NEW YORK, Aug.  05, 2026  (GLOBE NEWSWIRE) -- XWELL, Inc. (the &#34;Company&#34; or &#34;XWELL&#34;) (NASDAQ:XWEL), today announced the appointment of Gerard Reid to its Board of Directors, effective immediately. The

XWEL

XWELL Appoints Global Energy and Capital Markets Leader Gerard Reid to its Board of Directors

XWELL appoints Gerard Reid to Board, signaling strategic energy transition focus

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK, Aug.  05, 2026  (GLOBE NEWSWIRE) -- XWELL, Inc. (the &amp;#34;Company&amp;#34; or &amp;#34;XWELL&amp;#34;) (NASDAQ:XWEL), today announced the appointment of Gerard Reid to its Board of Directors, effective immediately. The</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>XWELL announced Gerard Reid&#039;s appointment to its Board, while Ezra Ernst resigns as director to focus on the CEO role. Reid brings deep capital markets and energy-transition expertise that could influence long-term strategy and capital allocation. The move highlights XWELL&#039;s emphasis on energy tech and digital infrastructure, though no near-term earnings guidance was provided.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>XWELL names Gerard Reid to the Board. Ezra Ernst resigns as director.</li><li>Reid brings energy transition, infra, and capital markets expertise.</li><li>Board appointment signals potential strategic shifts and partnerships for long-term value.</li><li>No immediate revenue impact disclosed; market reaction uncertain.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>XWELL, Inc. (XWEL)</strong>: Board appointment of Reid may influence strategic direction and capital markets access.</li><li><strong>Jefferies International (N/A)</strong>: Reid previously served as MD/Head of Cleantech Research; potential credibility and networks.</li><li><strong>Alexa Capital (N/A)</strong>: Co-founder Reid; private firm; potential deal sourcing and capital access implications.</li><li><strong>Reshape Energy (N/A)</strong>: Reid served as Chairman; governance/strategy influence implications.</li><li><strong>Greencom Networks (N/A)</strong>: Chairman role; related to energy infra investments; potential synergies.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The news reflects a leadership change aimed at strengthening governance and strategic execution in energy-transition and digital-infrastructure markets.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Gerard Reid&#039;s appointment could broaden access to capital and strategic deals.</li><li>Ezra Ernst resigns to focus on CEO duties, signaling management continuity.</li><li>No financial metrics disclosed; market will watch for strategic updates or partnerships.</li><li>Stock reaction will hinge on subsequent board-driven announcements.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Aug 5, 2026: XWELL announces Gerard Reid appointment to Board.</li><li>Ezra Ernst resigns as director; remains President and CEO.</li><li>Gerard Reid: 25-year career in energy, technology, and capital markets.</li><li>Reid previously MD/Head of Cleantech Research at Jefferies International; co-founder of Alexa Capital.</li><li>XWELL is NASDAQ: XWEL; focus on technology, infrastructure, and emerging growth markets.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>3-6 months: governance-driven strategic moves and partnerships could lift sentiment and valuation.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>NEW YORK, Aug.  05, 2026  (GLOBE NEWSWIRE) -- XWELL, Inc. (the &#34;Company&#34; or "XWELL") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/XWEL">XWEL</a>), today announced the appointment of Gerard Reid to its Board of Directors, effective immediately. The Company also announced that Ezra Ernst has resigned as a director from the Board of Directors to focus on his responsibilities as President and Chief Executive Officer. Mr. Ernst will continue to serve as President and CEO of the Company.</p>  <p>Mr. Reid is internationally recognized as one of the leading advisors on the future of energy, technology, infrastructure and capital markets. Over the past 25 years, Mr. Reid has advised boards of directors, executive officers, institutional investors, governments and entrepreneurs on corporate strategy, governance, capital allocation, mergers and acquisitions, energy transition and industrial transformation.</p>  <p>Mr. Reid is currently a member of the leadership team of the Energy Transition Forum. He is also the co-founder and co-host of the highly regarded podcast, <em>Redefining Energy</em>, a leading energy-focused podcasts, featuring global CEOs, policymakers, investors and technology leaders discussing the future of energy and infrastructure.</p>  <p>Throughout his career, Mr. Reid has built an exceptional reputation across global capital markets. He is the Co-Founder and Partner of Alexa Capital and previously served as the Managing Director and Head of Cleantech Research at Jefferies International. He has additionally advised utilities, infrastructure funds, private equity firms, institutional investors and high-growth technology companies on strategic transactions, capital raising, renewable energy, digital infrastructure, climate technology and long-term investment strategies.</p>  <p>Mr. Reid’s extensive board leadership experience includes serving as Chairman of Reshape Energy, Febesol and Greencom Networks, where he helped guide corporate strategy, financing initiatives and business growth within rapidly evolving energy markets.</p>  <p>&#34;We are delighted to welcome Gerard to the Board of Directors,&#34; said Bruce Bernstein, Chairman of the Board of the Company. &#34;Gerard brings an exceptional combination of global capital markets expertise, strategic leadership and deep knowledge of the rapidly evolving energy and infrastructure landscape. As XWELL continues to execute its long-term growth strategy, we believe his experience advising leading companies, institutional investors and policymakers around the world will provide tremendous value to both our Board and our shareholders.&#34;</p>  <p>Commenting on his appointment, Gerard Reid stated:</p>  <p>&#34;I am honored to join the Board of XWELL at such an exciting point in the Company&#39;s evolution. I believe that we are entering a period where the convergence of artificial intelligence, electrification, digital infrastructure and capital markets is creating significant opportunities for innovative companies. I look forward to working closely with the Board and management team to help shape the Company&#39;s long-term strategy and create sustainable value for shareholders.&#34;</p>  <p>The Company also expressed its appreciation to Ezra Ernst for his service as a member of the Board of Directors.</p>  <p>&#34;On behalf of the Board, I would like to thank Ezra for his contributions as a director,&#34; said Bruce Bernstein, Chairman of the Board. &#34;As President and CEO, I believe that Ezra&#39;s full attention will remain focused on executing the Company&#39;s strategic priorities, driving operational performance and delivering long-term shareholder value.&#34;</p>  <p><strong>About XWELL, Inc.</strong></p>  <p>XWELL, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/XWEL">XWEL</a>) is focused on developing and executing strategic opportunities across technology, infrastructure and emerging growth markets. The Company is committed to creating long-term value for shareholders through disciplined capital allocation, strategic partnerships and operational execution.</p>  <p><strong>Forward-Looking Statements</strong></p>  <p>This press release may contain &#34;forward-looking&#34; statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements preceded by, followed by or that otherwise include the words &#34;believes,&#34; &#34;expects,&#34; &#34;anticipates,&#34; &#34;estimates,&#34; &#34;projects,&#34; &#34;intends,&#34; &#34;should,&#34; &#34;seeks,&#34; &#34;future,&#34; &#34;continue,&#34; or the negative of such terms, or other comparable terminology. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Forward-looking statements relating to expectations about future results or events are based upon information available to XWELL as of the date of this press release, and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Such statements include, but are not limited to, statements regarding the Company&#39;s strategic plans, growth initiatives, future opportunities and expected benefits arising from the appointment of Mr. Reid to the Board of Directors. Additional information concerning these and other risks is contained in the Company’s Annual Report on Form 10-K, as amended, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other Securities and Exchange Commission filings. All subsequent written and oral forward-looking statements concerning XWELL, or other matters and attributable to XWELL or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. XWELL does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.</p>  <p align="justify">Media Contact:<br></br>eernst@xwel.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgwMzg1MiM3NzU4OTA3IzIwMDQ1NTQ="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MGRiNzA2ZjctNTJjZC00NGZjLTgxZjEtNzljNGY5MmNlNjgwLTEwMTYxMjctMjAyNi0wOC0wNS1lbg==/tiny/XWELL-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/b0ff26cc-c2fe-4152-803f-58d78e900cfb"><img src="https://ml.globenewswire.com/media/b0ff26cc-c2fe-4152-803f-58d78e900cfb/small/xwell-black-cmyk-jpg.jpg" border="0" width="150" height="22" alt="Primary Logo"></img></a></p>

XWELL announced Gerard Reid's appointment to its Board, while Ezra Ernst resigns as director to focus on the CEO role. Reid brings deep capital markets and energy-transition expertise that could influence long-term strategy and capital allocation. The move highlights XWELL's emphasis on energy tech and digital infrastructure, though no near-term earnings guidance was provided.

News insight

XWELL Appoints Global Energy and Capital Markets Leader Gerard Reid to its Board of Directors

AI summary

Sentiment rationale

Key facts

Corporate Developments