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HoMedics/PowerMat Enter Joint Venture to Deliver Invisible Connectivity for Safe,...
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HoMedics/PowerMat Enter Joint Venture to Deliver Invisible Connectivity for Safe, Affordable Distribution of Wire-Free Energy and Data Deal to Deliver Revolutionary Consumer Solution and Reinvent Energy Distribution Process NEW YORK & COMMERCE TOWNSHIP, Mich.--(Business Wire)-- Michigan-based HoMedics and Israel/New York-based PowerMat, Ltd. announced a groundbreaking deal today that delivers on the revolutionary promise of wireless energy technology; the creation of a new consumer lifestyle based on 'ease of use' products that enhance consumers' experience and provide a level of luxury and comfort never before available - all within a wireless environment. With the advent of PowerMat's Surface Enhancement Technology (SET), traditional electrical wires are obsolete. SET technology delivers cordless electrical power to nearly every kind of electronic device (laptops, cell phones, PDAs, etc.) placed on its ultra thin surface without the need for multiple electronic outlets or docking stations. Designed for use at home, at the office, in the classroom and on the road, this technology not only eliminates the unattractive tangle of "wire spaghetti" that accumulates behind and around work stations and home offices, it also eliminates the need to carry multiple bulky chargers to power a variety of electronic devices. Above all, it provides a safe, affordable and environmentally sound alternative to traditional powering methods, taking energy distribution to the next evolutionary level. As part of the deal, HoMedics and PowerMat have created a third entity - HoMedics PowerMat North America (HPNA) - to market and distribute an array of products equipped with PowerMat's proprietary technology. SET is scientifically significant, environmentally "smart," cost-efficient and utilizes magnetic induction as a power source rather than traditional electrical energy. This enables surfaces to act as invisible connectivity points for affordable, efficient and safe distribution of wire-free energy and data to products that are PowerMat-enabled. Designed to profile the power needs of any electronic device with which it makes contact through an 'electronic handshake,' SET technology facilitates the transfer of power when a PowerMat-enabled device is in immediate proximity with the PowerMat powering source. PowerMat completely eliminates the transfer of energy when a device is in idle mode. "This joint venture between HoMedics and PowerMat is the perfect complement," said Ran Poliakine, Chairman of PowerMat. "HoMedics has a long history of improving the lives of consumers by offering personal wellness products that utilize the latest technologies. PowerMat is dedicated to bettering the lives of consumers through 'ease of use' technologies and by supporting the larger global effort to promote a cleaner, safer, and healthier environment." Mr. Poliakine, a well-recognized technology visionary, has founded several successful companies and brought a wide array of innovative solutions to the consumer market throughout his career. "HoMedics is thrilled to join PowerMat in this venture. HoMedics is dedicated to developing lifestyle-enhancing products at the forefront of emerging technologies and the SET interface will allow us to develop the next generation of technologies that deliver high consumer satisfaction," said Alon Kaufman, CEO of HoMedics. The "House Without Wires" Earlier this year, PowerMat began construction on the first-ever 'House Without Wires', a joint venture in partnership with Denpeki, a leading Japanese developer of advanced construction products designed to create a cleaner, safer, more efficient, and environmentally compatible alternative to construction materials currently in use. This highly ambitious collaboration is setting a new standard in the construction industry by developing and commercializing the SmartWall, an industrial sheetrock embedded with PowerMat's wireless solution. The SmartWall, with the ability to transmit wireless power and data to receivers connected to or embedded in electronic devices of all kinds, enables virtually any surface to become an alternate method for power distribution, replacing electrical sockets and docking stations. About PowerMat PowerMat provides a one-step solution for simultaneously delivering power to multiple electronics - including cell phones, laptops, and PDAs - so that batteries are never exhausted and wires are obsolete. Ran Poliakine, former founder and CEO of Magink Display Technologies, founded PowerMat Ltd. (www.PowerMatdigital.com) in Neve Ilan, Israel in 2007 as a tool of convenience to address the stresses and hassles of multiple chargers needed for operating multiple electronic high-and-low- power devices. About HoMedics Founded in 1987 by Ron Ferber and Alon Kaufman, HoMedics (www.homedics.com) began as a manufacturer of at-home massagers. Today, the family-owned business manufactures and markets more than 250 personal care products, which are available to consumers at 50,000 retail outlets in over 60 countries. Based in Commerce Township, Michigan, HoMedics is an industry leader across all divisional categories, including massage, diagnostics, weight management, sensory and relaxation, sleep solutions, and the home environment. PowerMat USA Scott Eisenstein/Joan Frier, 212-590-2436 or 2437 firstname.lastname@example.org email@example.com Copyright Business Wire 2008