SAN JOSE, Calif.--(BUSINESS WIRE)--Energous Corporation (NASDAQ: WATT), a leading developer of RF-based charging for wireless power networks, and Veea Inc., a leader in integrated smart edge connectivity, computing and security technologies, have joined forces to combine wireless power and edge computing for real-time asset tracking in rapidly growing IoT sectors. This collaboration aims to empower industry leaders to seamlessly integrate Energous' PowerBridge technology, Wiliot's IoT Pixel tags, and Veea's Edge Platform in a comprehensive wireless power ecosystem that enables reduced installation costs, lower latency, and improved bandwidth efficiency, all while enhancing security, privacy, and reliability.
As IoT expands, particularly in the realm of asset tracking, the need for cost-effective and dependable solutions is paramount for supply chain optimization. Asset tracking is a multifaceted ecosystem, requiring technologies that can uniquely identify items, from finished goods to raw materials, and offer real-time inventory insights. Implementing such comprehensive asset-tracking systems involves a concerted effort from various stakeholders, notably system component suppliers and integrators. This collaboration between Energous and Veea strives to bring together Energous' advanced wireless power technology and Veea's Edge Platform, which integrates connectivity, communication, and edge computing. This partnership is intended to offer customers a unique avenue for enhancing operational efficiency, significantly reducing operational and capital expenditures, lowering the total cost of ownership, and boosting return on investment.
As part of our commitment to innovation and practical application, we are pleased to announce that our combined technologies were demonstrated in a proof of concept at the AT&T Mexico Innovation Lab in Mexico City last month that was designed to demonstrate the real-world relevance and transformative potential of the solutions offered by Energous and Veea in expanding the IoT landscape.
“Driven by technological advancements in connectivity, data analytics, and new fields such as wireless power and AI/ML, the IoT industry is experiencing a significant paradigm shift. As data processing becomes more relevant, more and more customers are facing cost challenges due to the high quantity of data being generated, processed and stored,” said Cesar Johnston, CEO of Energous. “Our partnership with Veea is critical as we believe edge computing is key to addressing these growing challenges.”
“Veea is thrilled to partner with Energous to improve inventory controls and asset tracking use cases by utilizing the connectivity capabilities of Veea’s Edge Platform paired with Energous PowerBridges and Wiliot IoT Pixel tags. Improving inventory controls and speed to market for inventory fulfillment while reducing supply chain logistic complexity provides tremendous value for distribution centers, logistical providers and ultimately saves money for the end consumer,” says Mark Tubinis, Veea’s CCO. “With the explosive growth in manufacturing facilities and supply chain logistics, having successfully demonstrated the combined solution as part of AT&T Mexico’s Innovation Lab, Veea and Energous are positioned as leaders in Enterprise IoT solutions.”
This joint solution will include Energous PowerBridges along with Wiliot IoT Pixel tags - with Veea Edge platform solution aiming to provide system integrators, IoT solution developers, cloud and network service providers, and other ecosystem participants with better tools and building blocks that accelerate time to market, reduce risk and drive solid returns on investment.
About Energous Corporation
Energous Corporation (NASDAQ: WATT) has been pioneering wireless charging over distance technology since 2012. Today, as the global leader in wireless charging over distance, its networks are safely and seamlessly powering its customers’ RF-based systems in a variety of industries, including retail, industrial, healthcare and more. Its total network solution is designed to support a variety of applications, including inventory and asset tracking, smart manufacturing, electronic shelf labels, IoT sensors, digital supply chain management, inventory management, loss prevention, patient/people tracking and sustainability initiatives. The number of industries and applications it serves is rapidly growing as it works to support the next generation of the IoT ecosystem.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other similar terms. Examples of forward-looking statements in this release include, but are not limited to, our statements about the success of our collaborations with our partners, statements about our technology and its expected functionality, and statements with respect to the future of the global wireless charging industry and our technology. Factors that could cause actual results to differ from current expectations include: uncertain timing of necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent annual report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequent quarterly reports on Form 10-Q, as well as in other documents that may be subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous’ views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law.
About Veea
Veea® is redefining and simplifying secure edge computing in a way that improves application responsiveness, reduces bandwidth costs, and eliminates central cloud dependency. VeeaHub® Smart Computing Hubs™ integrate a full range of connectivity options, application processing power, and a full security stack to form an elastic edge computing platform with a dynamic connectivity and application mesh that can easily be deployed and centrally managed from the cloud. Veea Edge Services run across this application mesh to deliver secure remote access, IoT/IIoT/AIoT, and a wide range of smart applications. These elements along with a range of groundbreaking vertical-specific applications comprise the Veea Edge Platform, serving the needs of organizations across Smart Buildings, Smart Energy, Smart Cities, Smart Construction, Smart Farming, Smart Retail, and other industry verticals. Veea was formed in 2014 and is headquartered in New York City, with its engineering activities located in Bath, UK, and Iselin, New Jersey, USA, along with sales and support offices located at multiple locations throughout the US, France, South Korea, and Brazil. Veea was named by Gartner as a 2021 Cool Vendor in Edge Computing. For more information, visit https://www.veea.com/. Follow us on LinkedIn.
