Energous and Veea Partner to Target Real-Time Asset Tracking of Mass IoT Deployments in Industrial, Logistics, and Retail Applications

Energous Corporation (NASDAQ: WATT), a leading developer of RF-based charging for wireless power networks, and Veea Inc., a leader in integrated smart edge connectivity, computing and security technologies, have joined forces to combine wireless power and edge computing for real-time asset tracking in rapidly growing IoT sectors. This collaboration aims to empower industry leaders to seamlessly integrate Energous' PowerBridge technology, Wiliot's IoT Pixel tags, and Veea's Edge Platform in a comprehensive wireless power ecosystem that enables reduced installation costs, lower latency, and improved bandwidth efficiency, all while enhancing security, privacy, and reliability.

As IoT expands, particularly in the realm of asset tracking, the need for cost-effective and dependable solutions is paramount for supply chain optimization. Asset tracking is a multifaceted ecosystem, requiring technologies that can uniquely identify items, from finished goods to raw materials, and offer real-time inventory insights. Implementing such comprehensive asset-tracking systems involves a concerted effort from various stakeholders, notably system component suppliers and integrators. This collaboration between Energous and Veea strives to bring together Energous' advanced wireless power technology and Veea's Edge Platform, which integrates connectivity, communication, and edge computing. This partnership is intended to offer customers a unique avenue for enhancing operational efficiency, significantly reducing operational and capital expenditures, lowering the total cost of ownership, and boosting return on investment.

As part of our commitment to innovation and practical application, we are pleased to announce that our combined technologies were demonstrated in a proof of concept at the AT&T Mexico Innovation Lab in Mexico City last month that was designed to demonstrate the real-world relevance and transformative potential of the solutions offered by Energous and Veea in expanding the IoT landscape.

“Driven by technological advancements in connectivity, data analytics, and new fields such as wireless power and AI/ML, the IoT industry is experiencing a significant paradigm shift. As data processing becomes more relevant, more and more customers are facing cost challenges due to the high quantity of data being generated, processed and stored,” said Cesar Johnston, CEO of Energous. “Our partnership with Veea is critical as we believe edge computing is key to addressing these growing challenges.”