Partnership aims to enable complete wireless
power deployments, integrating Energous PowerBridges and Veea's
Edge Platform with Wiliot IoT Pixels to enable the next generation
of real-time asset tracking applications
Energous Corporation (NASDAQ: WATT), a leading developer of
RF-based charging for wireless power networks, and Veea Inc., a
leader in integrated smart edge connectivity, computing and
security technologies, have joined forces to combine wireless power
and edge computing for real-time asset tracking in rapidly growing
IoT sectors. This collaboration aims to empower industry leaders to
seamlessly integrate Energous' PowerBridge technology, Wiliot's IoT
Pixel tags, and Veea's Edge Platform in a comprehensive wireless
power ecosystem that enables reduced installation costs, lower
latency, and improved bandwidth efficiency, all while enhancing
security, privacy, and reliability.
As IoT expands, particularly in the realm of asset tracking, the
need for cost-effective and dependable solutions is paramount for
supply chain optimization. Asset tracking is a multifaceted
ecosystem, requiring technologies that can uniquely identify items,
from finished goods to raw materials, and offer real-time inventory
insights. Implementing such comprehensive asset-tracking systems
involves a concerted effort from various stakeholders, notably
system component suppliers and integrators. This collaboration
between Energous and Veea strives to bring together Energous'
advanced wireless power technology and Veea's Edge Platform, which
integrates connectivity, communication, and edge computing. This
partnership is intended to offer customers a unique avenue for
enhancing operational efficiency, significantly reducing
operational and capital expenditures, lowering the total cost of
ownership, and boosting return on investment.
As part of our commitment to innovation and practical
application, we are pleased to announce that our combined
technologies were demonstrated in a proof of concept at the
AT&T Mexico Innovation Lab in Mexico City last month that was
designed to demonstrate the real-world relevance and transformative
potential of the solutions offered by Energous and Veea in
expanding the IoT landscape.
“Driven by technological advancements in connectivity, data
analytics, and new fields such as wireless power and AI/ML, the IoT
industry is experiencing a significant paradigm shift. As data
processing becomes more relevant, more and more customers are
facing cost challenges due to the high quantity of data being
generated, processed and stored,” said Cesar Johnston, CEO of
Energous. “Our partnership with Veea is critical as we believe edge
computing is key to addressing these growing challenges.”
“Veea is thrilled to partner with Energous to improve inventory
controls and asset tracking use cases by utilizing the connectivity
capabilities of Veea’s Edge Platform paired with Energous
PowerBridges and Wiliot IoT Pixel tags. Improving inventory
controls and speed to market for inventory fulfillment while
reducing supply chain logistic complexity provides tremendous value
for distribution centers, logistical providers and ultimately saves
money for the end consumer,” says Mark Tubinis, Veea’s CCO. “With
the explosive growth in manufacturing facilities and supply chain
logistics, having successfully demonstrated the combined solution
as part of AT&T Mexico’s Innovation Lab, Veea and Energous are
positioned as leaders in Enterprise IoT solutions.”
This joint solution will include Energous PowerBridges along
with Wiliot IoT Pixel tags - with Veea Edge platform solution
aiming to provide system integrators, IoT solution developers,
cloud and network service providers, and other ecosystem
participants with better tools and building blocks that accelerate
time to market, reduce risk and drive solid returns on
investment.
About Energous Corporation
Energous Corporation (NASDAQ: WATT) has been pioneering wireless
charging over distance technology since 2012. Today, as the global
leader in wireless charging over distance, its networks are safely
and seamlessly powering its customers’ RF-based systems in a
variety of industries, including retail, industrial, healthcare and
more. Its total network solution is designed to support a variety
of applications, including inventory and asset tracking, smart
manufacturing, electronic shelf labels, IoT sensors, digital supply
chain management, inventory management, loss prevention,
patient/people tracking and sustainability initiatives. The number
of industries and applications it serves is rapidly growing as it
works to support the next generation of the IoT ecosystem.
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 other similar terms. Examples
of forward-looking statements in this release include, but are not
limited to, our statements about the success of our collaborations
with our partners, statements about our technology and its expected
functionality, and statements with respect to the future of the
global wireless charging industry and our technology. 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 subsequent quarterly reports on Form
10-Q, as well as in other documents that may be 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.
About Veea
Veea® is redefining and simplifying secure edge computing in a
way that improves application responsiveness, reduces bandwidth
costs, and eliminates central cloud dependency. VeeaHub® Smart
Computing Hubs™ integrate a full range of connectivity options,
application processing power, and a full security stack to form an
elastic edge computing platform with a dynamic connectivity and
application mesh that can easily be deployed and centrally managed
from the cloud. Veea Edge Services run across this application mesh
to deliver secure remote access, IoT/IIoT/AIoT, and a wide range of
smart applications. These elements along with a range of
groundbreaking vertical-specific applications comprise the Veea
Edge Platform, serving the needs of organizations across Smart
Buildings, Smart Energy, Smart Cities, Smart Construction, Smart
Farming, Smart Retail, and other industry verticals. Veea was
formed in 2014 and is headquartered in New York City, with its
engineering activities located in Bath, UK, and Iselin, New Jersey,
USA, along with sales and support offices located at multiple
locations throughout the US, France, South Korea, and Brazil. Veea
was named by Gartner as a 2021 Cool Vendor in Edge Computing. For
more information, visit https://www.veea.com/. Follow us on
LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920591049/en/
Energous Investor Relations: Padilla IR
IR@energous.com
Energous Corporate Communications: SHIFT COMMUNICATIONS
energous@shiftcomm.com
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