Electriq Power Holdings, Inc. Helps Goleta Drive Toward its 100% Renewable Power Goal
03 August 2023 - 2:15PM
Business Wire
Offers Residents Solar+Storage with Zero
Up-Front Costs
Electriq Power Holdings, Inc. (NYSE:ELIQ) (“Electriq”), a
provider of intelligent energy storage and management for homes and
small businesses, today announced the signing of an agreement with
the City of Goleta, launching a new program to deliver affordable,
sustainable and resilient energy to Goleta residents through fully
financed residential solar-plus-storage microgrids.
Through the program’s City-vetted Power Purchase Agreement
(PPA), called the PoweredUp Network, all Goleta homeowners,
regardless of means, will have access to a turnkey, distributed
home energy solution, including smart battery storage. By signing
up with the PoweredUp Network, residents can protect themselves and
their homes from rising utility rates while creating a more
resilient local grid infrastructure, furthering the City of
Goleta’s renewable energy goals.
Electriq’s PoweredUp Network offers turnkey energy solutions
that include everything needed for home energy independence – solar
panels, batteries, software, project development, financing,
installation, and grid services – with no up-front costs. These
systems are available to homeowners in select geographic locations,
regardless of income or credit history, including low- and
moderate-income households. No credit checks or property liens are
required.
“We are delighted to work with the City of Goleta to provide all
its homeowners with the same opportunity to access sustainable and
resilient energy, whatever their income,” said Frank Magnotti, CEO
of Electriq Power. “In addition to its admirable goals around
moving to 100% renewable energy, we know Goleta is also strongly
committed to energy justice and equity in that transition. At
Electriq, we believe that access to clean, dependable energy should
not be limited due to financial constraints and are delighted to be
a partner in helping the city reach its goals.”
In addition to the City of Goleta, Electriq entered into a
similar agreement with San Luis Obispo Climate Coalition earlier
this year and with the City of Santa Barbara last year. The
PoweredUp Network program is available to homeowners throughout
Santa Barbara and San Luis Obispo Counties and soon will be
available to homeowners in the City of Goleta. Interested customers
will be able to learn and sign up for the program at
PoweredUpNetwork.com.
By connecting organizations, companies, cities and
municipalities, and their local homeowners into sustainable
community networks, Electriq is enabling a shared vision of making
the planet a better place. Through these collaborations, as well as
by providing a comprehensive solution portfolio, Electriq’s
PoweredUp Network makes it possible to deliver complete, clean,
affordable and resilient energy to all homeowners.
About Electriq
Electriq, a publicly traded company with the ticker symbol ELIQ,
was founded in 2014 in Silicon Valley. provides turnkey intelligent
energy storage and management solutions for homes and small
businesses. Electriq’s solutions deliver 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.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Certain of these
forward-looking statements can be identified by the use of words
such as “anticipate,” “believe,” “could,” “continue,” “estimate,”
“expect,” “forecast,” “intend,” “may,” “might,” “outlook,” “plan,”
“possible,” “potential,” “predict,” “project,” “scheduled,” “seek,”
“should,” “will,” “would” or similar expressions, but the absence
of these words does not mean that a statement is not
forward-looking. These statements are based on the beliefs and
assumptions of the management of Electriq. Although Electriq
believes that its plans, intentions, and expectations reflected in
or suggested by these forward-looking statements are reasonable,
Electriq cannot assure you that it will achieve or realize these
plans, intentions, or expectations. Forward-looking statements are
inherently subject to risks, uncertainties, and assumptions.
Forward-looking statements contained in this press release include,
but are not limited to, statements about the ability of Electriq
to: execute its business strategy, including expansions in new
geographies; continue to develop new energy storage systems and
software-enabled services to meet constantly evolving customer
demands; develop, design, and sell products and services that are
differentiated from those of competitors; maintain key strategic
relationships with partners and customers; and acquire new
customers. These forward-looking statements are not guarantees of
performance. You should understand that these statements are
affected by factors set forth in Electriq’s filings with the SEC,
including but not limited to those described under the headings
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in the definitive Joint Proxy Statement/Consent
Solicitation Statement/Prospectus filed with the Securities and
Exchange Commission (the “SEC”) on July 12, 2023, and in its other
filings made with the SEC from time to time, which are available
via the SEC’s website at www.sec.gov. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Electriq assumes
no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Electriq does not give any assurance
that it will achieve its expectations.
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