Energous Partners to Create Battery-Free Smart Tags for Retail IoT Innovation

Energous Partners to Innovate Battery-Free Smart Tags in Retail IoT

Energous Corporation, operating as Energous Wireless Power Solutions, announces a significant collaboration with a prominent global provider of RFID solutions, marking a transformative step in the retail-focused Internet of Things (IoT) sector. This partnership aims to develop a battery-free smart tag designed to enhance asset tracking and visibility for retailers. As the RFID market is anticipated to reach $14 billion in 2023, with the retail segment contributing approximately $4.2 billion, Energous positions itself at the forefront of this growing industry. The new smart tag will leverage Energous' advanced wireless power networks (WPNs) to power ultra-low-power sensors, facilitating real-time data communication to the cloud without the need for batteries or grid connections.

Energous' CEO and CFO, Mallorie Burak, underscores the significance of this collaboration, emphasizing its potential to improve operational efficiencies and promote sustainability. By reducing reliance on batteries, the innovative smart tag is set to transform asset tracking and inventory management, offering enhanced visibility and control for retail brands. With the rise of e-commerce and the increasing demand for efficient inventory solutions, the battery-free smart tag stands to revolutionize how retailers manage their assets. This initiative not only aligns with global sustainability goals but also positions Energous as a leader in providing cutting-edge solutions that address contemporary retail challenges.

In addition to the smart tag project, Energous continues to expand its portfolio of battery-free devices, including retail sensors and electronic shelf labels. The company's technology supports various applications, ranging from air quality monitoring to motion detection, showcasing the versatility of its wireless power solutions. Energous is committed to leveraging its extensive intellectual property to drive innovation within the industry, paving the way for a smarter and more sustainable future.

Energous also recently reported its financial results for the third quarter of 2024, revealing a 36% year-over-year revenue increase, totaling $230,000. The company has reduced its costs and expenses significantly, leading to a decreased net loss compared to the previous year. With a backlog of $0.2 million and a notable increase in Proof of Concept trials, Energous demonstrates growing market adoption of its wireless power solutions, particularly the PowerBridge transmitter systems, highlighting its ongoing operational improvements and strategic partnerships.