Powermat and Duracell forming three way partnership to ‘globalize wireless charging’

BETHEL, Conn. & NY, Sep 14, 2011 (BUSINESS WIRE) — The Procter & Gamble Company and Powermat Ltd., the pioneer and leader in wireless charging, today announced that they intend to form a three way partnership (JV) to bring essentially the most innovative and compelling wireless power products to consumers worldwide. As section of the strategic alliance between P&G’s Duracell brand and Powermat, P&G also expects to make an equity investment in Powermat.

The decade has seen a pointy growth of smart portable devices, that have become a critical a part of our lives. Unfortunately, these same devices are getting ever more power hungry, creating the desire for a wireless charging technology that keeps those devices ‘always ready’.

It can be expected that the JV will begin operation early next year. The JV will harness the capabilities of P&G and Powermat to meet this common vision through unrivaled innovation and global reach. In combining P&G’s strong consumer understanding, brand-building and go-to- market capabilities with Powermat’s breakthrough technology, the JV will deliver an ecosystem of best-in-class wireless power solutions, under the aegis of the most brands within the field of portable power: Duracell and Powermat.

Wireless charging became a reality with Powermat’s retail product launch in 2009, and has gained momentum since then, with millions of shoppers joining the wireless power revolution. As portion of this ever strengthening wave, Powermat was chosen by General Motors and could be integrated into its cars as of 2012. Furthermore, Powermat is expanding its technology into public spaces, office furniture and major appliances. The JV’s products will seamlessly interoperate with this burgeoning ecosystem.

“Several decades ago, Duracell was a pioneer in a brand new revolutionary product category, alkaline roundcell batteries,” said Stassi Anastassov, Duracell President. “Today it’s a multi-billion dollar category. In a not too distant future, we predict wireless power solutions to eliminate the trouble of multiple cords and chargers, making a major growth opportunity. Innovation to create new solutions that touch and improve people’s lives is what P&G-Duracell are all about. The JV between Duracell and Powermat puts us inside the driver-seat for this disruptive category creation.”

IHS iSuppli, an electronic component researcher and trend forecaster, has estimated that the global retail marketplace for wireless charging would be a multi-billion dollar market by 2015. “Powermat and P&G joining forces makes a lot sense,” says Marijana Vukicevic, Senior Principal Power Management Analyst at IHS. “Adoption of wireless power is growing fast, and the wedding of a proven technology like Powermat’s with the worldwide marketing muscles of P&G promises to propel consumer adoption faster yet.”

Ran Poliakine, CEO of Powermat agreed: “Alkaline batteries, led by Duracell, really were among the first wireless power sources to achieve worldwide adoption by the patron. The promise of wireless power is in a similar fashion transformational, and there’s no partner more capable than Duracell — and its parent, P&G — to aid turn this vision right into a reality.”

About Powermat Powermat, Ltd. is pioneering the wireless power revolution. The 1st company to bring wireless power to consumers in a widely available, meaningful way via mainstream retail channels, Powermat is leading the charge in helping consumers lose the cords. Because the dominant market leader, Powermat’s technology is scalable and embeddable, allowing it to be built directly into electronics of every kind in addition to almost any surface to create wireless energy “hubs” within homes, automobiles, airports, offices and other venues. For additional information, please visit www.powermat.com .

About Duracell Element of the Procter & Gamble Company /quotes/zigman/238894/quotes/nls/pg PG +0.21% , Duracell have been powering people worldwide for greater than 40 years. Duracell products function the guts of devices that keep people connected, protect their families, entertain them and simplify their increasingly mobile lifestyles. Because the world’s leading manufacturer of high-performance alkaline batteries, Duracell also innovates in lighting, renewable power and wireless charging technologies to assist consumers live life without limits.

About Procter & Gamble P&G touches and improves the lives of about 4.4 billion people around the globe with its portfolio of trusted, quality brands. The Company’s leadership brands include Pampers(R), Tide(R), Ariel(R), Always(R), Whisper(R), Pantene(R), Mach3(R), Bounty(R), Dawn(R), Fairy(R), Gain(R), Pringles(R), Charmin(R), Downy(R), Lenor(R), Iams(R), Crest(R), Oral-B(R), Duracell(R), Olay(R), Head & Shoulders(R), Wella(R), Gillette(R), Braun(R), Fusion(R), Ace(R), Febreze(R), and Ambi Pur(R). With operations in about 80 countries, P&G brands come in greater than 180 countries worldwide. Please visit www.pg.com for the newest news and in-depth information regarding P&G and its brands.

SOURCE: Procter & Gamble