
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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." Examples of forward-looking statements include, among others, statements we make regarding expectations for market developments, technological advances, anticipated results of our development efforts, and the timing for receipt of required regulatory approvals and product launches. 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. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to develop a commercially feasible technology; receipt of necessary regulatory approvals; our ability to find and maintain development partners and licensees, market acceptance of our technology, the amount and nature of competition in our industry; our ability to protect our intellectual property; and the other 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.
About JT Group
JT, (formerly Jersey Telecom), is a full-service Tier-1 global consumer and business enterprise provider with over 120-year's heritage. Headquartered in the British Channel Islands, JT offers its domestic and global customer base a wide range of world-class innovative communication services and solutions. Located across 11 global locations, JT employs over 600 staff providing products and services to over 1 million global consumer subscribers and 2,177 active business customers.
JT has and continues to invest heavily in advanced communication technology. Investment in its state of the art Gigabit point-to-point fibre optic network has elevated its on-island network to rank 3rd globally for fibre access. In M2M solutions, JT is now one of the leading IoT global communication companies in the world. JT's vision is to become the partner of choice for global telecommunications innovation and has built long-standing partnerships with some of the World's leading communications businesses to deliver the products and services expected from a cutting-edge Tier 1 telecoms operator.
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Source: Energous Corporation
Released January 3, 2017