As we close out another year of successes and milestones at Electriq Power, we want to thank our hardworking team, as well as our installers and customers. 2021 brought a number of challenges for businesses and homeowners alike – recovering from a pandemic, the global supply chain constraints, and more – including severe weather. This year highlighted yet again the devastating effects of our changing climate. Events like the Texas winter storm, the summer heat dome in the Pacific Northwest, and Hurricane Ida left millions without power due largely to aging grid infrastructure. The destructive weather events demonstrated the need for innovative technologies to avoid mass blackouts. We further witnessed the world’s leaders realize the importance of the clean energy transition at COP26. Despite all of the hardships, we continue to find ways to innovate and bring smarter home energy storage to more homes, making sure more families have access to a reliable backup in the face of widespread outages.
Thanks to the dedication of our talented staff and the perseverance of our customers, Electriq Power has experienced unprecedented growth in the face of adversity. We look back on our accomplishments as a way to strive for advancement in the future.
Ahead of 2021, we introduced our flagship solution, PowerPod 2, as the next generation of our industry leading residential battery system. We raised the bar on software, hardware, and control functionalities while maintaining safety, affordability, and environmentally friendly materials and features.
This year saw one of our largest steps towards equitable home energy storage access in the U.S. with the Parlier, California Home Solar Program. In March, the program selected Electriq Power as the exclusive intelligent home battery system utilized by the program. The program is made available to all homeowners regardless of income, individual credit scores, with no out-of-pocket or upfront costs. Our systems are anticipated to offset 100% of electricity consumption providing immediate cost savings to homeowners and energy resilience from increasingly common PSPS events. Most important of all, the program makes home energy storage accessible to all residents regardless of their means. We plan to use our experience with the Parlier Home Solar Program to expand equitable access programs in other cities.
We also expanded our operations outside the U.S. to provide unprecedented residential solar storage access. In April, we partnered with Caribbean Utilities Company to provide PowerPod 2 systems to homes in Grand Cayman as part of the innovative Behind-the-Meter Energy Storage Pilot Program. By broadening our global presence, we strived to continue meeting the growing demands for renewables integration and provide energy resilience in areas affected by extreme weather conditions.
Towards the end of 2021, we witnessed unprecedented internal growth at Electriq Power, strengthening our corporate structure and product offerings. In June, we raised over $10 million to expand our operations, which we used to accelerate our partnerships with distribution partners, pursue further opportunities to deploy the PowerPod 2 to homeowners at any income level, and to continue investment in our supply chain network to ensure the ability to meet the growing demand for residential battery systems. In addition, we expanded our senior management team with six new hires, each with a variety of skills from different sectors and diverse backgrounds to encourage our expansion efforts. Joining the team this fall were Ozlem Fonda, Vice President of People and Culture, Kimberly Fry, Chief Product Officer, Maria Ravn Huusom, Senior Vice President of Operations, Petrina Thomson, Chief Accounting Officer, Michele Tihami, Chief Revenue Officer, and Jim Van Hoof, General Counsel and Chief Strategy Officer. Since their arrival, each team member has contributed their individual expertise into growing Electriq Power’s culture, product, and presence.
Even through all our growth, the Electriq mission has remained unchanged: we passionately believe in distributed energy storage solutions to shape our world’s environmental and economic future, and giving as many people as possible the opportunity to enjoy the benefits of home energy storage. As we enter 2022, we’ll continue working with our partners and customers to support the clean energy transition with greater access to home energy storage.
We are grateful to our passionate team, dedicated installers, and our users relying on our battery systems to efficiently and reliably power their homes for a strong year in the face of adversity.
The Electriq Power Team