Energous Stock Boom: Wireless charging technology firm Energous (NASDAQ:WATT) yesterday announced that a new transmitter in their flagship WattUp wireless charging system family has received Federal Communications Commission (FCC) certification, prompting the Energous stock boom today.
The WattUp Near Field Transmitter, running at 900 MHz, was determined by the FCC after laboratory testing to be fully compliant with its safety and regulatory requirements. Energous’ WattUp technology allows devices such as phones and tablets to be charged simply by being fitted with a receiver in close proximity to the WattUp transmitter.
The technology works by sending and receiving radio waves at certain frequencies, which can then be transformed into a DC electrical current. This current is then directed to the device’s battery. Energous claim that the WattUp technology is the only one currently capable of both “contact-based and at-a-distance wireless charging,” as well as being able to charge more than one device at the same time.
Although the firm also develops mid-field and far-field transmitters – the latter capable of charging devices simply by being in the same room – it is the smallest and lowest-cost near-field transmitter which has recently been approved. It is also contact-based, meaning that the device to be charged must still be in contact with the near-field charger despite no wires being involved.
Stephen R. Rizzone, CEO of Energous, said of the approval: “This FCC-approved near field transmitter will serve as a production-ready reference design for many of the initial contact-based applications from our customers.”
In addition, the firm also announced a conference call to discuss its first quarter financial year 2018 results. It is likely that this also contributed to the rise in stock price as investors buy up in anticipation. The conference call date is set on Tuesday, May 1st at 1:30 p.m. PT. Details can be found on the firm’s press release.
At the time of writing, stocks in Energous are priced at $18.31 per share, up 9.97% in the last 24 hours. This brings the firm’s market cap to $462.4 million USD. Share prices more than tripled in December when the firm announced that its “power at a distance” mid-field transmitter received FCC certification. The transmitter allows devices to be charged at a distance of up to three feet.
Featured image: Energous.com