Investors are, once again, pouring money into over-the-air charging technology linked to Apple’s new iPhone.
From an Energous Corp. press release that moved on the business wires Wednesday:
SAN JOSE, CA–(Marketwired – May 10, 2017) – Energous Corporation (WATT), the developer of WattUp®, a revolutionary wire-free charging technology that provides over-the-air power at a distance, today announced financial results for the first quarter ended March 31, 2017, and provided an update on its operational progress.
- Energous expects the first orders for significant quantities of its chipsets from one or more customers [ex ped: i.e. Apple] before the end of the second quarter; shipped and in production in the third quarter; and available for purchase from the company’s customers toward the end of the third quarter/early fourth quarter.
- Expanded the number of active customer engagements to 68, and doubled the size of the company’s customer-facing engineering organization to help accelerate the product integration cycle and support high demand.
- In testing phase for regulatory certification of the first power-at-a-distance wire-free transmitter; anticipates formal certification well before the forecasted release of Energous’ Mid Field transmitter by the end of 2017.
- Successfully completed key milestone projects with the company’s strategic partners.
- Recognized $575,000 in engineering services revenue for the 2017 first quarter.
Note: This is not the first time investors have bet on Energous. See the 10-year fever chart: