Electriq Power protects USD 300m for community solar in California

• United States residence solar battery storage firm Electriq Power has actually inked a multi-year agreement protecting more than USD 300 million (EUR 281.9 m) to support community solar and storage space projects for households across California.

The funds will certainly be provided from the solar as well as storage projects advancement and funding platform of an unnamed major US clean-energy firm to support the application of Sustainable Community Networks (SCNs). The business will jointly provide operations including potential grid services over 25 years, a press release claimed.

"We are thrilled to join pressures with a significant US clean-energy firm that unites money and also technology, to supply consumers with an all-in-one solution for powering their carbon-neutral residences and to proceed our initiatives in supplying SCN's across California," stated Electriq Power's chief executive officer Frank Magnotti.

Establish in 2014, Silicon Valley-founded Electriq supplies intelligent power storage and management services for residential and also local business which are used in combination with rooftop solar. The firm is in the middle of going public through a merger with a blank check firm.