Electriq Power Holdings, Inc. Announces Chapter 7 Bankruptcy Filing

WEST PALM BEACH, FL., May 3, 2024 - Electriq Power
Holdings, Inc.("Electriq" or
"Company") (NYSE/OTC:ELIQ), a trusted provider of intelligent energy storage
and management solutions for homes and small businesses, today announced the
Company has filed a voluntary petition for relief under Chapter 7 of the U.S.
Bankruptcy Code. The filing with the U.S. Bankruptcy Court for Delaware will
result in federal appointment of a bankruptcy trustee to liquidate the
Company's assets and distribute any proceeds. The filing follows an investigation conducted by the Board
of Directors, which concluded it is in the best interest of the Company and its
investors, creditors, former employees, and other interested parties to file
for Chapter 7 relief.

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