• Strategic partnership expands sales & installation services, allowing Electriq to grow its footprint

WEST PALM BEACH, Fla. / Feb 06, 2024 / Business Wire / Electriq Power Holdings, Inc. (“Electriq”) (NYSE/OTC: ELIQ), a trusted provider of intelligent energy storage and management solutions for homes and small businesses, announced a new partnership with Aveyo. Aveyo will provide customer acquisition and installation services of Electriq’s solar + battery storage systems for the company’s Sustainable Community Networks program, PoweredUp Network.

Electriq’s PoweredUp Network offers a turnkey clean energy solution that includes everything needed for home energy independence – solar panels, solar battery storage, management and monitoring software, installation, and grid services. These systems are available to homeowners in select geographic locations. There are no upfront costs or deposits, credit, income or property lien requirements, making these systems accessible to homeowners of all socio-economic statuses.

"This partnership shows Electriq’s continued commitment to grow access to zero-upfront cost, affordable clean energy solutions,” said Frank Magnotti, CEO of Electriq Power. “The markets we serve have traditionally been either underserved or completely ignored. Working with Aveyo allows us to bring a high-touch, experience-driven approach to those markets, delivering the knowledge customers need to feel comfortable signing up and the expertise to provide them with a great installation experience.”

“We are delighted to bring our expertise in solar sales and deep knowledge of solar installation to help Electriq grow this program that helps everyone, regardless of means, gain access to clean energy," said Jeremy Hammond, CEO of Aveyo. “We look forward to helping accelerate penetration into key target markets and growing the adoption of clean energy.”

Electriq’s Sustainable Community Networks programs have been growing in popularity, largely driven by homeowners increasingly seeking to lower electricity costs and create energy resiliency. The company currently has 18 programs – 17 in California and 1 in Connecticut – with plans to grow.

Solar + battery storage systems help protect homeowners against economic uncertainties from inflation, rising fuel prices, and utility rate increases. With these systems, homeowners can reduce electricity costs. Additionally, stored energy in the battery system can be used during peak demand periods when utility rates are high, to lower costs or keep the lights on during a power outage.

About Electriq Power

Electriq (NYSE/OTC :ELIQ), founded in 2014 in the San Francisco Bay Area, provides turnkey intelligent energy storage and management solutions for homes and small businesses. Electriq’s solutions deliver always-available, low-cost clean energy, even during intermittent outages and inclement weather. Those solutions enable cities, municipalities, and utilities to provide their constituents with a path to sustainable and resilient sources of energy, regardless of socio-economic status. For more information, visit www.electriqpower.com.

Cautionary Note on Forward-Looking Statements

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. These forward-looking statements concern expectations, beliefs, plans, strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Forward-looking statements in this press release include statements regarding: (i) the benefits of solar energy and battery storage systems, including lower energy costs, protection against economic uncertainties and the amount homeowners can save on electricity, (ii) the timing, availability and accessibility of the PoweredUp Network and its benefits, (iii) the continuation of power outages, electrical rate increases and demand on the electrical grid, (iv) expectations regarding our SCN programs, including the demand, timing, growth, popularity, goals, benefits and its availability, (v) beliefs regarding our PoweredUp Network’s ability to deliver complete, clean, affordable and resilient energy to all homeowners and (vi) beliefs regarding the success of our SCN programs. These forward-looking statements reflect our current views about future events and involve assumptions which may be affected by risks and uncertainties in our business, as well as other external factors, which could cause future results to materially differ from those expressed or implied in any forward-looking statement. For a more detailed discussion of the risks and uncertainties applicable to Electriq, please see the risk factors described in Electriq’s filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, Electriq’s quarterly report on Form 10-Q filed with the SEC on November 14, 2023, and other reports filed from time to time with the SEC. Any forward-looking statement made by Electriq in this press release speaks only as of the date on which it is made. Electriq undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.