Market Overview

Energous Jolts Higher To New 52-Week Highs Following New Agreement With Pegatron


Shares of Energous Corp (NASDAQ: WATT) were trading higher by more than 8 percent mid-Tuesday afternoon after earlier hitting a new 52-week high of $11.44.

Investors and traders were bullish on the development-stage manufacturer of wire-free chargers (known as WattUp) for electronic devices after the company announced a new development agreement with Pegatron.

As part of the agreement, Pegatron can integrate Energous' WattUp technology into its diversified product line, including notebooks, game consoles, networking equipment, among others. The agreement also names Pegatron as a non-exclusive partner to licence the WattUp technology in both transmitter and receiver designs.

"We are extremely pleased to add Pegatron, a world-class tier-1 OEM/ODM, to our expanding list of WattUp licensees," said Stephen R. Rizzone, President and CEO of Energous Corporation. "2016 is shaping up to be a breakout year for Energous as we continue to advance our key strategic partnership, focus on the Mini WattUp transmitter as our quickest path to revenue and ultimately execute on our long-term strategy of delivering wire-free power at a distance. Partnering with top-tier companies like Pegatron is a key part of our strategy to build out our ecosystem and further solidify our market-entry late this year, earlier next year."

Posted-In: Energous Pegatron Stephen Rizzone WattUp Wireless ChargingNews


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