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Shares of Energous Corp (NASDAQ:WATT), a maker of wire-free charging technology, traded higher Tuesday after the Federal Communications Commission granted a certification for its near field wireless charging transmitter.
What Happened
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The FCC granted a certification for Energous' WattUp Near Field transmitter, which runs at 900 MHz. The technology allows for contact-based charging capabilities and interoperability with any WattUp-enabled receiving device. The certification follows a "rigorous testing" overseen by the FCC to confirm the technology is fully compliant with all safety and regulatory requirements.
Why It's Important
Energous says its technology is the only one of its kind that's capable for both contact-based and at-a-distance wireless charging, which can also charge multiple devices at the same time. The company said its technology is "highly scalable and works with a variety of different sized products."
What's Next
Energous also said in a press release the FCC's approval will serve as a "production-read reference design" which will undergo testing and filings for international approvals ahead of a global launch.
Energous took a big hit back in December after notable short seller Citron Research cast doubt on the stock. Andrew Left said the company has a "history of deception" and the technology it makes is "not ready for prime time."
The stock was up about 10 percent Tuesday at $18.31.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.