Molex Incorporated has signed a definitive agreement as a strategic partner and investor in Chicago-based NuCurrent, a developer of wireless power antenna technology. NuCurrent created a breakthrough in novel structures for low resistance antennas, initially for the medical device market. It now offers custom design and fabrication of high-efficiency inductors geared toward specific functions with a growing focus on wireless power applications in the consumer sector. With 34 patents granted or pending globally, NuCurrent has built and continues to develop a comprehensive portfolio.
Molex is committed to designing high-performance solutions, from the smallest microminiature interconnects to the highest performance cable assemblies, in the most demanding global industries. “NuCurrent’s wireless power antenna capabilities dovetail with our business strategy of helping customers bring pioneering products to market,†said Lily Yeung, director, business development, Molex. “Wireless device charging has the potential to drastically change how the world powers its phones and other portable devices and Molex is thrilled to be involved in the early stages of this emerging technology.
“NuCurrent is an excellent strategic fit with high growth potential by leveraging Molex’s manufacturing expertise, distribution channels and sales reach. As a partner, Molex can provide system integration that will provide higher-level solutions to new and existing customers. Molex designs, develops and manufactures custom antennas and antenna assemblies for wireless applications (cellular, WiFi, Bluetooth, UMTS, WIMAX, GPS, etc.) manufactured for major OEMs and ODMs in aerospace and defense, automotive, alternative energy, commercial vehicles, industrial automation, medical, scientific, solid state lighting, smart phones and mobile devices, and telecommunications and networking industries,†Yeung concluded.
“Being able to tap into the engineering expertise at Molex, as well as the global reach of its manufacturing capabilities and sales force, will be an enormous benefit for NuCurrent,†said Jacob Babcock, founder and CEO, NuCurrent. “The evolution of our company has been incredibly exciting and we look forward to the future as we partner with Molex to expand the reach of our innovative solutions.
“NuCurrent improves wireless charging by structuring antenna materials differently in order to increase performance and efficiency. NuCurrent completed the necessary groundwork developing the technology, procuring initial funding, and a positive revenue stream. Molex brings the technology commercialization expertise to scale up production and deliver on customer-driven projects more efficiently, while helping to take the company to the next level of worldwide marketing and sales,†concluded Babcock.
NuCurrent was one of the portfolio of companies presented during the Illinois Science and Technology Coalition’s Corporate Start-up Challenge in 2013. The program was designed to bring together Fortune 1000 companies and start-up businesses with a goal to foster innovation and advance a strong Illinois economy.
