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Duracell joins forces with Powermat

By Associated Press
September 15, 2011

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SAN FRANCISCO - Procter & Gamble Co.’s Duracell battery unit is partnering with Powermat Ltd., hoping to get cellphone users to ditch their traditional power chargers. The companies are teaming up to make charging mats and receivers that wirelessly juice up cellphones and other small electronics.

The joint venture, called Duracell Powermat, will allow Powermat to reach a much larger audience and give Duracell a leg up in a market in which it has not been that successful.

Together, they are aiming to turn wireless charging devices into a familiar accessory.

“What comes out of this partnership eventually, if we’re successful, is people who buy a smartphone or tablet five, six years from now will expect wireless power built into it,’’ said Powermat chief executive Ran Poliakine.

P&G will own 55 percent of the joint venture, and Powermat will own 45 percent. The companies wouldn’t give financial details of the deal, but did say that Powermat will receive an equity investment from P&G.

They expect the deal to be finalized - and operations to be running- in early 2012.