WiTricity, a Watertown company that licenses technology with such potential applications as allowing electric cars and consumer-electronics devices to wirelessly recharge their batteries, announced Thursday an intellectual property license agreement with automaker Toyota Motor Corp., which made an equity investment in WiTricity in 2011.
Under the intellectual property license agreement announced Thursday, Toyota will “offer wireless charging power capture devices on their future rechargeable hybrid electric and battery electric vehicles,” WiTricity said in a press release. “Compatible wireless charging sources will be manufactured by third party charging system suppliers, under license from WiTricity.”
According to WiTricity, its technology delivers electric power safely over distance and eliminates the need for the charging cable that is required for electric vehicles and plug-in hybrid vehicles now on the market.
“WiTricity’s mission is to make wireless charging available as widely as possible, and this announcement is a significant step toward accomplishing that mission,” WiTricity chief executive Eric Giler said in a statement. “We envision a world in which wireless charging accelerates the adoption of clean, green electrified vehicles. To have Toyota, the world’s leading carmaker, licensing our intellectual property, underscores the importance of the technology.”
In October, WiTricity said it had secured $25 million in Series E financing, bringing the total amount of funding it had raised to that point to $45 million.
The company sees its technology as having applications for consumer electronics, defense applications, and medical devices as well as for electric vehicles.