As of 2014, WiTricity is not a publicly traded company and does not have a stock symbol. WiTricity was founded in 2007 in order to commercialize a new wireless electricity technology.
WiTricity's wireless electricity technology was patented in 2005 by physicists from Massachusetts Institute of Technology, led by Professor Marin Sojacic. The team was able to prove that the magnetic fields of two properly designed devices that had similarly matched resonant frequencies could couple into a single continuous magnetic field.
This team then decided to call their technology the "highly resonant wireless power transfer," or WiTricity for a shorter abbreviation. The company is focused on helping other businesses and people accelerate their wireless future by implementing wireless power solutions. They can work in ranges of power anywhere from milliwatts to kilowatts. To prove that their technology worked, the team demonstrated that they could wirelessly light a 60-watt light bulb from more than 6 feet away with a power source.
WiTricity technology can be used in many industries, and it is used in direct wireless power and automatic wireless charging. It is found in industrial, transportation and consumer electronics. In June 2014, Intel began working closely with WiTricity to integrate WiTricity's patented technology into Intel computers so that users will have the ability to access efficient and high performance wireless charging options.