HOUSTON, Tx – On December 17, 2020, in a combination of debt, equity and cash, Plugless Power Inc. (“Plugless Power™”) acquired the wireless inductive charging patent portfolio, and other related intellectual property, of Evatran Group, Inc. (“Evatran™”).
Evatran™ was a leading developer of wireless charging systems for electric vehicles (“EV’s”). Its patented technology offered electric vehicle an efficient, safe, and convenient alternative to the current plug-in process. Evatran™ was the first to bring to market a wireless EV charging station to provide 1 million charge hours with the first 3.3kW & 7.2kW production units. Evatran™ was also the first to install a wireless EV charging station on a production fleet of European driverless shuttlebuses, the first to install a wireless charging station on a Tesla™ Model S™, and the first to support a Chinese production EV with a 6” air gap.
Wireless inductive charging will allow driverless autonomy and drone delivery to become a reality. Further, the deployment of wireless inductive charging improves operator safety, provides unrivaled convenience in inclement weather, and can eliminate plug-end incompatibility.
Plugless Power’s™ acquisition of the Evatran™ patent portfolio allows for the continued evolution of the technology. Plugless Power’s™ patent and product-release pipeline will enhance the EV experience. Using a combination of technologies developed by Evatran™, as well as a host of new patents to be introduced by the Plugless Power™ team, the third generation Plugless Power™ L2 Wireless Charging System will be introduced in 2022. This will be the first of many wireless charging technologies planned for release by the Company between 2022 and 2025 that will target a variety of electrification markets, including electric wheelchairs and electric golf carts.
ABOUT PLUGLESS POWER
Plugless Power™, a Houston, Texas-based company, looks to facilitate the wide-spread adoption of equipment electrification through sophisticated wireless power transfer technology. Plugless Power’s™ technology enhances the user experience by providing charging, without the cord, via wireless induction. Using two aligned magnetic coils, power is transferred wirelessly across an air gap that may be as large as 12”. This provides a dramatic improvement in operational convenience.
Visit Plugless Power’s website at www.plugless.com. For investor relations, please contact us at https://pluglesspower.com/investor-contact/. To follow the company’s progress, please visit our Link-In page at https://www.linkedin.com/company/pluglesspower/.