SAN JOSE, Calif.–(BUSINESS WIRE)–Energous Corporation (Nasdaq: WATT), a leading developer of RF-based charging for wireless power networks, today announced Sekorm as a value-added partner in China. Through its partnership with Sekorm, Energous gains access to more industrial Internet of Things (IIoT) design communities, marketing and sales capabilities, and increased awareness of its award-winning WattUp wireless power network technology in China. Energous recently announced approval by the Ministry of Industry and Information Technology (MIIT) in China for IoT applications. Energous’ WattUp PowerBridge supports multiple next-generation applications including smart tags, electronic shelf labels, sensors, asset trackers and more.
“China is the world’s most populous country, second-largest economy and a top country for IoT device deployment, making it an important market for Energous and our WattUp wireless power network technology,” said Cesar Johnston, CEO at Energous. “As a value-added partner, Sekorm will help open up new markets for Energous, allowing more potential customers to engage with our WattUp technology and expanding the global reach of IoT wireless power networks.”
IDC predicts that, by 2024, China will surpass the U.S. to become the largest IoT market in the world, spending over $300 billion annually on IoT and accounting for over 25% of all global spend on the sector. IDC also projects the global IoT ecosystem to grow more than threefold over the next few years, from 12 billion devices today to 39.3 billion by 2025. These devices will demand reliable power to function. Most, however, are fueled by batteries, which don’t all lose power at the same time, or by cumbersome charging cables and cords that present logistical nightmares creating hidden costs to IT teams and large-scale IoT deployments. Energous’ 1W WattUp PowerBridge, approved in China for unlimited distance transmission, solves these IoT power challenges.
“China represents a massive technology market and one where IoT deployments in industrial settings are rapidly expanding, bringing with them more need for reliable power,” said Calvin Xiao, CEO at Sekorm. “For years, Energous has been a leading player in the wireless power networks space and we’re excited to become a value-added partner and source for their technology in China.”
Shenzhen-based Sekorm has 30 years of experience helping hundreds of global companies penetrate, promote and distribute their products to more than 6,000 innovative Chinese hardware customers across many IoT applications. Through the Sekorm eService platform, Energous will reach additional IoT design communities, extend market and sales coverage including customer trainings, and expand its WattUp technology more efficiently through Sekorm’s networks in China.
About Energous Corporation
Energous Corporation (Nasdaq: WATT) is the Wireless Power Network global leader. Its award-winning WattUp® solution is the only technology that supports both contact and distance charging through a fully compatible ecosystem. Built atop fast, efficient, and highly scalable RF-based charging technology, WattUp is positioned to offer improvements over older, first-generation coil-based charging technologies in power, efficiency, foreign device detection, freedom of movement and overall cost for industrial and retail IoT, smart homes, smart cities and medical devices. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs, and provides worldwide regulatory assistance, a reliable supply chain, quality assurance, and sales and technical support to global customers. The company received the world’s first FCC Part 18 certification for at-a-distance wireless charging and has been awarded over 200 patents for its WattUp wireless charging technology to-date.
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 future of the global wireless charging industry, statements based on third parties’ market analyses, statements with respect to the success of our collaborations with our partners, statements with respect to the potential total addressable market for our current technologies and future products and statements with respect to expected company growth. 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.
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