Amway Parent Selling Wireless Power Business Unit
ADA — The parent company of Amway Corp. is looking to sell the intellectual property of its wireless power systems, which carry the eCoupled brand name.
Amway developed wireless power several years ago for its eSpring water filtration products. The systems use inductive coupling, which sets up a magnetic field that acts on a magnet near the field to produce power, without a direct wired connection being necessary.
Amway parent Alticor Inc. set up a company called Fulton Innovation, named after the company’s Fulton Street address, to invest in the research, development and commercialization of wireless power for consumer electronics and automotive applications. Fulton Innovation developed eCoupled and more than 240 patents worldwide with another 480 patents pending. Fulton Innovation also has played a leading role in establishing the global standard in wireless power, called Qi, and the international Wireless Power Consortium that networks more than 100 industry players.
“While the wireless power market is gaining momentum, Alticor’s primary focus is offering business opportunity in the health, wellness and beauty industries,” Alticor vice president Jim Weaver said in a statement. “We are seeking a buyer that is well-positioned to accelerate adoption of wireless power and to maximize the potential of eCoupled intellectual property.”
Alticor intends to work with the eventual buyer to honor and support existing licensing agreements. Amway plans to retain licensing to intellectual property used in eSpring products sold by Amway distributors.
There was no immediate word on the future of Fulton Innovation’s staff in Ada.