By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Pure Energy Visions, the Canadian provider of environmentally responsible rechargeable battery products, and wireless power technology provider WildCharge announced their intention to jointly develop wireless power solutions using rechargeable battery technology.
The companies are forming a yet-to-be-named, equally owned joint venture, to be headquartered in WildCharge's home city of Boulder, Colo. Pure Energy and WildCharge intend to license their technologies, subject to existing agreements, and transfer certain other assets and liabilities to the joint venture.
The new company will be responsible for the development, commercialization, marketing and worldwide distribution of both Pure Energy and WildCharge products and technologies.
Dennis Grant, CEO of WildCharge, would be chairman/CEO of the new company and lead the team that will drive sales of Pure Energy's and WildCharge's existing and soon-to-be released products.
Grant anticipates that additional employees, particularly in sales and marketing, will be added to support planned growth.
The companies are currently in an exclusive 120-day negotiating period to finalize the details of the venture. A statement by Pure Energy noted that “the contemplated transaction is subject to completion of a number of items, including finalizing structure, legal documentation and due diligence, approval of the final form of the transaction by the respective boards of directors of Pure Energy and WildCharge and obtaining any required corporate and third-party consents, including any required approvals from the TSX Venture Exchange.”
Paul Simmonds, Pure Energy's president and CEO, commented: “Our companies share a unique vision of where wire-free and rechargeable battery technology is headed and strongly believe that through forming this partnership we will become the market leader in this high-growth category. This is a tremendous opportunity for Pure Energy and its shareholders, and we are confident that this combination will significantly impact the future of sustainable, portable power.”
WildCharge's Grant added: “Our combined solutions, which independently already hold a superior position in the market, will make this a truly green company focused on developing convenient, cost-effective and environmentally responsible technologies that power our daily lives, at home, where we work and when we are on the go.”
Pure Energy contended its rechargeable alkaline batteries are the only rechargeable batteries that can be used in any application that uses disposable alkaline batteries. Their rechargeable alkaline batteries do not contain heavy metals and offer several well-tested performance and cost advantages in a number of OEM products over other rechargeable batteries, including an industry leading seven-year shelf life — 40 times longer than typical rechargeable NiMH batteries.
WildCharge's technology enables licensees to deliver wire-free charging to a variety of devices that require varying amounts of power. Devices such as cellphones that require only a few watts of power to laptops that need more than a hundred watts can be powered from a single, contiguous and non-discriminating charging surface.
WildCharge said it offers licensees the opportunity to bring new designs to market quickly through a reference design library that features wire-free products that have been conceived, engineered and tooled, and for which a supply chain has been pre-established.
Products currently available through the WildCharge reference design library include the WildCharger Pad, gel-skin adapters for BlackBerry devices and soon Apple devices, “and universal solutions for hundreds of different mobile devices,” according to the company.
Many of the products in the reference design library are also available for purchase by consumers on www.wildcharge.com.
Pure Energy is a consumer and commercial products company focusing on cost-effective, environmentally responsible products and a leading supplier of rechargeable battery products sold under private label and under the Pure Energy brand. More information on the company is available at www.pureenergybattery.com.
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