Release Details

WiGL’s second phase of a multiyear contract with the U.S. Department of Defense will utilize Energous PowerBridge products to bring touchless wireless power transfer (tWPT) over distance to production

HAMPTON, Va. & SAN JOSE, Calif.--(BUSINESS WIRE)-- WiGL (StartEngine: WiGL), a developer of touchless wireless charging for IoT devices for wireless power networks, and Energous Corporation (NASDAQ: WATT), a leading developer of RF-based intelligent wireless power networks, today announced the next phase of their partnership to develop and commercialize IoT products that will be wirelessly powered over distance (tWPT Project).

Today’s announcement marks the second phase of the WiGL project, funded early last year by the Air Force Research Lab at the U.S. Department of Defense (DoD), to develop and design tWPT products for military and commercial use. The recently completed first phase of the project involved a proof-of-concept (POC) demonstration by Energous and WiGL of a tWPT network including multiple Energous PowerBridges sending power over-the-air to recharge power banks and IoT lighting devices. In the second phase of the project, Energous’ PowerBridges will continue to provide radio frequency-based (RF) wireless power over distance for WiGL’s tWPT networks.

"Our partnership with WiGL is an additional example of how Energous’ products are enabling wireless power deployment and commercialization,” said Cesar Johnston, President and CEO of Energous. “Energous has been focusing on increasing the number of IoT wireless power network POC’s with an end goal to bring those to production. We are happy to see our technology empowering the creation of highly flexible IoT device designs, while simultaneously addressing the skyrocketing IT costs and environmental hazards associated with disposable batteries and charging cables. This collaboration is a significant milestone in this journey, and we are incredibly excited to embark on this next phase alongside WiGL."

Enabling IoT devices to receive wireless power over distance helps eliminate their dependence on charging cables, open ports or battery doors, greatly reducing potential complications to their physical integrity while ensuring they are consistently and reliably charged at all times. RF-based wireless power networks, an ecosystem of technologies including transmitters and receivers that enable wireless power transmission across any distance for a wide range of applications, also lead to reduced downtime and lower maintenance costs while increasing range of coverage and overall efficiency.

"We are thrilled to announce the successful completion of 8 out of 8 contracted tasks for the esteemed DoD, which has paved the way for our latest accomplishment of a follow-on multi-year contract. This new contract entails the design and delivery of cutting-edge over-the-air touchless Wireless Power Transfer (tWPT) capabilities to the DoD," stated Dr. Ahmad Glover, Founder of WiGL. "By combining Energous' extensive decade-long expertise in the field and regulatory know-how with WiGL's advanced networking solutions, we are poised to bring the first generation of lighting products to life; with follow-on second and third generations of tWPT products to follow. This follow-on contract from the DoD allows us to continue finalizing our inaugural product line expanding into new products and IoT applications for the future. For instance, WiGL is looking forward to launching a consumer tWPT LED lighting system this year."

Energous PowerBridges are designed to drive transformation across the entire IoT ecosystem. These devices are designed not only to have the capability of wirelessly charging multiple devices simultaneously from a distance using RF-based wireless power, but also to function as data links for connected devices, enabling them to communicate valuable data and insights back to the cloud.

To learn more about Energous, please visit Energous.com or follow the company’s corporate pages on Twitter, Facebook and LinkedIn.

To learn more about WiGL, please visit www.startengine.com/WiGL or follow the company on Instagram, Facebook, Twitter and LinkedIn.

About Energous Corporation
Energous Corporation (NASDAQ: WATT) has been pioneering wireless charging over distance technology since 2012. Today, as the global leader in wireless charging over distance, its networks are safely and seamlessly powering its customers’ RF-based systems in a variety of industries, including retail, industrial, healthcare and more. Its total network solution is designed to support a variety of applications, including inventory and asset tracking, smart manufacturing, electronic shelf labels, IoT sensors, digital supply chain management, inventory management, loss prevention, patient/people tracking and sustainability initiatives. The number of industries and applications it serves is rapidly growing as it works to support the next generation of the IoT ecosystem.

Energous Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other similar terms. Examples of our forward-looking statements in this release include, but are not limited to, our statements about the success of our collaborations with our partners, the future of the global wireless charging industry and our technology and its expected functionality. Factors that could cause actual results to differ from current expectations include: uncertain timing of any necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent annual report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequently filed quarterly reports on Form 10-Q, as well as any other documents that may have been subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous’ views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law.

About WiGL
By partnering with pioneers in the wireless power industry, WiGL has emerged as the umbrella technology creating the future for smart, touchless, wireless power networks. WiGL, Wireless-electric Grid Local Air Networks (pronounced “wiggle”), is transitioning new technologies developed for the Department of Defense to commercial markets. WiGL is on a mission to use over-the-air targeted wireless power networks to help recharge the Internet of Things (“IoT”). WiFi gets you wireless internet, WiGL gets you wireless power networks.

This Reg. A+ offering (bit.ly/3vTfufH) is made available through StartEngine Primary, LLC, member FINRA/SIPC. Please read the Risk Factors (bit.ly/367hpCM) disclosure before investing. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230808868882/en/

Energous Public Relations:
SHIFT Communications
energous@shiftcomm.com

Energous Investor Relations:
Padilla IR
IR@energous.com

WiGL:
Marie Wise
info@wiglinc.com

Source: Energous Corporation

Released August 8, 2023