Swell Energy was founded in 2014 and offers residential and commercial energy management solutions to energy customers and the utilities that serve them. Swell's mission is to create the greater grid for the greater good by offering energy providers of all sizes access to a network of aggregated solar + storage assets alongside customized grid services. Swell Energy focuses on offering energy management to two groups of users:

• Utility Customer: Use Swell Energy's solution to help manage load growth, to ensure reliability during grid disturbances and congestions, and to maintain an overall balance of renewable generation.

• End Users (homeowners and small businesses): Use Swell Energy's solution to help minimize energy cost and increase energy usage efficiency, reliability and security.

The company provides residential and commercial customers with financing and educational resources, and partners with local solar-plus-storage companies who conduct the installation. By creating a large network of dynamic and responsive clean energy resources within utility service areas across the United States, Swell delivers resilient VPPs and grid-balancing services to utilities.

Swell Energy leverages its contracts with utilities to offer attractive solar-plus-storage financing solutions and VPP participation incentives to customers. These solutions are deployed in partnership with local installers, and require customers to purchase or lease solar-plus-storage assets.

Able to cover customer acquisition, program enrollment, provide financing for end customer asset deployment and aggregate capacity to support utilities VPP type of efforts

Energy Procurement Cost Management

• Wholesale energy cost arbitrage
• Wholesale demand charge mitigation
• Capacity and resource adequacy

Ancillary Services Grid & Network Cost Management

• Distribution network CapEx deferral
• Integration and aggregation of renewable assets and DERs
• Transmission congestion management
• Technology platforms for project development and management as well as customer engagement, management and fulfillment

Enhanced Retail Consumer Experience

• Enhanced reliability and energy security
• Optimized PV self-consumption
• Load management
• Bill management and savings

Swell's solutions are hoping to help utilities comply with grid mandates and sustainability targets, while meeting the growing demand for reliable and cost-effective low-carbon services to customers. Swell does this by deploying solar powered energy storage systems behind the meter and building Virtual Power Plants (VPPs) that deliver a wide range of benefits which include:

• Sustainability Improvements: VPPs address load growth without building new carbon-intensive infrastructure, allowing for the decommissioning of fossil-fuel infrastructure and supporting sustainability targets.

• Frequency Response: VPPs manage reliability during grid disturbances by stabilizing frequency following the sudden gains or losses of generation or load.

• Reliable Supply: Distributed energy storage enables the use of low cost solar power and delivers the reliability that end-use customers are seeking, while supporting their broader community and the environment.

• Load Management: As a demand response solution, VPPs can balance the supply of electricity on the network by adjusting or controlling the load during periods of peak demand.

• Renewable Energy Balancing: The network of distributed energy storage assets can balance the overall intermittency and variability of renewable energy generation, to include excess production.