WATT Stock: The Big FCC News That Has Energous Shares Charging Higher Today

Editor’s note: This article was updated on Oct. 21 to correct Bob Friday’s role and company affiliation. 

Energous (NASDAQ:WATT) stock is getting a boost on Tuesday after announcing approval from the U.S. Federal Communications Commission (FCC) for its wireless power technology.

Image of the Energous Corp. logo on the side of a building representing WATT stock.

Source: Michael Vi / Shutterstock.com

This covers the company’s 900MHz 1W Active Energy Harvesting transmitter technology. The approval from the FCC allows for wireless power transmission at any range. This opens the way for long-distance wireless charging.

Energous already has similar approval in Europe. This allows it to move forward with plans to expand its ecosystem for WattUp. The 1W Active Energy Harvesting transmitter from the company is capable of charging multiple devices at once with over-the-air power transmission.

Energous notes that this will allow several customers to make use of its wireless power solution. That includes retailers, which could set up several Internet of Things devices to be charged wirelessly.

Bob Friday, vice president and CTO of Juniper Network’s AI-driven enterprise business, said the following about the news sending WATT stock higher today.

“Energy harvesting, batteryless BLE beacons bring a whole new option to the IoT wireless toolbox. Energous’ Active Energy Harvesting transmitting technology is going to significantly increase their range enabling these energy harvesting beacons to work with typical Wi-Fi / BLE deployments in enterprises and open the door to a whole new range of IoT use cases.”

WATT is also experiencing higher-than-normal trading today following the FCC news. As of this writing, some 55 million shares of the stock have been traded. That’s a hefty increase over the company’s daily average trading volume of around 933,000 shares.

WATT stock is up 16.8% as of Tuesday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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