Electriq Power Announces Definitive Agreement with Emergent Microgrid

15 Sep 2020

Electriq Power (“Electriq”), a developer of intelligent and integrated home energy storage, management, and monitoring solutions, announced that it has entered into a definitive agreement with Emergent Microgrid, a provider of turnkey microgrids with community-concentrated deployments in Santa Barbara and Montecito, California. Emergent Microgrid will bolster Electriq Power’s fleet of residential and small commercial battery systems that can be paired with or without solar. Under the definitive agreement, Emergent Microgrid’s existing portfolio will be assigned to Electriq Power.

Emergent’s co-founders, Stephen Honikman and Henry Meyer, will join Electriq Power on October 1 as SVP of Project Finance and Structure, and SVP of Services, respectively. Additionally, Emergent’s software tools are included in the agreement; providing installers automated microgrid proposal generation with integrated sizing, use-case and economic modeling, as well as incentive processing.

The addition of Emergent Microgrid will enhance Electriq Power’s capabilities in energy storage, particularly as a safeguard against California’s Public Safety Power Shutoffs (PSPS), a program in which power is preemptively shut down by a utility due to severe weather conditions. “Microgrid services are an essential pillar to the future of electric grids and the vision of Electriq Power,” said Frank Magnotti, CEO of Electriq Power. “Community-concentrated deployments provide the highest value virtual power plants. We look forward to expanding our operations through increased turnkey services and continuing to provide the most comprehensive solutions for energy security and resilience. We are pleased to welcome Stephen and Henry to the Electriq Power team.”

This news comes on the heels of several notable announcements from Electriq Power, including the recently launched newest addition to their industry-leading family of PowerPod residential battery systems, the PowerPod LFP, a high-performance, cobalt-free model.

Electriq Power | http://www.electriqpower.com