First sales of demonstration units by an Inventergy Innovation's Partner
CAMPBELL, CA -- (Marketwired) -- 04/10/17 -- Inventergy Global, Inc. (NASDAQ: INVT), an intellectual property licensing company, announced today that Pabellon, Inc., one of the new partners of Inventergy Innovations, LLC, Inventergy's subsidiary, has developed prototype demonstration units for an automotive parts supplier for advanced automotive applications. These demonstration units, which were funded by the automotive parts supplier, provide cars with wireless charging, sensing, data and security application functions and are being evaluated for future inclusion in smart vehicles.
Pabellon's prototype demonstration units incorporate its breakthrough Surface Plane Magnetic Technology™ that enables wireless charging, sensing, and data collection, all of which are key elements in the development of future automotive applications.
Joe Beyers, CEO of Inventergy commented, "Pabellon is now heavily engaged with a large multi-national company, further proving the significant value opportunity we create for our partners through a unique monetization model that can quickly provide commercialization opportunities on a much larger scale. We will continue to seek opportunities with targeted investment, shorter time for execution, lower up-front capital outlays and lower operating costs, which we believe will allow us to generate higher returns that can expand our revenue opportunities for our stakeholders."
"We believe that Pabellon's technology can remove barriers impairing the conventional wireless power transfer industry, to enable multi-industry solutions. Pabellon's patented technology opens up unprecedented connectivity for non-radiative power, data and sensing applications," stated Ken Cannizzaro, President of Inventergy Innovations. "The market opportunity for this technology is growing rapidly in a number of potential large market segments."
"We are excited about delivering these units in high value applications that validate our innovative technology," said Alex Rubin, CEO and Founder of Pabellon. "We are also delighted with our engagement with Inventergy. They have helped us to enrich and enhance our IP protection, and refine and focus our value proposition, leading up to this exciting new engagement."
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
About Pabellon, Inc.
Pabellon's technology enables connector-less, wireless power /data transfer and remote sensing applications for mobile, IoT (Internet of Things) and lighting applications. Pabellon's Surface Plane Magnetic Technology™ sends an oscillating magnetic field along the surface of objects such as desks, walls, pipes and fabrics to miniaturized receiver devices that can extract power and data. Disturbances in the field are detectable by the receiver devices, enabling sensory applications such as human presence detection and touch-free controls.
Pabellon's technology is aimed at the markets for wearables, intrusion detection, automotive and lighting, which each offers multiple billion dollar addressable markets. According to research firm MarketsandMarkets, the wearable technology market is expected to reach $31.3 billion by 2020, at a CAGR of 17.8% between 2015 and 2020. MarketsandMarkets reported that the global intrusion detection system/intrusion prevention (IDS/IPS) security market was estimated at $2.7 billion in 2014 and is expected to grow to $5.0 billion by 2019.
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Source: Inventergy Global, Inc.