Energous WATT Stock News

Energous Corp (NASDAQ: WATT) is flying in the market this morning, and for good reason. The company announced that it has entered into a partnership with one of the largest battery manufacturers in China. Here’s what’s going on:

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WATT Stock Rockets On Partnership News

In the press release, Energous said that it has teamed up with Grepow Battery, one of the largest battery manufacturers in the world and the leading player in the Chinese market. Under the partnership, the two will work together to develop batteries that are wirelessly charged.

This wireless charging will take place through WattUp. This is a radio frequency based charging technology. The batteries that will be able to be charged in this way are expected to be used in electronic devices in the commercial, industrial, and medical industries.

In a statement, Stephen R. Rizzone, President and CEO at WATT, had the following to offer:

We are excited to collaborate with one of the world’s leading battery manufacturers on next generation batteries that we believe will be beneficial to their broad range of customers. Grepow has a strong footprint in the commercial, medical and industrial applications and our technology is well-suited to meet the needs of their customer applications within each of these very different markets.

The above statement was followed up by Peter Liu, CEO at Grepow Battery. Here’s what he had to say about the partnership with WATT:

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.

This News Is Huge

The news issued this morning by Energous is overwhelmingly positive. Think about it, wireless charging is a matter of convenience, and it has picked up in popularity in the cell phone space. Of course, if we can spread this technology through other spaces, it will likely be well received by a number of audiences.

WATT is a relatively small company embarking on a big journey with a big partner. The company trades with a market cap of under $150 million. The battery industry is worth nearly $17 billion annually.

Considering the demand that wireless charging batteries will likely experience, there’s good reason to be excited about WATT stock.

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