Energous Corporation Joins Power Matters Alliance
Energous, the Creators of WattUp(TM) Wire-Free Charging Technology, Also Will Chair PMA's Newly-Formed Uncoupled Power Working Group
SAN JOSE, CA -- (Marketwired) -- 12/03/14 -- At the year-end Power Matters Alliance (PMA) Member Conference in Miami today, it was announced that Energous Corporation ("Energous" or "the Company") (NASDAQ: WATT), has joined the Alliance and will chair the newly formed Uncoupled Power Working Group (UPG).
UPG is chartered with the leadership and development of standardized specifications for wireless power transfer based on non-magnetic technologies such as RF, ultrasound and laser that deliver power at a distance of up to 10m (30 feet). The PMA will also manage the Certification program ensuring that products developed based upon PMA UPG specifications will be interoperable and deliver a compelling user experience to consumers. The UPG plans to work at an accelerated pace with expectations that products based upon a PMA approved specification could enter the market as early as Q4, 2015.
"Energous is pleased to join PMA in this leadership role to develop specifications for delivering power at a distance while allowing complete mobility and interoperability," said Stephen R. Rizzone, Chairman, President and CEO of Energous Corporation. "Helping to lead the consolidation and standardization of wireless power is an important part of our mission to make wire-free charging as ubiquitous as Wi-Fi."
"We are delighted to welcome Energous to PMA," said Ron Resnick, President, Power Matters Alliance. "Their contributions and leadership will be a welcome addition to the Alliance. At PMA, we are focused on creating the industry standard for wireless power, which includes tightly and loosely coupled technologies and the new field of uncoupled power transfer."
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About Power Matters Alliance
Founded in 2012, PMA is a global, not-for-profit standards organization chartered to ensure global interoperability for wireless charging. The PMA board includes Duracell, Starbucks, Powermat Technologies, AT&T, Flextronics Power and the US Government's Energy Star (non-voting). PMA-compatible wireless charging spots have been installed at leading coffee shops, airports, stadiums, restaurants, gyms and more and PMA-Certified products are available at leading retailers. PMA membership is open to all, and its technical specifications are available to all members at www.powermatters.org.
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.
Source: Energous Corporation
Released December 3, 2014