17 Jun 4 Reasons Why You Should Put Energous Corp on your Watchlist
Energous Corporation, (NASDAQ: WATT), formerly known as DvineWave Inc, is developing a cutting-edge wireless system that aims to redefine the manner in which wireless charging takes place. The Company is focused on creating a next-generation ecosystem that enables charging through at-contact or even over distances of up to 15 feet.
A Potentially Disruptive Technology
WattUp®, is a RF-based technology that has the potential to provide contact-based and over-the-air wireless charging for electronic devices. The technology has won multiple awards and has the potential to disrupt the way wireless charging is seen and can be applied to various scenarios, be it home, office or while on the move. The technology provides great improvement over conventional charging solutions as it offers the dual benefit of charging by contact or through a distance and addresses major issues such as orientation and foreign object detection. In addition, the technology is fully scalable and can be used to charge a multitude of devices ranging from smartphones, smart watches, earbuds, fitness trackers among others.
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With Wireless Charging 2.0 as its mission, the Company is also engaged in providing systems solutions, such as silicon-based wireless power transfer (WPT) technologies, in the form of silicon chips, antennas and software, which can be customized to suit user preferences and requirements. Energous has to its credit, the world’s first FCC Part 18 certification for its innovative at-a-distance wireless charging and has built a robust patent portfolio of more than 231 patents, both granted and pending, covering its WattUp wireless charging technology.
Energous Corporation (NASDAQ: WATT)
Market Cap: $ 182.10M; Current Share Price: 2.94 USD
Data by YCharts
A Billion Dollar Market Opportunity
IoT solutions are becoming extremely crucial as more and more devices use the internet to stay connected and store information online. According to an estimate by Markets and Markets, by 2020 there would be over 25 billion IoT connections and this offers a significant opportunity for organizations to improve the delivery of their products and services. The rapid adaptation of IoT is changing the manner in which businessess operate by not only improving outcomes but also reducing costs, time and enhancing efficiency and security.
According to the same report, the global market for IoT solutions and services will reach USD 278.9 billion by 2024, growing at a CAGR of 14.9%, from USD 139.3 billion in 2019, driven by the rapid advancements in wireless technology and increasing decentralization. The growth in the market will be fueled by the growing demand for internet of things devices that are interconnected such as connected cars, smart cities, wearable devices, smart homes to name a few.
All of these require charging to stay connected round-the-clock. Wireless charging is fast emerging as a convenient and reliable means to charge a variety of electrical devices. The technology eliminates the need for physical cables and peripherals and is a boon for people who are constantly on the move and need a number of devices to be charged such as smartphones, smart glasses, fitness trackers and other wearables.
The field of wireless charging is witness to constant innovation and evolution. Wireless RF energy base chargers are addressing the challenges of providing fast and efficient charging systems. According to a report by Allied Market Research, the global wireless charging market is projected to reach $40.24 billion by 2027, growing at a CAGR of 22.2%, from $6.51 billion in 2018.
A Competitive Product / Technology
Energous’s offerings consist of Receivers that are very small and can be easily incorporated into a wide variety of electronic devices. The use of common receiver technology enables WattUp to create a comprehensive wireless ecosystem that fosters interoperability. WattUp can be embedded into computer accessories, Digital Imaging devices, medical instruments and into inventory scanners, RFID Tags and Industrial sensors among others.
Energous’s WattUp Near Field transmitter technology lends itself to wide scale adoption in various form factors and can offer up to 15 watts of charge. The technology can support single or multi-device charging on a single pad and allows for customization in terms of different levels of complete authorization and prioritization capabilities.
The Company’s transmitters can be categorized into Near Field, Mid Field and Far Field, which are fully software controlled. The software gives users a great degree of control on making key decisions such as device control, battery level monitoring, lost item tracking, charging schedules to name a few.
Energous designs and delivers products such as DA2210 and DA2223, a WattUp wireless power receiver; DA4100, an integrated wireless power transmitter, DA3210, a high efficiency power amplifier and EN7410M, a wireless charging module. Furthermore, the Company also delivers antenna, software and hardware systems.
A Strong Portfolio of Strategic Partnerships
In February 2021, the Company announced a partnership with e-peas, a developer of ultra-low power semiconductor technology, to develop an evaluation board that uses e-peas’ power management IC technology with Energous’ radio frequency (RF) solution. The combination is aimed at advancing at-a-distance wireless charging solutions for industrial IoT applications, smart buildings and electronic displays and is focused on addressing concerns related to battery life and maintenance logistics.
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Commenting on the partnership, Cesar Johnston, COO and executive vice president of Energous Corporation stated
“The results of this joint effort between Energous and e-peas will be to introduce the capabilities and advantages of a small form factor, highly integrated solution that will enable charging distances greater than one meter, eventually extending out to several meters. The core WattUp technology supporting this evaluation board is an outgrowth of the common architecture we have developed, which emphasizes scalability for all chip, hardware, software and antenna elements of the technical solution.”
The partnership aims to integrate technologies to create an evaluation board that offers functionalities such as a DA2210 WPT rectifier, E-peas AEM30940 harvesting PMIC, Supercap or rechargeable lithium battery support and Smartbond DA14531-based BLE SoC among others.
Energous has also entered into a partnership with Thin Film Electronics ASA, to enable the integration of Energous WattUp RF wireless charging and Thinfilm solid-state lithium microbattery technology in to applications that require ultra-thin batteries such as hearing devices, wearables and connected sensors. The companies will make this technology available to customers in markets where there is demand for ultrathin batteries that offer convenience and reliability.
The Company has also tied up with American Equus, an equine product company, to create the American Equus EQx VitalsSensor, a wirelessly charged equine health tracking sensor that is incorporated with WattUp wireless charging technology. The device is designed for the professional horse racing market and can track vital statistics such as leg position, heart rate and temperature. The device was originally developed by 28Gorilla, which entered into a partnership with Energous in May 2020.
Energous has successfully built multiple such partnerships with companies such as EarTechnic, NewSound Xentris Wireless Grepow battery to name a few. The Company is a part of the AirFuel Alliance, a premier global authority on wireless power technology and standards and chairs two working groups, along with being a part of the AirFuel Alliance’s Board of Directors.
Key Takeaways
Energous has a breakthrough technology that can transform the manner in which charging is viewed and conducted today. The Company’s technology offers distinct advantages such as both near field and at distance charging, simplicity in implementation and an extremely robust design that can overcome the limitations of conventional wireless charging options.
The Company is well poised to make the most of the Wireless Charging 2.0 Opportunity as it has extensive experience from technology development addressing various frequencies, including path loss. Energous has worked closely with the FCC and other key regulatory bodies, which gives it enough knowledge and experience to advance its certifications and standards in the future.
Energous has a strong global regulatory advantage with a network of experts that drive international approvals, enabling the company to score wireless charging 2.0 approvals in international markets. The Company extends support to customers and partners in obtaining the requisite approvals for the adoption of the technology. The Company has built strong partnerships and Tier 1 & Tier 2 customer relationships with companies such as SK Telesys, PiBEX, Primax among others.
The Company has a robust patent portfolio with over 228 issued patents and more than 65 pending, which act as a significant barrier to entry and provide protection for the company’s technology. The IP protects 5 key areas of technology namely processing algorithms, antenna designs, transmitters and receiver ASIC’s, hardware and software controls as per the Company. The technology is approved to ship in 112 countries including the E.U, Japan and Europe.
Energous believes that it has the potential to target a 5-billion-unit opportunity encompassing Hearables, wearables, smart glasses, medical sensors, home IOT to name a few. In addition, its technology can be applied to harvesting / Industrial IoT, military, public safety and security, Mobile phones, portable computing and gaming.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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References
https://www.businesswire.com/news/home/20210225005087/en/
https://www.businesswire.com/news/home/20210225005085/en/
https://www.businesswire.com/news/home/20210106005174/en/
https://www.alliedmarketresearch.com/wireless-charging-market
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