Energous Added to Russell 2000® Index
SAN JOSE, CA -- (Marketwired) -- 06/28/16 -- Energous Corporation ("Energous®" or "the Company") (NASDAQ: WATT), the developer of WattUp®, a revolutionary wire-free charging technology that provides over-the-air power at a distance, today announced that it was added to the Russell 2000®, Russell 3000® and Russell Global Indexes as part of FTSE Russell's annual index reconstitution after market close on June 24, 2016.
"Being included in the 2016 Russell 2000 Index represents another major milestone achievement for Energous, as the public markets are recognizing not only the significant progress we have made in a short timespan, but also the long-term opportunities provided by our vision of a ubiquitous WattUp ecosystem," said Stephen R. Rizzone, President and CEO. "Since our IPO in 2014, Energous has created an entirely new technology platform and remains on track for WattUp-integrated products from our licensing partners to be available for sale in late 2016 or early 2017."
Indexes provided by FTSE Russell are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $6 trillion in assets are benchmarked against the Russell U.S. indexes. Annual reconstitution of the Russell U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The smallest 2,000 companies make up the widely used Russell 2000 Index.
About Energous Corporation
Energous Corporation is developing WattUp®, an award-winning wire-free charging technology that will transform the way people and industries charge and power their electronic devices at home, in the office, in the car and beyond. WattUp is a revolutionary RF-based charging solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router. WattUp differs from current wireless charging systems in that it will deliver contained, useable power, at a distance, to multiple devices, 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, or follow Energous on Twitter and Facebook.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. All statements in this release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Source: Energous Corporation
Released June 28, 2016