September 25, 2011, Updated November 24, 2014

Procter & Gamble recently announced a joint venture with Israel’s Powermat, aimed at advancing wireless charging technology.

The new undertaking will be called Duracell Powermat and its aim is to globalize portable power. Duracell will also invest in Powermat.

Powermat technology allows electronic devices like smart phones, MP3 players and gaming devices to be charged wirelessly.

Financial details of the deal were not released. But it was reported that Procter & Gamble received a 55 percent stake in the joint venture, expected to begin operations early next year.

The companies believe that Powermat’s breakthrough technology added to P&G’s strong consumer understanding, brand-building and go-to- market capabilities, will make the new undertaking a top wireless power solution.

Earlier this year, Powermat signed a deal with General Motors to charge digital gadgets while driving.



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