There's obviously been a lot of buzz around wireless charging (see uBeam and Witricity). These guys have been addressed in years past on HN, but given rumors swirling around potential Apple integration would like an intelligent discussion around Energous' technology/patents.
It appears to me that they are utilizing the RF portion of the spectrum (as opposed to the sound waves that uBeam appears to be using). Witricity appears to be focused on charging pads/coils.
Finally, let's consider applications outside of cell phones: a 3mm square chip could create a lot of new Internet of Things (IoT) applications.
Site: http://www.energous.com