Energous Pops On FCC Approval For Wireless Charging Technology

Energous Pops On FCC Approval For Wireless Charging Technology

Shares of Energous ( WATT ) jumped late Tuesday after the company said federal regulators have approved its wireless charging technology to power smartphones, fitness trackers and other devices over the air and from a distance.

The Federal Communications Commission has certified the Energous “WattUp” transmitter, which sends radio-frequency-based power to devices, the company said.

Energous popped 64% to 14.50 in after-hours trading on the stock market today . As of Tuesday’s market close, Energous had been down 90% in 2017. The San Jose, Calif.-based firm is a development-stage company that has yet to turn a profit.

According to Energous, its transmitter is the first wireless charger to be approved under the FCC’s Part 18 rules.

“Untethered, wire-free charging – such as charging a fitness band even while wearing it – is exactly what consumers have been waiting for,” Energous CEO Stephen Rizzone said in a news release .

Dialog Semiconductor provides chips to Energous. Its shares are traded on the Frankfurt stock exchange.

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