SOURCE: Energous Corporation

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March 27, 2018 06:00 ET

Energous Corporation Appoints Robert J. Griffin as Chairman of the Board

Company also adds two additional new board members

SAN JOSE, CA--(Marketwired - March 27, 2018) - Energous Corporation (NASDAQ: WATT), the developer of WattUp®, a revolutionary wire-free, power-at-a-distance charging technology, today announced the appointment of Robert J. Griffin as chairman of the Energous board of directors, the additions of Dr. Nick Alexopolous and Carol Lindstrom as board members and the rotation of John R. Gaulding to the role of chairman emeritus. With a background in retail and technology, Mr.Griffin steps into the role during an important period for the company, as it focuses on deploying WattUp into the consumer market through its customer engagements.

"Energous is honored to announce Griffin's appointment to chairman of the board, alongside the introduction of two new board members," said Stephen R. Rizzone, CEO of Energous. "We believe the company is poised to deliver on the promise of true wire-free charging from contact-based power as well as untethered power-at-a-distance. Energous is entering into a new phase focused on revenue generation and the accelerated deployment of the wireless charging 2.0 ecosystem. Bob's extensive background in wireless consumer electronics and the retail markets combined with Nick and Carol's technology expertise will serve the company and its shareholders well as we transition from a development stage company to a revenue-generating market leader paving the way for a new generation of charging solutions."

Griffin is founder and CEO of Griffin International Companies, a Minneapolis-based retail sales and marketing firm founded in 1997. During his tenure, he has successfully expanded the company's global footprint across three continents and placed premium branded products in over 10,000 retail store locations for the top national retailers. A member of the Energous board of directors for 4 years, Griffin replaces John R. Gaulding, who will remain on the board and serve as chairman emeritus.

"Contact-based, wireless charging today does not entirely solve the pain point consumers are experiencing -- it's limiting. They want a solution that enables them to charge at-contact, as well as at-a-distance. I believe Energous has tremendous potential to deploy an entirely new generation of wireless charging and I'm thrilled to be part of this revolution, while applying my extensive retail expertise to help us get there," said Robert J. Griffin.

Alexopoulos, previously on Energous' board of advisors, was formerly the vice president for antennas, RF technologies and university relations at Broadcom Corporation. He now serves as vice president for academic programs and university relations with the Broadcom Foundation. Lindstrom spent most of her career at Deloitte LLP where she served as Vice Chairman and helped build and lead many of Deloitte's Consulting businesses. Carol joins the board with global experience in large-scale technology implementations and consulting. Carol also serves as an advisor to Carrick Capital Partners, an investment firm focused on technology-enabled businesses, and on the boards of Genpact (NYSE: G) and Exponent (NYSE: EXPO).

To learn more about Energous, please visit Energous.com or follow the company on Twitter, Facebook, Instagram or LinkedIn.

About Energous Corporation

Energous Corporation is the developer of WattUp® -- an award-winning, wire-free charging technology that will transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. WattUp differs from older wireless charging systems in that it delivers contained power-at-a-distance -- thus resulting in a wire-free experience that saves users from having to remember to plug in their devices. For more information, please visit Energous.com.

Safe Harbor Statement

This press release contains forward-looking statements that describe our future plans and expectations. These statements generally use terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or similar terms. Examples of our forward-looking statements in this release include our statements about our partnership with Dialog, development of market demand, production and deployment of products. Our forward-looking statements speak only as of this date; they are based on current expectations and we undertake no duty to update them. Factors that could cause actual results to differ from what we expect include: unexpected delays in our ability to develop commercially feasible technology; uncertain timing of necessary regulatory approvals; timing of customer orders and success of customer products; our dependence on distribution partners; market acceptance of our technology; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, in evaluating our forward-looking statements.

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