Inventergy Global Inc. (INVT), the patent licensing company run by CEO Joe Beyers, said Pabellon Inc., one of the partners of its Inventergy Innovations unit, which is working with startups to monetize their patents, has engaged with a Fortune 100 company on a proof of concept of its new surface plane magnetic technology.
The identity of the Fortune 100 company was not disclosed the press release. Officials of Campbell, California-based Inventergy said the incremental cost is low as it is mostly using existing devices and components. The project will be completed over a small number of months.
Inventergy said Pabellon’s technology continuously charges remote internet devices. The power, sent via Pabellon's surface plane magnetics is extracted by miniaturized, patented Pabellon receivers mounted on sensory devices. Power is delivered to remote sensing devices and return path data is extracted from these devices to create "smart" sensing environments for many applications.
The companies said as part of the engagement, Pabellon plans to demonstrate power, data and sensory applications, which are enabled using Pabellon's surface plane magnetic technology. Importantly, data can be transmitted via secure modulation techniques using Pabellon's technology. Miniaturized receivers can also sense disturbances for security applications.
"Launching this POC demonstrates the significant value opportunity we create for our partners through a unique monetization model that can quickly provide commercialization opportunities on a much larger scale,” Beyers said.
Beyers said in less than 10 weeks after forming a partnership with Inventergy Innovations, Pabellon is now heavily engaged with a large multi-national company.
“We will continue to seek opportunities with targeted investment, shorter time for execution, lower up-front capital outlays and lower operating costs, generating higher returns that can expand our revenue opportunities for our stakeholders."
Ken Cannizzaro, president of Inventergy Innovations, added that Pabellon's patented technology opens up unprecedented connectivity for non-radiative power, data and sensing applications.
“The market opportunity for this technology is growing rapidly in a number of potential multi-billion dollar market segments,” he said.
Pabellon founder and CEO Alex Rubin said he was “confident that this POC will have a positive outcome and demonstrate the value of our innovative technology.”
Rubin added that Inventergy Innovations “helped us to enrich and enhance our IP protection, and refine and focus our value proposition, leading up to this exciting new engagement.”
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