Imagine a world with no cords; no figuring out where to plug your cell phone or your toaster oven or your television. It is exactly the kind of world Ran Poliakine, CEO of Powermat, is trying to create. The kitchen in his Israel home is cord-free. When he wants to wash his coffee maker, he puts the entire thing in the dish washer. There are no cords. His kitchen appliances receive power by simply being placed on the counter, thanks in part to the wireless charging technology his company develops.
The technology was initially used to charge cell phones and hand-held devices. The way it works is simple: first you place a case with a power receiver on the device. Then you place it on a Powermat mat, which transmits charge to the battery. When the battery is full, power stops flowing to the unit, fully charging your device and saving you money on your power bill.
FORBES first reported on the company last year when the technology was just starting to take off. Since its introduction in 2009, Powermat has sold more than 3.1 million of its units around the world at retailers such as Best Buy, Target, Wal-Mart, Amazon, Bed Bath and Beyond, Staples, and Brookstone. It's the market leader with about 90 percent share. But as it continues to try and maintain dominance in an industry expected to grow over $11 billion by 2020, Powermat must find a way to integrate into people's everyday lives.
"We are trying to do to electricity what Wi-Fi did to data," said Poliakine. "We are practically eliminating the need to drag with you many, many, many cords with power supplies, enabling users to power and charge their devices without the need of cords."
So Powermat is expanding beyond hand-held devices and partnering with other device makers to install Powermat receivers in their products. For example, the company has a partnership with Haier with plans to put Powermat receivers in air conditioners, washing machines, and refrigerators.
Poliakine's strategy also involves implanting the charging technology into surface areas, such as furniture, counter tops, car dashboards, and even walls so you can hang a TV without cords. Powermat is even expected to appear in airports so travelers can easily charge their cell phones between flights.
And it's just been announced that it's implementing its technology into all 2012 GM Volt cars.
"Our vision in time is to make sure that there is an infrastructure; every table, every kitchen countertop, every hotel desk will have this infrastructure that will enable you to effortlessly just place your laptop or your cell phone or your lamp on the surface and get the right amount of power," said Poliakine.