How much money can you make from a technology that replaces electrical wires? A startup in the USA called Powercast, along with more than 100 companies that have linked agreements with it, is about to find out. Powercast and its first major partner electronics giant Phillips, are set to launch a device powered by electricity broadcast through the air.

It may sound futuristic, but Powercast’s platform uses nothing more complex than a radio - and is cheap enough for just about any company to incorporate into a product. A transmitter plugs into the wall, and a coin-sized receiver costing about $5 to make can be embedded into any low voltage device. The receiver turns radio waves into DC electricity, recharging the device’s battery at a distance of up to three feet. Picture your cell phone charging up the second you sit down at your desk, and you start to get a sense of the opportunity.

Broadcasting power through the air isn’t a new idea. Researchers have experimented with capturing the radiation in radio frequency at high power but had difficulty capturing it at consumer-friendly low power. The Powercast team have set about creating and patenting a receiver that will. Because it transmits only low, safe voltages the system won USA FCC approval - and $10 million from private investors. Powercast is developing products with more than 100 companies, including major manufacturers of cellphones, MP3 players, hearing aids and medical implants. These products run to huge numbers. Pacemakers and the like require surgery to replace dead batteries, but with a built-in Powercast receiver, those batteries could last a lifetime.

The technology won’t work for larger devices like laptop computers, but PC power consumption is slowly diminishing, making revenue potential more electrifying.

FORTUNE, 14-05-2007