Carpinteria, Calif. – January 18, 2024 – Electriq Power Holdings, Inc. (“Electriq”) (NYSE:ELIQ), a trusted provider of residential intelligent energy storage and management solutions, and City of Carpinteria officials announced today that the PoweredUp Carpinteria program is officially available to residents.

The program 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 13,000 residents are expected to be eligible to participate in the PoweredUp Carpinteria program.

Residents will begin receiving program information in their mailboxes 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.

“We’re excited to launch this program, which helps more homeowners gain access to solar + storage,” said Frank Magnotti, CEO of Electriq Power. “Many want solar + storage, but can’t afford the high, upfront costs. Through the PoweredUp Network, homeowners can install these clean, reliable systems with no upfront 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.

“Our goal is to bring programs like PoweredUp to our residents to help improve their lives,” said Erin Maker, Environmental Program Manager with the City of Carpinteria. “This program has been fully vetted by the city, and we support this program and encourage residents to take advantage of it. Solar + storage can help lower energy bills, provide backup power during power outages and lower carbon emissions in our area. It’s a win-win for everyone.”

For more information on the PoweredUp Carpinteria 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 and the demand for solar energy and storage systems, (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 the benefits of our PowerUp Network, including its ability to lower energy bills, provide backup power during power outages, lower carbon emissions, 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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