Energous Corporation Announces Management Change

SAN JOSE, CA--(Marketwired - October 05, 2015) - Energous Corporation ("Energous" or "the Company") (NASDAQ: WATT), the developer of WattUp™, the revolutionary wire-free charging technology for mobile devices that provides "over-the-air" power at a distance of up to 15 feet, today announced that George B. Holmes, chief commercial officer, will be assuming similar responsibilities at a non-competitive private company. George will continue to support Energous in a consulting role.

"On behalf of the board of directors, the management team, and the many internal and external Company constituents, I would like to thank George for his contributions over the last two years helping Energous achieve its current level of success. George has been a major contributor defining our path to market while securing a broad scope of strategic relationships that will form the basis for the development of the WattUp ecosystem," said Stephen R. Rizzone, president and CEO of Energous Corporation. "Energous is entering a new phase of corporate development. Our WattUp technology continues to be the most effective solution for delivering power at a distance and our core IP is protected by over 150 patent filings. In addition, we have a key strategic partnership with a tier one consumer electronics company and we are in the process of expanding our licensing and royalty relationships to additional top tier partners. It is now time for us to build out the necessary infrastructure and processes to provide the quality and support necessary to meet the requirements of some of the most demanding companies in the world. To this end, we are in the process of identifying a world-class VP of operations who can lead this effort."

George Holmes commented: "As a serial entrepreneur, my biggest satisfaction comes from working with companies that are at their earliest stages in defining a path to market, forming a strategy for customer acquisition and building a pipeline of relevant partners. I believe we have accomplished this mission at Energous and it is time to move on to my next opportunity where my skills and experience can have maximum impact. I have great confidence in the future of Energous and look forward to continuing my relationship with the Company in my new role as consultant to the CEO."