A Swedish company looks to replace disposable batteries in electronic gadgets with its revolutionary light-harvesting power cells, branded Powerfoyle.
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Stockholm-based Exeger has developed a new type of solar cell that can convert any type of light into electrical energy. Its Powerfoyle technology is already being integrated into products from 3M (MMM), Adidas (ADDYY), Philips (PHG), Urbanista, Voxx (VOXX) and more.
Powerfoyle cells can take any shape. They can be molded into the charging cases for earbuds, the chassis of TV remote controls and the headbands of radio headsets, for instance.
Exeger is a green tech company both in the manufacturing of its products and in their impact on the environment, Giovanni Fili, founder and chief executive, told Investor’s Business Daily.
“We have seven products on the shelf so far,” Fili said at the CES 2024 tech trade show last week. And Exeger announced six new products using its Powerfoyle tech at CES.
Powerfoyle eliminates the need for single-use batteries and even charging cables because the devices become self-powered. The company’s light-harvesting technology works with solar power and indoor lighting.
Powerfoyle Becoming Ingredient Brand
Powerfoyle is fast becoming an ingredient brand that its customers use to promote their products, Fili said. In a way, it’s like Intel (INTC) chips with that company’s “Intel Inside” branding on personal computers. Other ingredient brands include Dolby (DLB) and Gore-Tex.
“Our customers are marketing our product, our brand name,” Fili said. “We expand their brand value.”
Exeger has raised $200 million in funding and is ramping up its second factory. When fully ramped, it will be able to produce 27 million square feet of solar cells per year, he said.
“We can replace 1 billion disposable batteries per year with that factory alone,” he said.
Other companies at CES 2024 also were promoting light-harvesting power cells. They included Ambient Photonics, Dracula Technologies and Solaires.
Fili said those are startups that are years behind Exeger in product development.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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