WiTricity Acquires Qualcomm Halo

Deal unifies technology platforms to accelerate wireless electric
vehicle (EV) charging adoption; Qualcomm to become WiTricity shareholder

WATERTOWN, Mass.–(BUSINESS WIRE)–WiTricity,
the industry pioneer in wireless power transfer, today announced the
acquisition from Qualcomm Incorporated and Qualcomm Technologies, Inc.
of certain technology platform and IP assets, which will bring over
1,500 patents and patent applications related to wireless charging that
WiTricity will own or control. Through the transaction, Qualcomm
Incorporated will become a minority WiTricity shareholder.


This acquisition will streamline technology development that enables
automakers to deliver an EV charging experience that is seamless and
efficient. By simply parking over wireless charging ground pads located
at home, in garages, and public parking spots, EV drivers will be able
to recharge hands-free, without the need for any bulky cables, virtually
eliminating the need to ever plug in. Additionally, electrified
autonomous vehicle (AV) fleets will require wireless charging since
there will be no human drivers present to plug in.

“WiTricity’s wireless charging technology is key to the future of
mobility which is clearly electric, and increasingly shared and
autonomous,” said Alex Gruzen, CEO of WiTricity. “EV drivers and fleets
demand a simple, effortless charging experience. Bringing the Qualcomm
Halo technology into the WiTricity portfolio will simplify global
interoperability and significantly accelerate commercialization. This is
an exciting day for WiTricity, for automakers, for prospective EV
buyers, and ultimately for any company deploying fleets of autonomous
vehicles.”

Qualcomm Incorporated and WiTricity have been working collaboratively
with global standards organizations, which currently leverage reference
designs from each company. This acquisition will simplify ratification
of the standard and help ensure interoperability across automakers. EV
drivers will be able to use any standards-compatible pad to charge their
vehicles.

“With Qualcomm technology and expertise, we have been able to deliver
innovative automotive solutions, like Qualcomm Halo wireless electric
vehicle charging (WEVC), not only to support the shared vision of a more
efficient, safer and cleaner urban mobility, but also to transform the
automotive experience,” said Steve Pazol, advisor, and former vice
president and GM, Wireless Charging, Qualcomm Incorporated. “Qualcomm is
confident that combining WEVC under WiTricity’s leadership will create
accessibility to and demand by customers for this exciting technology.”

With all major car manufacturers and climate-focused nations like China
racing to phase out internal combustion vehicles, the global electric
vehicle market is at a tipping point. It is estimated that more than 120
million EVs will be on the road by 2030 with over $50 billion being
invested in charging infrastructure. By 2040, 200 million EVs will be on
the road in China alone; and globally, 559 million — or a third of all
cars. All of these could be charged simply and wirelessly with
WiTricity’s unique technology.

The acquisition follows other significant recent milestones for
WiTricity. The company has signed several new licensing deals including
Mahle in Germany and Anjie Wireless in China. Earlier this year, Honda
and WiTricity demonstrated their wireless vehicle-to-grid charging model
at CES in Las Vegas, leveraging WiTricity’s DRIVE 11 wireless charging
system. 2018 also saw the introduction of the world’s first vehicle that
is factory equipped with wireless charging, the BMW 530e iPerformance
sedan.

About WiTricity
WiTricity develops solutions to enable
wireless power transfer over distance using its patented magnetic
resonance technology. WiTricity works with top global carmakers and Tier
1 suppliers to deploy wireless power solutions, helping realize a future
of transportation that is electrified, shared and autonomous. See
how
 WiTricity makes EV charging easy. Get
to know
 WiTricity.

WiTricity technology licensing agreements have been announced
with Toyota, Aptiv (formerly Delphi), Mahle, TDK, IHI, Shindengen,
Daihen, BRUSA, and Anjie Wireless. Global corporate investors now
include Qualcomm, Toyota, Intel Capital, Delta Electronics Capital,
Foxconn, Haier, and Schlumberger. WiTricity is also collaborating
directly with leading carmakers to drive global standards for wireless
charging systems. Standards initiatives include the SAE International,
International Electrotechnical Commission (IEC), International
Organization for Standardization (ISO), STILLE, China Automotive
Technology & Research Center (CATARC), China Electricity Council and the
Chinese Electric Power Research Institute (CEPRI).

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Contacts

Melissa Mahoney / Allison Webster for WiTricity
617-426-2222
witricity@v2comms.com