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Applied Energetics Announces Michael J. Alber as New Independent Board Member

Defense Industry Veteran with Significant Experience in Operational Excellence and Driving Financial Performance Joins Board

TUSCON, AZ / ACCESSWIRE / March 27, 2024 / Applied Energetics, Inc. (OTCQB:AERG), a leader in the advancement of ultrashort pulse laser technologies (USPL), today announced that Michael J. Alber (Mike) has been elected to join the Board of Directors ("Board"), effective April 1, 2024. Alber will bring decades of experience in corporate leadership and defense technologies and services, and a long track record of leading innovative and diverse teams around the world.

Michael J. Alber Named to Applied Energetics Board of Directors

"Mike is an exceptional addition to the Applied Energetics Board, bringing deep domain expertise and customer perspectives, along with financial and public company accounting experience. In addition, his experience in the defense industry and in public company leadership roles will be an asset to the Board in its oversight of the Company's long-term growth strategy," said Dr. Gregory Quarles, CEO and President of Applied Energetics. "He joins a strong and collaborative board dedicated to the success of the company's customers, business, employees, and stockholders."

"We're pleased to add Mike as a new independent director to the Applied Energetics Board," said Brad Adamczyk, Chairman of the Company's Board of Directors. "As a highly respected business leader, he brings valuable experience to further enhance and balance the diverse skills on the Board and advance and support our corporate initiatives. We look forward to benefiting from his strategic thinking and innovation mindset as Applied Energetics continues its strategy of bringing groundbreaking technology to our customers, and in turn, driving value to our shareholders."

"Applied Energetics has the potential to be an industry innovator, disruptor and leader, with numerous compelling opportunities in front of it" said Alber. "I am excited to join the board and play a part in Applied Energetics success and look forward to collaborating with my fellow board members and the management team."

About Michael J. Alber

Michael J. Alber has an extensive career spanning over 35 years in corporate finance, capital markets, treasury, risk allocation and mergers and acquisition experience. Most recently he was the Chief Financial Officer for First Light Acquisition Group, a special purpose acquisition company. He previously served on the SSA (Special Security Agreement) of AceInfo Tech (subsidiary of Dovel Technologies) and advisory board of Sincerus Global Solutions. Prior to 2020 he was the Chief Financial Officer and Executive Vice President of KeyW Corporation from June 2016, until its sale to Jacobs Solutions, Inc. in 2019. During this period, he led several capital market transactions along with two strategically important M&A transactions, one that resulted in a record setting sale multiple and change in control.

Mr. Alber previously served as Chief Financial Officer and SVP at Engility Corporation, a technology services and solutions provider to both U.S. Government and International customers. Prior to Engility, Mr. Alber held the position of Chief Financial Officer and Treasurer at Alion Science and Technology from 2007 to 2012. He has also held senior executive positions at SAIC for 18 years, where he served as a Senior Vice President and Group CFO.

About Applied Energetics, Inc.

Applied Energetics, Inc., a leader in Advanced Optical Technologies and Ultrashort Pulse Directed Energy Solutions, utilizes patented, dual-use laser and optical technologies to advance critical industries, including defense, national security, biomedical and manufacturing. Applied Energetics pioneered and holds all crucial intellectual property rights to the development and use of Laser Guided Energy technology and related solutions for defense, security, commercial, and medical applications.

Forward Looking Statements

Certain statements in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include all statements that do not relate solely to the historical or current facts and can be identified by the use of forward-looking words such as "may," "believe," "will," "expect," "project," "anticipate," "estimates," "plans," "strategy," "target," "prospects," or "continue," and words of similar meaning. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition and may cause our actual results, performances or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. We do not assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such forward-looking statements.

Applied Energetics, Inc. Investor information contact:

Kevin McGrath, Managing Director
Cameron Associates, Inc.
T: 646-418-7002

SOURCE: Applied Energetics, Inc.

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