Electriq Power to merge with openly traded acquisition firm TLGA
- Small-scale energy storage service provider Electriq Power will merge with TLG Acquisition One, a publicly traded special purpose acquisition business. Upon closing of the deal in 2023, the mixed business will certainly operate under the name Electriq Power Holdings and also will be led by existing Electriq management with Mike Lawrie joining the board as Chairman.
" The Electriq group has actually attained considerable innovation and customer landmarks over the last 2 years, and we await the next step in our trip," claimed Frank Magnotti, CEO of Electriq. "The success of our cutting-edge household energy storage space as well as monitoring platform, incorporated with the rapidly advancing energy ecosystem, guarantees interesting new development as well as chances in advance-- for our company, the progressing market, the setting, and also culture. We are proud of our development as well as the communities we offer, and also we anticipate our future with TLGA."
" Electriq and also TLGA with each other is a calculated combination for both business, as well as consistent with TLGA's continuing evaluation and quest of target companies," said Mike Lawrie, Chief Executive Officer of TLGA. "Our proposed merger comes at the right time to address the rapidly growing demand in the household solar power storage market, modern technology advancement and development, consumer as well as company demand, as well as federal government policy and environmental initiatives. We believe that together we can produce amazing new chances as well as value for our individuals, clients, partners, as well as investors."
