CAMPBELL, CA--(Marketwired - Sep 27, 2016) - Inventergy Global, Inc. (NASDAQ: INVT), ("Inventergy") an intellectual property licensing company, announced today that Pabellon, Inc. ("Pabellon"), one of the new partners of Inventergy Innovations, LLC, Inventergy's recently launched subsidiary, is currently engaged with a Fortune 100 company to create a proof of concept (POC) to demonstrate its breakthrough Surface Plane Magnetic Technology™ to continuously charge remote internet devices. The power, sent via Pabellon's surface plane magnetics will be extracted by miniaturized, patented Pabellon receivers mounted on sensory devices. Power is delivered to remote sensing devices and return path data is extracted from these devices to create "smart" sensing environments for many applications.
As part of the engagement, Pabellon plans to demonstrate power, data and sensory applications, which are enabled using Pabellon's surface plane magnetic technology. Importantly, data can be transmitted via secure modulation techniques using Pabellon's technology. Miniaturized receivers can also sense disturbances for security applications.
Joe Beyers, CEO of Inventergy, stated, "Launching this POC demonstrates the significant value opportunity we create for our partners through a unique monetization model that can quickly provide commercialization opportunities on a much larger scale. In less than 10 weeks after forming a partnership with Inventergy Innovations, Pabellon is now heavily engaged with a large multi-national company. We will continue to seek opportunities with targeted investment, shorter time for execution, lower up-front capital outlays and lower operating costs, generating higher returns that can expand our revenue opportunities for our stakeholders."
"We believe that Pabellon's technology can remove barriers impairing the conventional wireless power transfer industry, enabling last mile complete solutions. Pabellon's patented technology opens up unprecedented connectivity for non-radiative power, data and sensing applications," stated Ken Cannizzaro, President of Inventergy Innovations. "The market opportunity for this technology is growing rapidly in a number of potential multi-billion dollar market segments."
"We are confident that this POC will have a positive outcome and demonstrate the value of our innovative technology," said Alex Rubin, CEO and Founder of Pabellon, Inc. "We are also delighted with our engagement with Inventergy. They have helped us to enrich and enhance our IP protection, and refine and focus our value proposition, leading up to this exciting new engagement."
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
About Pabellon, Inc.
Pabellon's technology enables connector-less, wireless power /data transfer and remote sensing applications for mobile, IoT (Internet of Things) and lighting applications. Pabellon's Surface Plane Magnetic Technology™ sends an oscillating magnetic field along the surface of objects such as desks, walls, pipes and fabrics to miniaturized receiver devices that can extract power and data. Disturbances in the field are detectable by the receiver devices, enabling sensory applications such as human presence detection and touch-free controls.
Pabellon's technology is aimed at the markets for wearables, intrusion detection, as well as toys and lighting which each offers multiple billion dollar addressable markets. According to research firm MarketsandMarkets, the wearable technology market is expected to reach $31.3 billion by 2020, at a CAGR of 17.8% between 2015 and 2020. MarketsandMarkets reported that the global intrusion detection system/intrusion prevention (IDS/IPS) security market was estimated at $2.7 billion in 2014 and is expected to grow to $5.0 billion in 2019.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent and belief or current expectations of the Company and its affiliates and subsidiaries and their respective management teams. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "should," "seek" and similar expressions and include any projections or estimates set forth herein. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, that actual results may differ materially from those projected in the forward-looking statements.