PowerbyProxi Announces $5m in Series C Funding; TE Connectivity and PowerbyProxi Announce Partnership to Develop Industrial Wireless Power Solutions

Tue Apr 16, 2013 9:01am EDT

* Reuters is not responsible for the content in this press release.

PowerbyProxi Announces $5m in Series C Funding; TE Connectivity and PowerbyProxi
Announce Partnership to Develop Industrial Wireless Power Solutions

- TE takes equity stake in PowerbyProxi; New ARISO Contactless Connectivity Platform
brings wireless power to new industrial applications

DARMSTADT, Germany and PLEASANTON, California, April 16, 2013 /PRNewswire/ --TE
Connectivity (NYSE : TEL), a world industry leader in connectivity solutions, and
PowerbyProxi, (http://www.powerbyproxi.com [http://www.powerbyproxi.com/]) developer of
the world's most advanced and safest wireless power system, today announced a new
partnership combining TE's history and market position in the industrial connector space
with PowerbyProxi's expertise and intellectual property in wireless power. PowerbyProxi
today also announced it has closed a $5 million Series C funding round. TE has taken an
equity stake in PowerbyProxi and existing investor, New Zealand venture capital firm,
Movac, also participated in the round.

"Our proven innovation and miniaturization in the field of wireless power transfer was
compelling to TE and we are excited to work with the TE team on the future of wireless
power " said Greg Cross, Executive Chairman of PowerbyProxi. "This new round of
investment demonstrates faith in the growth of this sector and the milestones we have
achieved. We will use the funds to grow our international sales and customer support
structures and to accelerate the development of new technology platforms," said Cross.

TE Partnership Creates Innovation

The first outcome of PowerbyProxi's partnership with TE is the ARISO Contactless
Connectivity Platform, a miniaturized contactless connectivity solution, small enough to
be easily integrated into new applications for industrial machinery and equipment. The
new line of non-contact couplers, being sold and marketed by TE, incorporates
PowerbyProxi's Proxi-Wave technology, which is ideal for miniaturization. The platform
offers the smallest footprint solution available for contactless power connectivity on
manufacturing machinery and equipment for sensor and control applications. 

TE is now manufacturing evaluation kits so its customers can test the hardware in their
own environments, alongside TE's field engineers. The ARISO Contactless Connectivity
system is 70% smaller than currently available systems and brings the possibility of
wireless power transfer to applications where it was previously considered impossible. 

"Our investment in PowerbyProxi highlights our commitment to contactless connectivity
and to the development of solutions to help our customers with their power connection
needs," said Ulrich Wallenhorst, chief technology officer of TE Industrial.
"PowerbyProxi possesses innovative design capabilities in wireless power transmission
that complement the TE Know How and technologies, resulting in a proven working
partnership. We look forward to working together on expanding current products and
developing new solutions."

The ARISO Contactless Connectivity platform was introduced at the Electronica and
SPS/IPC/Drives trade fairs in Germany in November 2012. For more information, visit
http://www.te.com/en/home.html [http://www.te.com/en/home.html]

About PowerbyProxi

PowerbyProxi has developed the world's most advanced and safest wireless power system.
We give consumer electronics and industrial product designers the freedom to wirelessly
transfer efficient power in the most difficult places: from a miniaturized receiver
inside a AA battery to a mission critical solution in the demanding and hostile
environment of a wind turbine control system. PowerbyProxi has worked with customers on
over 50 real world projects and built its deep technical know-how by initially focusing
on complex industrial applications. We have also created the first commercial wireless
recharging system capable of 3D power transfer, regardless of how the device is
positioned in the recharging unit. PowerbyProxi is a spin-out of the University of
Auckland's world-leading engineering department and holds an unrivaled patent portfolio
with 122 patents issued worldwide. For more information visit: www.powerbyproxi.com
[http://www.powerbyproxi.com/].

About TE Connectivity

TE Connectivity (NYSE : TEL) is a $13 billion world leader in connectivity. The company
designs and manufactures products at the heart of electronic connections for the world's
leading industries including automotive, energy and industrial, broadband
communications, consumer devices, healthcare, and aerospace and defense. TE
Connectivity's long-standing commitment to innovation and engineering excellence helps
its customers solve the need for more energy efficiency, always-on communications and
ever-increasing productivity. With nearly 90,000 employees in over 50 countries, TE
Connectivity makes connections the world relies on to work flawlessly every day. To
connect with the company, visit: www.TE.com [http://www.te.com/].

TE Connectivity and TE connectivity (logo) are trademarks. Other logos, product and/or
company names might be trademarks of their respective owners.



PowerbyProxi

CONTACT:  PowerbyProxi: Alice Chan, Bird PR, +1-415-740-8174,
alice@birdpr.com, or Adam Vasquez, TE, +49 6151 607-1143,
adam.vasquez@te.com+49 6151 607-1143 

Web site:  http://www.powerbyproxi.com/
http://www.TE.com/
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