NEWSCLOSE

Mount Pearl’s Solace Power signs licensing agreement with Michigan firm

Mount Pearl’s Solace Power signs licensing agreement with Michigan firm

Published by the Telegram 2017-09-20

Solace Power Inc., a developer of wireless power technology, has signed a multi-year licensing agreement with Byrne, a power and data solutions company located in Rockford, Michigan.

Byrne will integrate Solace’s Resonant Capacitive Coupling technology (RC²) into its mobile power solutions for commercial office, education and health-care furniture.

According to BIFMA, an industry trade association for business and institutional furniture manufacturers, the commercial furniture market is valued at more than US$18 billion in North America, with a projected annual growth rate of 3.5 per cent, Solace stated in a news release.

“RC² will enable us to deliver new solutions to our customers who are among the most innovative companies in the world,” Byrne CEO Dan Byrne stated. “Our customers want a more collaborative and customizable office user experience. Eliminating cables and providing mobile power are key drivers to make this a reality. We’re excited about Solace’s RC² technology and the enhanced product capability that we’ll be able to deliver to our customers.”

“We are delighted to partner with a market leader like Byrne in developing high-quality products for our RC² technology. They’re a perfect fit for licensing our technology as we continue to execute on our strategies for growth and profitability,” stated Kris McNeil, founder and CEO of Solace Power.

Solace’s patented RC² technology allows products and applications to charge when they are adjacent to, or in the vicinity of, the transmitter, giving users increased freedom of movement.

http://www.thetelegram.com/business/2017/9/20/mount-pearl_s-solace-power-signs-licensing-agreement-with-michig0.html