Wireless Advanced Vehicle Electrification (WAVE) secured Series A Extension funding to continue growth and development of WAVE’s state-of-the-art Wireless Power Transfer (WPT) technology.
“This capital gives us the resources to expand strategically and truly refine our product offering for deployment,” said Michael Masquelier, CEO of WAVE. “We are excited to realign our focus as WAVE enters its next phase.”
WAVE’s WPT technology is the world’s most powerful and efficient single pad wireless charging system ever deployed by a U.S. company for mass transit. Recently celebrating its fourth year in operations, WAVE is currently working on development of a higher power product to add to its portfolio of product offerings and will continue business and execution of contracts as planned.
Over the past 16 months, WAVE has deployed a number of projects including Utah Transit Authority’s full service 50kW system and Monterey Salinas Transit’s commercial service waterfront trolley. Texas’ McAllen Metro will be introducing two electric buses with WAVE wireless charging into their Green Line service in January 2016. Additional projects with Antelope Valley Transit Authority, Central Contra Costa Transit Authority and Long Beach Transit are currently underway.
“As demand for our solutions continue to grow, we are looking forward to securing future partners to help further accelerate the company’s pace of product innovation and fulfillment,” said Masquelier.