Amway wants to exit wireless charging business | Business
Written by Joe Boomgaard
ADA — Amway parent company Alticor Inc. looks to cut the cord on the intellectual property behind eCoupled, the wireless charging technology it developed and nurtured over a decade, by finding a buyer to take it to the next level.
Alticor took the unusual step earlier this month of announcing in a press release that it planned to sell the wireless charging IP developed by its subsidiary, Fulton Innovation, an internal skunk works division that works on product innovation.
The company initially created the technology to power its eSpring line of UV water filters, but handed it over to Fulton Innovation to see where else the technology could be applied. That put the company into unfamiliar territory, consumer electronics, which could be fitted with adaptive devices that allowed for wireless charging.
Now, the company said the technology is rapidly evolving to the point where it would better to hand off the technology to a new suitor who could expand its adoption and scope.
“It’s a good time to sell the IP and exit the business, really to give the business the opportunity to expand with an owner in the business of consumer electronics or computer...