Energous Corporation (NASDAQ:WATT) news for Wednesday concerning an agreement with Chinese battery manufacturer Grepow Battery has WATT stock shining brighter.
Energous Corporation is working with Grepow Battery on the development of batteries that are charged up wirelessly. This charging technology uses radio frequencies to charge up the batties and WATT is behind that tech.
The Energous Corporation news release notes that the two companies plan for these batteries to see use in multiple fields. That includes the “commercial, industrial and medical industries.” WATT says that its tech is well-designed to meet the unique needs of each of these industries.
Peter Liu, CEO of Grepow Battery, said this about the Energous Corporation news.
We are thrilled to work with Energous Corporation on next generation batteries with their award-winning WattUp RF-based wireless charging technology. Our full cell customization for wearable applications, together with this scalable, flexible and reliable RF-based wireless charging technology, is expected to be a desirable feature and applicable for our OEM customers as they build and design future product designs.”
Energous Corporation and Grepow Battery don’t provide any of the finer details of the partnership, such as when the products will be ready, or any financial information.
Energous Corporation is a fairly new company that was founded back in 2013. The company then held an IPO during the following year, which raised a total of $27 million.
WATT stock was up 29.4% as of Wednesday afternoon and is up 24.2% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.