Dialog Semiconductor Invests Additional $15 Million in Energous Corporation

SAN JOSE, CA--(Marketwired - June 28, 2017) - Energous Corporation (NASDAQ: WATT), the developer of WattUp^®, a revolutionary wire-free charging technology that provides over-the-air power, today announced that Dialog Semiconductor plc (XETRA: DLG) is investing an additional $15 million in Energous and will continue as the exclusive component supplier of WattUp technology. Energous will continue to have access to Dialog's broad sales and distribution channels to help advance its go-to-market strategy.

This $15 million investment from Dialog adds to its initial investment of $10 million at the beginning of the partnership in November 2016. The partnership combines Energous' uncoupled wireless charging technology and Dialog's power saving technologies. Energous' WattUp technology uses Dialog's SmartBond™ Bluetooth^® low energy solution as the out-of-band communications channel between the wireless transmitter and receiver. Dialog's power management technology is then used to distribute power from the WattUp receiver IC to the rest of the device while Dialog's AC/DC Rapid Charge™ power conversion technology efficiently delivers power to the wireless transmitter.

"We are looking forward to building on the progress that we have made to streamline our production and to accelerate deployment of Energous' technology into more consumer products and markets. This additional investment from Dialog is a testament to their commitment to supporting the development of innovative, next-generation technologies that address consumer challenges and demands," said Stephen R. Rizzone, president and CEO of Energous. "Since our partnership announcement in late 2016, we have made great strides, and have been working very closely with Dialog to integrate and align our resources. Our combined teams have been visiting our shared customers to demonstrate the technology, and have seen increased interest as evidenced by our continuously growing and robust customer pipeline."

"Dialog believes that there is a large demand for completely untethered wireless charging, as more consumer electronics manufacturers seek to add new capabilities to their devices to differentiate themselves," said Mark Tyndall, senior vice president of Corporate Development & Strategy at Dialog. "Our joint focus is now on supporting our customers around the world to bring WattUp-enabled products to the mass market, while pushing the boundaries of wireless charging's possibilities."