PowerbyProxi

[SimonHouse]

Reported in the NZ Herald this morning that PowerbyProxi will be raising $30-$40m dollars, probably via an NZX listing later this year.

Wireless charging technology developer PowerbyProxi wants to have a $30 million to $40 million capital raising this year, possibly through an NZX listing, which will fund growth including a dramatic increase in the size of its engineering team.

The Auckland-based company - whose systems are used for a range of applications, including Samsung smartphones - has been talking to investment bankers and institutional investors to gauge market interest in a possible float.

Chief executive Greg Cross said the only way to locally raise the kind of cash PowerbyProxi required was through a stock exchange listing.
He said the funding could also come from Asian venture capitalists, but he would prefer PowerbyProxi to have as many Kiwi shareholders as possible.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11274560

They already have Samsung as a customer. CEO Greg Cross appears to be a highly regarded name in the tech space.

[Harvey Specter]

Interesting tech. Can see how it can be monetised but will they be able to charge a premium or will they be another Rakon/Wellington Drive

[blah]

They already have Samsung as a customer.

My recollection was that Samsung had actually invested in PowerbyProxi. I look forward to finding more about the company.

[Harvey Specter]

My recollection was that Samsung had actually invested in PowerbyProxi. I look forward to finding more about the company.They invested US$4 at a $32m valuation from memory (in todays NBR article).
They should also be commercialising the tech next year - ie. in the next Galaxy smart phone.

[blocker3]

Can not wait till the IPO. I am impressed .

REF below video to watch

http://powerbyproxi.com/2014/02/the-future-of-wireless-power-with-powerbyproxi-2/

[RGR367]

Can not wait till the IPO. I am impressed .

REF below video to watch

http://powerbyproxi.com/2014/02/the-future-of-wireless-power-with-powerbyproxi-2/

Would be interesting to follow this as a shareholder if and ever we get on early from IPO. But doubting a public pool for it. Another land grab surely for the big guys.

[MAC]

I’m only really just starting to look into this one, it’s interesting but not new technology, wireless power transfer has been around for over 100 years now.

The degree of success of the company may come down to the robustness of the specific patents as they relate to any edge Powerbyproxi have over similar competitive products using the same age old form of power transfer but yet with different patented control system methods.

http://powerbyproxi.com/consumer-electronics/ip-portfolio/

Powerbyproxi use Dynamic Harmonization Control, competitors may use any other form of control system. There are many electrical engineering control optimisation methods available in offering this method of power transfer to the market.

http://powerbyproxi.com/consumer-electronics/dynamic-harmonization-control/

Having said that, if the robustness of their IP can be gauged by market penetration thus far, they may be doing ok, although this could have come through being a first mover, it’s hard to say, either way they seem to be doing well.

I’d want to know more about what the capital will be used for, and some assurance that a listing during a period of debatably tech exuberance isn’t just a means of the founders deservedly cashing in a little for a mansion and a fast car.

Has anyone a list of competitive products ?

[Harvey Specter]

Has anyone a list of competitive products ?The NBR goes through a bit of this:

http://www.nbr.co.nz/article/powerybyproxi-wants-another-40m-nzx-table-ck-157735 (Paid)

Summary is theirs is better than what is on the market at the moment and they currently have theirs working which other competitors don't (atleast in public)

[blah]

At the consumer end, I have heard of Qi as the wireless charging standard: http://en.wikipedia.org/wiki/Qi_(inductive_power_standard). Select Nokia phones have had a wireless charging capability.

I know too little of engineering to understand how it and other technologies work, so can't really speak of competitive advantage. From Harvey's NBR article, the company mentions that PowerbyProxi's technology is superior to the rest in that it is capable of transmitting more power. This means that more consumer devices can be charged in one go and done so quicker. It also opens up industrial applications.

[MAC]

These links could be of interest - easy & common technology, nothing stunning IMO:

HyperLink: Wireless Charging (https://www.google.com/webhp?sourceid=chrome-instant&rlz=1C1CHWA_en-gbNZ574NZ574&ion=1&espv=2&ie=UTF-8#q=iphone+wireless+charging&revid=423046392)

HyperLink: Inductive Charging (https://www.google.com/webhp?sourceid=chrome-instant&rlz=1C1CHWA_en-gbNZ574NZ574&ion=1&espv=2&ie=UTF-8#q=induction%20charging%20iphone)

HyperLink: How Wireless Power Works (http://electronics.howstuffworks.com/everyday-tech/wireless-power.htm) - 4 pages.

The patents seem to be product specific too rather than concept encompassing. So it’s really just an investment like any other, in one company of several delivering within it’s target market.

They are looking for up to $40M in a market potentially worth US$15B by 2020, IMO it will just ultimately will come down to ones determination of a risk/reward position at IPO time.

Often electronics hardware companies only really ultimately prosper if they survive long enough to achieve very high volumes and very low cost production.

Rakon sell capacitors to cell phone companies and could never quite get there.

Hopefully, powerbyproxi can provide prospective investors with evidence of some sort of an edge over the big boys who can switch their existing Asian mega production lines over to producing competitive products at will.

It’s very high risk, I’d be looking for equally high reward at IPO time.

I suspect though we won’t see it, powerbyproxi at present can, and so probably will, raise capital by appealing to tech exuberance, but I would like to be proven wrong.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11274560