Solace Power Receives Funding to Accelerate Commercialization of Its Wireless Power Technology
MOUNT PEARL, NL, September 29, 2017 – Solace Power Inc. today announced a $500,000 contribution from the Atlantic Canada Opportunities Agency (ACOA) to accelerate the commercialization of its wireless power technology. The conditionally repayable contribution, provided through ACOA’s Business Development Program (BDP), will help Solace undertake business development and marketing activities in commercial markets.
Solace’s Resonant Capacitive Coupling technology or RC²™ is an innovative wireless charging system that uses electric fields to transfer power. It provides a high degree of spatial freedom and can be integrated into products and applications with minimal modification to the product’s design. The versatility of RC² has been demonstrated in numerous markets including aerospace and defence; and the automotive, medical device, and office furniture manufacturing industries.
“We are pleased to have ongoing support from ACOA for the commercialization of our RC² technology. This funding will enable us to ramp up our business development and marketing initiatives over the next 18 months in our key markets,” said Kris McNeil, Founder and President of Solace Power.
“Through the Innovation and Skills Plan, the Government of Canada is committed to investing in dynamic businesses such as Solace Power, which are helping to create a more robust, innovative Atlantic economy. This investment will help Solace Power to develop clean technology, increase growth through exporting and maintain highly skilled jobs in this region,” said the Honourable Seamus O’Regan, Minister of Veterans Affairs and Member of Parliament for St. John’s South-Mount Pearl, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA.
About Solace Power
Solace Power is a wireless power research and development company that licenses its RC² technology for applications in the UAV, medical device, office furniture and automotive markets. RC² uses electric fields, which enable a high degree of spatial freedom and misalignment, while allowing flexible and conformal end product design. Solace’s RC² technology has won numerous awards, including the Sikorsky Entrepreneurial Challenge and the ACADA Innovation Leader Award. For more information, visit www.solace.ca or twitter.com/solacepower