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.
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.
There’s more stock market news investors will want to dive into below!
InvestorPlace offers up daily coverage of the stock market with our in-depth looks at the top stocks. For Tuesday, that includes the latest concerning Atea Pharmaceuticals (NASDAQ:AVIR), ProShares Bitcoin Strategy ETF (NYSE:BITO), as well as this morning’s pre-market stock movers. You can find all of that at the following links!
More Stock Market News for Tuesday
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- BITO ETF Alert: 10 Things to Know as the First Bitcoin Futures ETF Starts Trading Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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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