06/21/2012 01:41 pm ET Updated Jun 21, 2012

Jay-Z, Duracell Team To Promote 'Powermat' Wireless Phone Chargers At 40/40 Club In Manhattan

The task of searching for an outlet with which to charge a cell phone may become a thing of the past, that is, if Jay-Z has anything to say about it.

Fox News reports the hip hop star has invested in a joint venture between Duracell and Powermat to render cell phone charging cords obsolete and usher in the era of wireless charging.

Business Week recently sat down with Duracell Powermat CEO Ron Rabinowitz at Jay-Z's 40/40 Club, where he spoke about the future of phone charging.

"All those cords and chargers and all that are just likley to disappear," Rabinowitz said. "Just like today we can't imagine a phone with a cord."

Jay-Z's 40/40 club in Manhattan is among the first venues to feature the mats. Eventually, the company plans to roll them out at coffee shops, bars, airports and in cars.

Mashable tested out the technology at the 40/40 Club earlier this month after the partnership was announced, and although they were impressed with the ease and convenience of the product, they did point out some potential pitfalls like forgetting your phone at the bar, leaving your phone out among other phones that all look alike, or someone spilling a drink on it.

But Durcaell's Powermat is far from the only wireless charging technology on the market. As Mashable noted, Energizer already has a similar product.

Business Week also noted that wireless phone charging is expected to grow from a $456 million industry today to as high as $7 billion over the next five years.