WiTricity Licenses Green Power to Build Wireless Chargers for South Korean Electric Vehicle Market

WATERTOWN, Mass.--(BUSINESS WIRE)--Oct 22, 2019--

WiTricity, the industry pioneer in wireless power transfer over distance, has entered into licensing and technology transfer agreements with Green Power, a leading South Korea-based supplier of power electronics and high power wireless charging systems for various applications. The agreements allow Green Power to leverage WiTricity's innovative technology and reference designs for wireless electric vehicle (EV) charging systems. South Korean automakers are clear global leaders in the effort to introduce EVs with wireless charging, as evidenced by Hyundai Motor Corporation’s public demonstrations of WiTricity wireless charging technology and automated valet concept video.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191022005103/en/

WiTricity (Photo: Business Wire)

Green Power will base its product offerings on WiTricity's DRIVE 11 reference designs, which deliver 11 kW of power at efficiency and speeds that match or exceed conventional plug-in EV chargers, creating a delightful user experience with no compromises.

WiTricity’s DRIVE 11 reference designs will comply with the upcoming SAE, ISO/IEC and GB (China) global standards. Standardization provides the foundation for the dramatic growth of the wireless charging ecosystem by making interoperability a reality. OEMs, Tier 1 & 2 suppliers and infrastructure suppliers can come to market with the confidence that their standards-compliant products will work reliably together.

“We expect wireless charging to become a key feature and a catalyst to the growth of the EV market,” said Jung G. Cho, CEO of Green Power. Green Power aims to be a leading supplier of wireless charging infrastructure. “We are proud to cooperate with WiTricity and leverage WiTricity’s patented technology to bring these EV wireless charging systems to market as quickly as possible.”

"We are excited about the progress we’re making in South Korea – it’s a strategic market for EV adoption with leading global automakers,” said Alex Gruzen, CEO, WiTricity. "Green Power brings extensive knowledge and expertise in wireless power transfer systems, including success delivering research prototypes for EV charging. This agreement recognizes the importance of WiTricity’s intellectual property, technology and know-how for commercialization of wireless charging.”

About Green Power
Based in South Korea, Green Power is a global technology leader in wireless power transfer. Founded in 1998, the company has developed and supplied wireless power transfer systems (1kW-300kW) for material handling equipment for over 16 years. Green Power also has extensive R&D experience in applying wireless charging systems ranging from 1kW-1000kW, in various applications including electric passenger vehicles, electric buses, and tram and port equipment. Six electric buses with wireless charging developed by Green Power have been operating in Korea since 2012.

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

Following its recent acquisition of the Qualcomm Halo IP portfolio, WiTricity has solidified its position as the “go-to” provider of EV wireless charging technology to automakers and Tier 1 suppliers. Licenses already have been announced with Toyota, Aptiv (formerly Delphi), Mahle, TDK, IHI, Shindengen, Daihen, BRUSA, Anjie Wireless, Yura and VIE. Global corporate investors include Qualcomm, Toyota, Intel Capital, Delta Electronics Capital, Foxconn, 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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View source version on businesswire.com:https://www.businesswire.com/news/home/20191022005103/en/

CONTACT: WiTricity – Version 2.0 Communications

Allison Webster

617-426-2222

[email protected]

KEYWORD: SOUTH KOREA UNITED STATES NORTH AMERICA ASIA PACIFIC MASSACHUSETTS

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE TECHNOLOGY MOBILE/WIRELESS SOFTWARE ALTERNATIVE VEHICLES/FUELS HARDWARE

SOURCE: WiTricity

Copyright Business Wire 2019.

PUB: 10/22/2019 09:00 AM/DISC: 10/22/2019 09:01 AM

http://www.businesswire.com/news/home/20191022005103/en

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