The Procter & Gamble Company and Powermat Ltd.have announced that they intend to form a joint venture (JV) to bring the most innovative and compelling wireless power products to consumers around the world. As part of the strategic alliance between P&G’s Duracell brand and Powermat, P&G also expects to make an equity investment in Powermat. This makes a lot of sense to me since P&G through their Duracell brand and Powermat are the only two big names in this space. Honestly, I think that P&G will ultimately buy Powermat and become the undisputed leader in the wireless charging market which I believe will be huge in the next 3-5 years as mobile continues to explode. I mean honestly, how long before Apple contracts them out to build a wireless charger functionality specifically for the iPhone because cords aren’t “in” anymore.
It is expected that the JV will begin operation early next year. The JV will harness the capabilities of P&G and Powermat to fulfill this common vision through unrivaled innovation and global reach. In combining P&G’s strong consumer understanding, brand-building and go-to- market capabilities with Powermat’s breakthrough technology, the JV will deliver an ecosystem of best-in-class wireless power solutions, under the aegis of the foremost brands in the field of portable power: Duracell and Powermat. Powermat has been chosen by General Motors and will be integrated into its cars as of 2012.