SCLEU Broadscale Acquisition Corporation

Item 1.02 Termination of a Material Definitive Agreement.

As previously reported, on November 30, 2021, Broadscale Acquisition Corp., a Delaware corporation (“Broadscale”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Voltus, Inc., a Delaware corporation (“Voltus”), and Velocity Merger Sub Inc., a Delaware corporation and a direct, wholly owned subsidiary of Broadscale (“Merger Sub” and collectively with Broadscale and Voltus, the “Parties”).

On August 8, 2022, Voltus informed Broadscale that Voltus would be unable to complete all actions necessary in order for the Registration Statement on Form S-4 (File No. 333-262287) filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 21, 2022 and as amended by Amendment No. 1 filed on March 18, 2022, Amendment No. 2 filed on July 1, 2022 and Amendment No. 3 filed on July 13, 2022, to be effective prior to the Agreement End Date (as defined in the Merger Agreement). On August 12, 2022, the Parties entered into a Termination Agreement (the “Termination Agreement”), pursuant to which, among other things, the Parties agreed by mutual written consent to terminate the Merger Agreement consistent with Section 10.1(a) of the Merger Agreement. The termination of the Merger Agreement became effective as of the date of the Termination Agreement.

As a result of entering into the Termination Agreement, the Merger Agreement is of no further force and effect, the Parties have released certain claims that they may presently have against one another arising out of the Merger Agreement and the agreements entered into in connection with the Merger Agreement, including, but not limited to, (i) the Sponsor Side Letter and (ii) the Subscription Agreements by and among Broadscale and certain institutional and private investors, in each case as defined in the Merger Agreement, have also been terminated and are no longer effective, as applicable, in accordance with their respective terms.

Broadscale intends to continue to pursue the consummation of an initial business combination with an appropriate target, taking into account the remaining time for Broadscale to consummate such business combination, which must occur by February 17, 2023, or during any stockholder-approved extension period.

The foregoing description of the Termination Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the Merger Agreement, which was previously filed as Exhibit 2.1 to the Current Report on Form 8-K with the SEC by Broadscale on December 1, 2021, and the Termination Agreement, which is attached hereto as Exhibit 10.1, each of which is incorporated by reference herein.