Energous Receives Multiple Orders from Multinational Retailer for Grocery Distribution
Energous Corporation (NASDAQ:WATT), a pioneer in scalable, over-the-air wireless power networks (WPNs), today announced it has received multiple orders from a Fortune 10 multinational retailer for the Energous 2W PowerBridge transmitter systems. Energous recently completed a successful proof of concept (PoC) project for the retailer: a comprehensive WPN that delivers always-on, data-rich asset tracking capabilities for improved grocery and store supply chain visibility and control. These orders for the Energous transmitter system are part of the initial implementation of a nationwide infrastructure optimization project and will be the foundation of a new WPN, beginning with modernization and upgrades in both a grocery distribution center and 170 grocery stores.
The grocery distribution supply chain is complex with many stakeholders—producers, manufacturers, transporters, and retailers—handling a wide range of products, from perishable food items to non-perishable dry goods. Digitization of this critical supply chain is transforming grocery store distribution and improving food delivery, with a growing number of retailers using Internet of Things (IoT) technologies to increase visibility, control, and automation as these products are transported to local stores.
The Energous 2W PowerBridge transmitter systems will deliver continuous access to wireless power, over-the-air and at distance, while enabling a constant stream of real-time data for all IoT-enabled devices in the supply chain, such as sensors and tags. This will enable the retailer to digitally monitor and optimize their grocery distribution network and proactively address shipment issues as they arise, to ensure the right products are at the right stores at the right times.
"Ensuring the highest level of food quality and freshness requires a sophisticated and efficient cold chain, and retailers increasingly require real-time access to actionable data and insights, such as temperature and location, with enhanced levels of granularity," said Mallorie Burak, Interim Principal Executive Officer and CFO, Energous. "Energous wireless power solutions can help transform supply chain management applications, including cold chain monitoring, resulting in improved safety, freshness, and compliance by leveraging end-to-end, real-time asset and inventory visibility."
About Energous Wireless Power Solutions
Energous PowerBridge transmitter systems are the backbone of WPNs that allow connected devices such as sensors and tags to continuously provide critical enterprise data to cloud networks—at distance and without wires, batteries, or cables—ensuring they are reliably charged at all times. These transmitter systems act as data links for IoT-enabled devices, enabling them to efficiently communicate valuable data and insights back to the cloud, and allowing companies to analyze, optimize, and improve every part of their supply chain operations in real time.
The Energous 2W PowerBridge transmitter system is designed for next-generation, enterprise IoT applications, providing a WPN that delivers an always on, over-the-air automated energy flow that optimizes IoT device performance. The system is well suited to meet the increasing demand for power over distance, which is crucial for applications where asset tracking and monitoring across multiple zones is critical to operations, including supply chain visibility, cold chain monitoring, fleet management, and temperature and humidity monitoring.
The Energous 2W PowerBridge transmitter system combines two high-efficiency power amplifiers with a System-on-Chip (SoC) RF transmitter to create a wireless charging infrastructure that enables continuous data streams from mobile IoT devices into business critical applications. For more information, visit www.energous.com.
About Energous Corporation
Energous Corporation (NASDAQ:WATT) is pioneering scalable, over-the-air (OTA) wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company's wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management—from retail sensors, electronic shelf labels, and asset trackers, to air quality monitors, motion detectors, and more. For more information, visit www.energous.com or follow on LinkedIn.
Forward-Looking Statements
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 similar terms. Examples of forward-looking statements in this release include but are not limited to statements about the future of the global wireless charging industry and statements about our technology and its expected functionality. Factors that could cause actual results to differ from current expectations include: uncertain timing of 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, and 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 in 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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