Apple Valley, Calif. – January 17, 2024 – Electriq Power Holdings, Inc. (“Electriq”) (NYSE:ELIQ), a trusted provider of residential intelligent energy storage and management solutions, and the Town of Apple Valley announced today that the PoweredUp Apple Valley program is officially available to residents.

The program, announced in November, allows homeowners to install a complete solar + battery storage system with no upfront costs or deposits, allowing customers, regardless of their socio-economic background to participate. There are no income, credit or property lien requirements. More than 17,000 single-family homes in the town are expected to be eligible to participate in the PoweredUp Apple Valley program.

Residents will begin receiving program information in their mailboxes and email this week. They can also schedule an appointment with an Electriq Power representative to receive a free savings estimate on electricity costs by visiting www.PoweredUpNetwork.com.

“All homeowners deserve access to affordable, resilient, clean energy, which is why Electriq continues to lead the way in making it accessible to all, regardless of socio-economic factors,” said Frank Magnotti, CEO of Electriq Power. “Electriq is looking forward to providing its solar + storage systems to the residents of Apple Valley, and helping them safeguard their home against power outages and rising electricity costs.”

Solar + battery storage systems help protect homeowners against economic uncertainties, from inflation and rising fuel prices to utility rate increases. With these systems, homeowners can save up to 20% on electricity each year. 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.

“We’re excited to bring this program to the town, as it will help residents be prepared for power outages and lower electricity costs,” said Guy Eisenbrey, Director of Municipal Services. “We have reviewed this program and believe it is truly a turnkey solution for all of our residents interested in solar plus battery systems.”

For more information on the PoweredUp Apple Valley program visit www.poweredupnetwork.com.

About Electriq Power

Electriq (NYSE: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 the number of its eligible participants, (iii) the continuation of power outages and electricity rate increases and (iv) beliefs regarding our PowerUp Network’s benefits and its ability to deliver complete, clean, affordable and resilient energy to all homeowners. 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/A filed with the SEC on January 12, 2024 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.

Contact:

Media enquiries for Electriq: [email protected]

Investor enquiries for Electriq: [email protected]

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