FOR IMMEDIATE RELEASE
DANVILLE, CA, Nov. 8, 2018, /PRNewswire/ — PowerSphyr, Inc. today announced an increased investment from Faurecia, one of the world’s leading automotive technology companies.
“This is the ultimate ‘smart money’ investment given Faurecia’s commitment to deliver the truly connected car,” said Neil Ganz, President, and CEO. “This investment brings embedded wireless power to the global automotive market.”
This Series A fund investment will accelerate PowerSphyr’s design, development, and delivery into the multi-billion-dollar automotive OEM market. Starting in 2020, Faurecia will be delivering a full suite of wireless power solutions Enabled by PowerSphyr™.
“Seamless wireless power delivery is an important cornerstone to enhance unique user experiences inside the Cockpit,” said Guillaume Peronnet, VP of Strategy at Faurecia in North America. “We are investing in PowerSphyr’s best-in-class technology to accelerate our vision, strategy, and execution of wireless power embedded into the next generation of smart and connected Cockpits.”
Providing wireless power solutions to build a Connected World, Unplugged™. PowerSphyr delivers end-to-end innovative wireless power charging solutions for the automotive, consumer and industrial markets. PowerSphyr supports the three key industry standards for wireless power charging: Magnetic Induction; Magnetic Resonance; and RF Energy Harvesting. For more information visit www.powersphyr.com. Follow us on Facebook at www.facebook.com/PowerSphyr or Twitter at www.twitter.com/powersphyr and find us on LinkedIn at www.linkedin.com/company/powersphyr-inc.
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 290 sites including 30 R&D centers and 109,000 employees in 35 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems, and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2017, the Group posted total sales of €17.0 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.com