Skepticism is good when you're investing your hard-earned money. I believe the fundamentals for this company have changed ever since they announced the contract with "one of the largest retail companies" in the U.S.
The T/A seems to be repeating itself too. Take a look at a 6-month chart. Just before it jumped up to $2.30/share, it bottomed out at .28 cents. That is similar to what it did yesterday...bottoming out at .25.
It is now moving up from the cellar...just like it did in December. I think history will repeat itself once we get confirmation that Energous has completed the first part of their contract with Walmart. (Just my opinion, of course)
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Energous Awarded Scalable Multi-Phase Contract with Fortune 10 Retailer
Energous 2W PowerBridge Transmitter Integrated for Deployment in Over 4,700 US Locations
SAN JOSE, Calif.—December 3, 2024—Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT), a pioneer in scalable, over-the-air (OTA) wireless power networks (WPNs), today announced it has been awarded the first phase of a multi-stage project by a Fortune 10 multinational retailer. This modernization project is part of a nationwide infrastructure optimization program undertaken by the retailer, which is expected to upgrade approximately 4,700 retail locations over the next three to five years.
As part of this initial phase of the project, more than 1,500 Energous 2W PowerBridge transmitter systems are anticipated to begin shipping by the end of this year, representing an order of approximately $0.3 million, to provide the backbone of new wireless power networks (WPNs) that are slated to be installed in the first quarter of 2025. This initial investment by the Fortune 10 retailer is expected to significantly improve supply chain visibility and control of perishable and dry goods for multiple grocery distribution centers and approximately 140 US retail locations out of the 500 expected to be installed during fiscal year 2025. The retailer is also implementing additional Energous PowerBridge transmitters to improve overall grocery distribution and transportation efficiency in these installed locations.
“We are proud to reach such a critical milestone in the commercial adoption of our 2W PowerBridge transmitter technology,” said Mallorie Burak, CEO and CFO of Energous Wireless Power Solutions. “We’ve partnered closely with this customer since the start of our initial Proof of Concept phase in 2023, where our innovative WPN solutions not only met but exceeded the stringent performance metrics required to proceed—delivering up to 99 percent visibility of all tracked assets and inventory, from the warehouse to the store.
“The strong empirical results from our pilot program allowed us to expand our initial relationship to now include dry goods distribution in addition to perishable goods and was a key consideration in their decision to proceed with a nationwide rollout of our WPN technologies. Our 2W PowerBridge transmitters are expected to play a central role in enhancing our customer’s grocery distribution visibility and control, providing them with always-on access to critical data, and delivering operational efficiency with fewer batteries for smarter, more sustainable business operations. Our technology was specifically incorporated by the client as a core component in their modernization program, putting us in excellent position to participate in all phases of this groundbreaking modernization program across more than 4,700 US locations,” added Burak.
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