Molex invests in NuCurrent
Leading global interconnect and cable assembly provider Molex Inc., Lisle IL, has signed a definitive agreement as a strategic partner and investor in Chicago-based NuCurrent, developer of wireless power antenna technology.
NuCurrent created a breakthrough in novel structures for low resistance antennas, initially for the medical device market. It now offers custom design and fabrication of high-efficiency inductors geared toward specific functions with a growing focus on wireless power applications in the consumer sector. With 34 patents granted or pending globally, NuCurrent has built and continues to develop a comprehensive portfolio.
“NuCurrent’s wireless power antenna capabilities dovetail with our business strategy of helping customers bring pioneering products to market,” says Lily Yeung, director, business development, Molex. “Wireless device charging has the potential to drastically change how the world powers its phones and other portable devices and Molex is thrilled to be involved in the early stages of this emerging technology.”
“Being able to tap into the engineering expertise at Molex, as well as the global reach of its manufacturing capabilities and sales force, will be an enormous benefit for NuCurrent,” adds NuCurrent founder and CEO Jacob Babcock.
NuCurrent was one of the portfolio of companies presented during the Illinois Science and Technology Coalition’s Corporate Start-up Challenge in 2013. The program was designed to bring together Fortune 1000 companies and start-up businesses with a goal to foster innovation and advance a strong Illinois economy.