Electriq Power Announces Nominees for New Public Company Board of Directors

WEST PALM BEACH, Fla., March 22, 2023 (GLOBE NEWSWIRE) — Electriq Power (Electriq), a provider of intelligent energy storage and management for homes and small businesses, today has announced the nominees for the anticipated public company board of directors that is expected to go into effect at the close of Electriq’s De-SPAC transaction with TLG Acquisition One Corp, (NYSE: TLGA), a publicly traded special purpose acquisition company. Upon closing of the transaction, shares of Electriq Power Holdings Inc. will be publicly traded on the NYSE under the symbol ELIQ.

Electriq Power Holdings Inc. is anticipated to be led by existing Electriq management, and current CEO, Frank Magnotti, will lead the new company as CEO and is a nominee as a board member. TLG’s CEO, Mike Lawrie, is a nominee to the Electriq Power Holdings Inc. board, and an additional five nominees to the board having a broad range of experience and skills to help drive the company forward have also been named.

Stockholders of TLG will be asked to approve all the nominees to the Board at the special meeting of stockholders of TLG to be held in connection with the vote of TLG stockholders on the approval of the business combination of TLG and Electriq. The date for such special meeting has not yet been set.

“We are delighted to welcome the nominees to the new Electriq Board,” said Mr. Magnotti. “Their extensive experience and diverse backgrounds will be immensely valuable to Electriq as we continue to grow our business and serve our communities and customers. These leaders are nationally recognized for their contributions, and their expertise will play a pivotal role in driving the company’s growth.”

“Electriq is leading the way in making secure, affordable, and predictable clean energy available to households and small businesses across California and the U.S.,” said Mr. Lawrie. “The nominees to the board will bring extensive expertise in helping companies accelerate business execution, build fiscally sound and compliant businesses, and navigate high-growth expansion across a range of markets. We look forward to supporting Electriq as it drives to make clean energy accessible to all.”

Electriq provides zero-up-front-cost energy systems – turnkey energy solutions that include batteries, solar panels, software, project development, financing, and installation – for homeowners in specific geographies and across all customer classes, including Low- and Moderate-Income (LMI) households. 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 partnerships, as well as by providing a comprehensive solution portfolio, Electriq makes it possible to deliver complete, clean, affordable, and resilient energy to all homeowners.

Board Member Nominees include:

Carol Coughlin is an experienced Board and Audit Chair and is highly skilled in corporate governance, including board refreshment, IPO, strategic alternatives, and M&A. She is an accomplished CFO with a record of achieving profitability through growth, initiating successful turnarounds, as well as driving M&A. Ms. Coughlin currently serves as director of University of Maryland Medical Center, and Hopebridge Autism Therapy Centers, among other board roles.

Ms. Coughlin is CEO and Founder of BottomLine Growth Strategies, working with private company CEOs to transform enterprise value through best practice finance and operations strategies. As former CFO for Johns Hopkins Health Plan, Rush Prudential Health Plans, and Harmony Health Plan, Ms. Coughlin is a qualified financial expert. Ms. Coughlin is a certified public accountant and received a Bachelor of Science in Accounting from Towson University, and an MBA in Business and Finance from Loyola University Maryland. She is a Board Leadership Fellow through the National Association of Corporate Directors.

Mike Lawrie is a globally recognized business and technology leader, strategist, and change-agent with proven success in transforming enterprises to create growth, new market opportunities and value for stakeholders. He is the founder and CEO of The Lawrie Group, a private company providing consulting and business services. Mr. Lawrie is the CEO of the publicly traded special purpose acquisition corporation, TLG Acquisition One Corp.

Previously, Mr. Lawrie served as chair, president, and chief executive officer of Fortune 500 company, DXC Technology (NYSE: DXC), which serves more than 6,000 global enterprise clients in over 70 countries. Prior to that, he was a Senior Vice President and Group Executive at IBM, responsible for sales and distribution of all IBM products and services worldwide. Mr. Lawrie is a trustee of Drexel University, Philadelphia, and the Lawrie Advanced Global Leadership Program for the Drexel LeBow MBA students was named after him. He holds a Bachelor of Arts in history from Ohio University and an MBA from Drexel University. Additionally, he has received an honorary doctorate from Shiv Nadar University in India.

Frank Magnotti is an accomplished energy technology executive who is well known for his innovative products and disruptive business models. He began his career in 1982 as a Graduate Research Assistant funded by NASA, subsequently worked at AT&T Bell Labs, where he was the General Manager Utility Solutions. In 1998, Mr. Magnotti founded the first pure-play smart grid company to go public, Comverge, where he served as President and Chief Operating Officer. During his tenure, he deployed the first bilateral virtual power plant contract and facilitated 6 GW of demand response across 5 million customers. He later joined Fluitec as CEO, where he grew revenues and expanded its geographical reach internationally opening offices in the Middle East, Australia and Asia. Between Comverge and Fluitec, Mr. Magnotti’s innovative approach has earned him and his companies Top Cleantech Company or Top Cleantech Innovation awards four times in San Francisco, New York, and Paris.

Mr. Magnotti is currently the CEO of Electriq Power and will hold the position of CEO for the new company. He holds a master’s degree in mechanical engineering from The Cooper Union for the Advancement of Science and Art.

Zainabu Oke is a transformational strategic senior financial and operational executive with over 20 years of experience advising national and regional healthcare systems, life science, real estate and hospitality, consumer services, and technology companies. As a former audit partner with Deloitte, Ms. Oke is a qualified financial expert having demonstrated extensive governance and risk management expertise through her work with corporate boards.

Currently Ms. Oke is the General Manager Car Care for AAA NCNU, a consumer services business with over $2B in sales. With P&L responsibility for the California market, she directs all automotive services business operations and business development, including mergers, acquisitions, and integrations. Ms. Oke serves as a Board member and Audit Committee Chair of TLG Acquisition One Corp. and a Board member of Daily Harvest, a late-stage startup. She holds a Business Administration degree from University of Berkeley, Haas Business School and is a certified public accountant.

Neha Palmer is the CEO of TeraWatt Infrastructure, bringing over two decades of leadership experience in the energy industry. At TeraWatt, Ms. Palmer brings her deep expertise in building out rapidly growing fleets of large-scale energy intensive infrastructure to the emerging heavy EV charging asset class, a segment on track to outpace even the incredible growth data centers have seen over the last decade. Most recently, she led energy strategy for Google’s global data centers. As the first hire focused on data center energy, Ms. Palmer built out and led the team developing electric infrastructure and electricity procurement for the global fleet, covering dozens of sites over four continents. Key achievements include making Google the largest corporate buyer of renewable energy in the world, and the first company of its size to achieve 100% renewable energy for operations, which it has done since 2017. Prior to Google, Ms. Palmer held leadership roles at Pacific Gas and Electric, and worked as an investment banker at Goldman Sachs.

Ms. Palmer holds an MBA in Finance from the Kellogg School of Management at Northwestern University, and a BS in Civil Engineering from California Polytechnic State University-San Luis Obispo.

Kristina A. Peterson is the CEO of Mayflower Partners, a cleantech and renewable energy advisory firm. She is a renewable energy pioneer and active energy infrastructure investor. She has led over $3B in solar equity investments and mezzanine debt lending, and developed, constructed, financed, or managed over 2.2GW operating solar projects globally. She serves as Non-Executive Director and Chair of the Remuneration Committee for the utility-scale battery storage firm Invinity Energy Systems (LSE: IES), Industrial Advisor to private equity firm EQT Group AB, and board advisor to several software and solar+storage companies.

Ms. Peterson has served as CEO, CFO, or senior executive of both privately held and public companies across the renewable energy sector including Brookfield Renewable Partners, EDF Renewables, Suntech and Greenwood Energy, and in investment banking at Citibank and ABN AMRO Bank originating $8.5B in energy loans and other investments. She holds an MBA, Finance and Marketing, University of Chicago Booth School of Business, completed additional graduate studies at MIT Sloan School of Management, and holds a bachelor’s degree from Boston University School of Management.

Gideon Soesman is a current board member of Electriq Power, is a 20+ year Venture Capital veteran focusing on investments in companies in the AgTech, FoodTech, PropTech and ClimaTech sectors. Mr. Soesman is co-founder & managing partner for GreenSoil Investments with a portfolio of funds focused on investing in companies that create value by enabling smart and efficient resource utilization in the agriculture, food, and real estate sectors.

Before co-founding GreenSoil, Mr. Soesman founded and managed GMS Capital, a boutique investment bank. Prior to GMS Capital, he was responsible for all global merger and acquisition activities for a major division of Royal Philips Electronics and also held senior positions in business development and corporate venturing at Philips. Additionally, he played a pivotal role in spearheading the spin-off and subsequent IPO of the Phillips MP4Net business unit. Mr. Soesman has served on the board of numerous tech companies and is currently a director in Tipa, CropX, Phenome Networks, Home365, Salient Medical Solutions and Electriq Power. Mr. Soesman holds a B.A. in Economics from the Hebrew University, Jerusalem, and an M.A. in Business Administration from the Boston University/Ben-Gurion University of the Negev.

About Electriq Power
Electriq, founded in 2014 in Silicon Valley, provides turnkey intelligent energy storage and management solutions for homes and small businesses. Electriq’s solutions deliver always-available, 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. Electriq announced in November it has entered into a definitive transaction agreement with TLG Acquisition One Corp. (NYSE: TLGA), a publicly traded special purpose acquisition company. Upon closing of the transaction, the combined company will operate under the name Electriq Power Holdings Inc. The company’s shares are expected to trade on the NYSE under the symbol ELIQ.