Energous Shares Jump After FCC OKs Unlimited Distance Over-the-Air Charging

By Robb M. Stewart

Wireless-charging technology company Energous Corp. said Tuesday it received regulatory approval in the U.S. for over-the-air power transfer at any distance, sparking a rally in its shares.

Energous said the Federal Communications Commission granted equipment authorization for unlimited distance over-the-air wireless charging, complementing similar approval in Europe given in May. Together, the approvals expand the reach, customers and partners for Energous's WattUp wireless charging technology, the company said.

In premarket trading, the shares were 41% higher after ending Monday at $2.81, up 11% since the end of last year.

The company said its 1W Active Energy Harvesting transmitter can charge multiple devices at once, enabling at-any-distance over-the-air charging for a growing ecosystem of Internet of Things devices such as retail sensors, electronic shelf labels and industrial devices.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

10-19-21 0810ET