RF Wireless Charging 'Ready for Commercial Deployment' Says Energous CEO; Stock Up
Energous’ WattUp RF wireless charging technology is “ready for commercial deployment,” said CEO Steve Rizzone on an earnings call Wednesday. The company’s wireless charging sends contained energy via radio waves to paired devices containing matching receivers, which convert the radio…
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waves into DC power that charges a receiver’s battery. WattUp uses Bluetooth Low Energy for communication and the 5.850 GHz-5.875 GHz band for power transmission. It expects to receive the first orders for “significant quantities” of chipsets before the end of Q2, with initial orders through Dialog Semiconductor, which bought a $10 million stake in November. Mass production of WattUp-enabled consumer products by customers will begin in Q3, with FCC certification processes for the first WattUp-enabled near-field and mid-field consumer products to coincide with the first customer shipments late this year, Rizzone said. The Q1 net loss was $12.5 million on revenue of about $575,000, the company reported. Shares closed up 14 percent on Thursday at $14.91.