September 20, 2014 10:59 AM ET

Electrical Equipment

Company Overview of WiTricity Corporation

Company Overview

WiTricity Corporation develops wireless electric power components for OEM. It operates as a licensee of wireless electric technology. The company’s solutions are used in direct wireless power, automatic wireless charging, consumer electronics, industrial, transportation, and direct wireless power interconnection applications. WiTricity Corporation has a strategic collaboration with Alps Electric Co. Ltd. The company was founded in 2007 and is based in Watertown, Massachusetts with additional offices in Utah.

149 Grove Street

Watertown, MA 02472

United States

Founded in 2007

Phone:

617-926-2700

Fax:

617-926-2745

Key Executives for WiTricity Corporation

Chief Executive Officer
Age: 51
Co-Founder and Director
Co-Founder and Staff Scientist
Co-Founder and Staff Scientist
Co-Founder and Member of Scientific Advisory Board
Compensation as of Fiscal Year 2014.

WiTricity Corporation Key Developments

WiTricity Names Donald R. Peck as Chief Financial Officer

WiTricity announced that it has named Donald R. Peck as chief financial officer (CFO). Peck, who brings deep experience in both public and private companies, will join the executive management team and lead WiTricity's finance and accounting operations. Joanne Bryce, WiTricity's current CFO, will remain with the company in a key consulting role. Prior to his role at LoJack, Peck served as executive vice president, chief financial officer and treasurer at Satcon Technology Corporation. He also spent time as executive vice president, chief financial officer and treasurer at Egenera Inc. and The First Marblehead Corporation.

WiTricity appoints Farooq Butt as Senior Vice President of Business Development & Strategy

WiTricity announced that it has named Farooq Butt as Senior Vice President of Business Development and Strategy. Farooq most recently as VP of Worldwide Business Development and Strategy for Dell's End User Solutions group. Farooq will play a vital role in further accelerating the commercialization of WiTricity's wireless power transfer technology, driving the company's strategy for business expansion and fostering technology partnerships around the globe. With extensive overseas contacts, especially in the Asia Pacific region, Farooq will work with innovative organizations in the consumer electronics, automotive, medical, military and industrial industries to incorporate WiTricity wireless power transfer technology into their products and solutions. As part of this newly created position, Farooq will also work to develop licensing solutions that speed time-to-market for companies that implement WiTricity's intellectual property (IP). In his role at Dell, Farooq was responsible for crafting the company's strategy across a rapidly expanding $37 billion product and IP portfolio.

WiTricity Announces Enhanced Relationship with Intel Corporation

WiTricity announced a technology licensing agreement with Intel Corporation. As part of this licensing agreement, WiTricity will work with Intel to integrate WiTricity's patented technology to enable efficient, high performance wireless charging solutions for computing devices powered by Intel, enabling more freedom and a seamless wireless charging experience for users. The agreement is centered on the Rezence(TM) specification, which was developed by the Alliance for Wireless Power (A4WP), and has been adopted by the mobile chipmakers, mobile phone manufacturers, and other key industry players. Both Intel and WiTricity are board members of the A4WP, helping to drive the technical direction and adoption of the Rezence specification. Rezence will enable wireless charging solutions that can interoperate with other Rezence-enabled devices.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
October 22, 2013
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