P&G And Powermat Announce JV

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Procter & Gamble and Powermat have announced that they intend to form a joint venture (JV) to bring 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. It is expected that the JV will begin operation early next year, according to a statement by P&G. Powermat has been chosen by General Motors and will be integrated into its cars as of 2012, and the company is expanding its technology into public spaces, office furniture and major appliances. You can read the statement by P&G here.