HoMedics/PowerMat Enter Joint Venture to Deliver Invisible Connectivity for Safe,...

Mon Jul 28, 2008 10:00am EDT

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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

Copyright Business Wire 2008