Solace Power Inc., which makes wireless power technology, has signed a multi-year licensing agreement with Byrne, a leading power and data solutions company located in Rockford, Michigan.
Solace said in a statement Wednesday that Byrne will integrate Solace's Resonant Capacitive Coupling technology – known as RC² -- into its mobile power solutions for commercial office, education and healthcare furniture.
Based in Mount Pearl, NL, Solace Power specializes in wireless power – that is, delivering electrical energy to batteries or devices without any wires attached to them. It works on projects for specific customers and then licenses the technology to them. In June, Solace Power said it had received $2.8 million in government financing to expand its lab into one of the leading facilities of its kind in the country. At the time, Solace had 30 employees (20 of them engineers) and was on its way to expanding that number to 35.
According to BIFMA, an industry-leading 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 percent.
"RC² will enable us to deliver new solutions to our customers who are among the most innovative companies in the world," said Byrne CEO Dan Byrne in the statement. "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."
Solace said its patented RC² technology is an adaptable, lightweight wireless power system that enables freedom of movement in charging, while facilitating flexible product design. Products and applications can charge when they are adjacent to, or in the vicinity of the transmitter, giving users increased freedom of movement.
Solace has won numerous innovation awards for its technology, including the Sikorsky Entrepreneurial Challenge and the Innovation Leader Award from ACADA, the Atlantic Canada Aerospace and Defence Association.
"We are delighted to partner with a market leader like Byrne in developing high-quality products for our RC² technology," said Kris McNeil, Founder and CEO of Solace Power. “They're a perfect fit for licensing our technology as we continue to execute on our strategies for growth and profitability. We are excited to be a part of their vision to continually improve their customers' experience."