Wireless Power Is Here — Could It Save Your Life? - Medtronic (NYSE:MDT), Qualcomm (NASDAQ:QCOM)

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WiFi gets you wireless internet. WiGL, pronounced wiggle, could one day very soon get you wireless electrical power.

In a world that relies increasingly on highly mobile battery power, gaining mobile access wirelessly to a power source may not only be a convenient resource for consumers using smartphones and computers, but it could also be life-altering and potentially life-saving resource when it comes to medical technology and equipment.

Take active implantable medical devices (AIMD) like cardiac pacemakers, cardioverter defibrillators (ICD) or drug-delivery pumps. All of those devices, made by companies like Medtronic plc (NYSE:MDT), require electrical power to operate and rely on long-lasting highly mobile batteries so they don’t have to be replaced during invasive surgeries.

What if wireless power networks could be an alternative source of filling up those batteries, or one day replacing batteries all together? That’s just some of the questions engineers have at WiGL, which stands for Wireless-electric Grid of Local Air Networks. The Virginia-based startup says it is working to get people to ditch cords and wires via the power of wireless power networks. Building a world where everyday products like TVs, computers and lamps are networked and send us wireless power while we are on the move.

Medical Advancement Brings Challenges

As medical devices become more functional and complex, and therefore consume more power, creating suitable batteries or power solutions to meet the challenge can reportedly become a barrier to innovation.

When it comes to replacing these devices, there are significant risks of infections, some even life-threatening. More than half of pacemaker recipients require a replacement, and between 11% and 15% of those require multiple replacements, according to this article.

While some scientific researchers are working on innovative devices that are able to harvest energy from the human body to potentially recharge medical devices. WiGL is betting on the ability to connect those harvesting devices to the WiGL enabled power networks. In short, WiGL is building networks of wireless power that could also help in the field of medicine.

The global wireless power transmission market is expected to grow at a compound annual growth rate of 23% from 2019 to 2024, according to ResearchAndMarkets.com. Major players in the wireless power transmission technology space include Qualcomm Inc. (NASDAQ:QCOM) and Texas Instruments Inc. (NASDAQ:TXN).

WiGL, which states that it aims to launch its WiGL-enabled wireless power networking products by the middle of next year, is in a second round of fundraising after raising almost $5 million in 2021. The company reports that it plans to make strategic acquisitions to accelerate touchless wireless power transfer networking (tWPT) in the second half of this year depending on the final amount raised in this second investment phase.

More details on the company’s fundraising and tWPT technologies can be found here.

Offering Circular: https://bit.ly/wiglOC

Related Risks: https://bit.ly/wiglrrs

This Reg A+ is made available through StartEngine Primary, LLC, Member of FINRA/SIPC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

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Picture credit: Piron Guillaume on Unsplash

TXNTexas Instruments Inc

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