Energous (NASDAQ:WATT) stock is soaring close to 70% on Thursday as the company developed a product that has garnered approval from the Federal Communications Commission (FCC) for sale in the U.S.
The San Jose, Calif.-based company is perhaps best known for developing WattUp, which is a wireless charging 2.0 technology and it now has developed a product that uses the technology. The WattUp’s personal sound amplification products (PSAP) from Delight were created in partnership with SK Telesys.
Energous said that the product has received FCC certification to be marketed and sold in the U.S., making it the first customer product to do so for the company. “FCC approval of the Delight PSAP hearing device is a very significant and positive announcement for Energous in that it represents the first WattUp-enabled consumer product moving into full commercial production, with anticipated availability in Q1,” said Stephen R. Rizzone, president and CEO of Energous Corporation.
“While there have been delays in reaching this point, the customer funnel is robust, and we believe this is the first of many WattUp-enabled consumer electronic products in a number of growing vertical markets that will be going into full production in 2019,” he added
PSAPs work much like hearing aids, designed to help the hearing impaired with hearing loss, although these can be found without a prescription and are more affordable than hearing ads. The device’s wireless charging technology makes it easy to charge on a pad without having to deal with the battery replacement process.
WATT stock is soaring a whopping 69.4% on Thursday following the news, with shares now selling at $7.76 apiece.