News

NGCN Launches Wireless Power Association & Wireless Power Fund

December 17, 2009 by Jeff Shepard

Nutrition/Green Capital Network (NGCN) announced the launch of the Wireless Power Association and Wireless Power Fund. The Wireless Power Association’s Wireless Power Fund is a $250M investment initiative that will provide funds, market insight and technical support to innovators of ideas and products that extend the revolutionary new invention of wireless electric power.

Managed by NGCN Partner Thomas Aarts, the Fund invests in both young and established companies creating wireless electric power components, applications, products and services. Focus areas include, but are not limited to, communications, household consumer electronics as well as travel and entertainment applications that build on wireless electric power platforms.

"A revolutionary new platform is a rare and prized opportunity for entrepreneurs, and that’s exactly what MIT has created with Witricity," said Tom Aarts. "We think several significant new companies will emerge as this new platform evolves, and the Wireless Power Fund™ will empower them to realize their full potential."

"OEM’s, entrepreneurs, and innovators are already bursting with ideas for Wireless Power, and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists," said Brian King, the funds CEO. "We can’t wait to start working with NGCN and the companies they fund through this new initiative."