Energous Holds Rights to All Its IP Barring Pact With Top-Tier CE Firm
Energous maintains exclusive rights to all intellectual property in its technology, with the exception of a 2015 development and licensing agreement with a “top-tier consumer electronics company” described as one of the top revenue-producing CE companies in the world, it said in its annual report filed with the SEC Wednesday.
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It called the 2015 agreement “milestone-based,” saying there are no guarantees its WattUp technology will ever be integrated into that company’s products, but the relationship helped “drive our innovation” and provided engineering services revenue. The purpose of the agreement was to explore application of WattUp wire-free charging receiver technology in various products, it said.
The wireless power company reported Q4 revenue of $56,000 Wednesday and 2018 revenue of $515,000 (see 1902270035).
In describing WattUp, Energous said a proprietary transmitter locates target receivers using Bluetooth and its technology. Software causes the transmitter to generate a “controlled and focused” RF-waveform that creates an RF “energy pocket” to harvest power from the energy pocket. Target devices include smartphones, wearables, fitness trackers, keyboards and mice, cameras, tablets, toys, IoT devices, sensors, remote controls, medical devices and other small electronics that contain embedded batteries.
The transmitter’s software can control the RF waveform as it transmits energy to a moving object, such as a person holding a mobile device, it said. A concept illustration shows a charger embedded in a desk charging various devices nearby: a game controller, phone, smart glasses, smart speaker, laptop PC and mouse.
R&D costs were 64 percent ($32.9 million) of total operating expenses for 2018, expected to increase as Energous concentrates efforts on commercializing the technology. Prototypes and products focus on near- and mid-field charging, and the company is making R&D investments in far-field innovations for low-power charging for “multiple devices within a radius of up to 15 feet.
Energous sees its IP as its most valuable asset, with more than 125 pending applications by Feb. 19. The Patent and Trademark Office and international patent offices have issued 176 patents and notified the company of allowance of 26 more, it said. It will file for patent protection for the most valuable ones, it said.
On regulatory issues, Energous noted its charging technology is subject to regulation by the FCC and comparable agencies worldwide. It has received FCC approval for some technologies in 100 countries, including the U.S. but not in China, Japan or Korea (see 1809050036). Regulatory concerns include whether human exposure to RF emissions is below specified thresholds; higher levels of exposure require separate approval. Obtaining OK for devices using Energous technology is “costly and time consuming, and there can be no assurance that requisite regulatory approvals will be forthcoming,” the company said. Legal or regulatory developments could impose additional restrictions or costs requiring the company to redesign the technology or future products.