Rapper Jay-Z to invest in wireless recharging co Powermat

Jay-Z: I believe in the future of wireless energy and I believe that Duracell Powermat is the company to bring on the revolution.

10 January 12 18:52, Roy Goldenberg

US rapper and music producer Shawn Carter, better known as Jay-Z, is to invest in and promote Israeli wireless recharging company Powermat Technologies. Jay-Z whose singer wife Beyonce gave birth to their first child this week, announced his partnership with the joint venture between Powermat and Proctor & Gamble unit Duracell during the 2012 International CES in Las Vegas.

Jay-Z will invest several million dollars in the venture and he also signed a multi-year global agreement to be the face and voice of the Duracell Powermat JV.

He said, “I believe in the future of wireless energy and I believe that Duracell Powermat is the company to bring on the revolution. I’m partnering with Duracell Powermat because they’re providing the solutions for the future.”

Powermat's products enable users to charge their devices wirelessly by placing them on the special surface. Each device individually pairs with the charging mat, which automatically stops sending power once the device is fully charged. Devices need to have a special case or replacement battery door, but the company said it expects to have the receiver built into devices.

Powermat CEO Ran Poliakine said, “Jay-Z is power personified. He inspires millions of people all over the world on a daily basis with his music and his story. There is no better face or voice that can move people to adopt a new paradigm in power delivery.”

Jay-Z is not the first celebrity to invest in an Israeli start up. In October Leonardo DiCaprio invested in visual media platform developer Mobli Ltd..

Published by Globes, Israel business news - www.globes-online.com - on January 10, 2012

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