Hanbit Signs Wire-Free Charging JDA with Energous Corporation
Hanbit expected to develop first wire-free transmitter with WattUp™ technology
PLEASANTON, Calif.-- 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 Hanbit Electronics Co Ltd, a provider of total wireless solutions to home and small-business customers, from Wi-Fi phones to 3G and LTE routers. With extensive design and manufacturing experience, Hanbit intends to embed WattUp in transmitter solutions for home, office and automotive applications and expects to demonstrate products at CES January 2015.
“WattUp offers Hanbit a level of differentiation that is simply unmatched in the market at this time,” said SY LEE, Chairman of Hanbit Electronics. “Our plan is to incorporate Energous’ patented WattUp technology into a series of transmitter solutions. Hanbit will then partner with leading global OEM partners in the receiver space to create an ecosystem that will enable consumer and enterprise customers to experience true wire-free power. Our collaboration with Energous Corporation therefore ushers in what is truly the next era of possibility and performance for the mobile and consumer electronics industries.”
WattUp consumer transmitters deliver power via a roaming 3D pocket of energy up to 15 feet in any direction to WattUp receivers. The first WattUp-licensed products will deliver energy to 1-24 devices depending on the range and power required. WattUp’s software app allows users to control the amount of power sent to each device.
“Energous’ JDA with Hanbit is in line with our overall licensing strategy and will contribute to WattUp being rapidly distributed on a global scale,” said Stephen R. Rizzone, CEO of Energous Corporation. “Hanbit will also serve as a strong example for others evaluating WattUp’s suitability for their own product portfolios. We are therefore honored to be in partnership with Hanbit and look forward to a longstanding and mutually beneficial relationship.”
About Hanbit Electronics
Hanbit Electronics, a wholly owned subsidiary of Korea’s Sejin Electron, Inc., offers total wireless solutions to home and small-business customers. The company offers a broad range of products, from Wi-Fi phones to 3G and LTE routers, at competitive pricing and with cutting-edge technology, features and functionality. Hanbit Electronics focuses on the last mile of connectivity to broadband internet infrastructure, allowing users to utilize its user friendly voice over internet protocol (VoiP) Wi-Fi phones, which are linked through its own access points (APs) to interconnect its own AP PBX. For more information, please visit www.sejin.com.
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 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.
Ty Sheppard, 415-249-6775
Source: Energous Corporation
Released May 14, 2014