Energous Corporation (NASDAQ: WATT) is engaged as a global wireless charging company. The company’s WattUp solution is the only charging technology that supports contact and distance charging. Shares of the advanced charging company are rallying 15% through early trading on Tuesday, October 19, 2021. Over the past three months, Energous Corporation has seen average daily volume of 933,770 shares. However, volume of 55.61 million shares or dollar volume of $127.9 million, has already exchanged hands through early trading on Tuesday.
Shares of Energous Corporation are gaining after the company announced the U.S. Federal Communications Commission (FCC) has granted Part 15 equipment approval for the company’s 900MHz 1W Active Energy Harvesting transmitter technology. The authorized technology will allow for wireless power transfer at any distance. The FCC ruling comes as European regulators made a similar approval back in May 2021.
The 1W Active Energy Harvesting transmitter is able to charge several devices at once, which is a powerful tool to enable a growing ecosystem of Internet of Things (IoT) devices. This includes devices such as retail sensors, industrial equipment, electronic shelf labels, etc.
IoT devices are continuing to see strong growth, particularly in the retail industry. For example, electronic shelf labeling is estimated to see annual growth of 21% and hit $2.5 billion by 2028. Wireless charging options are gaining interest as a way to reduce the burden of plug-in options.
“This FCC certification of our Active Energy Harvesting transmitter technology marks the latest recognition of our efforts to further the regulatory pathway for far field wireless power networks,” said Cesar Johnston, acting CEO at Energous. “Our WattUp active energy harvesting solution provides U.S and European developers an approved wireless charging option when designing the power networks needed to cost effectively and efficiently deploy IoT sensors, low-power CPUs and other devices.”
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