| August 8, 2024 Arevon Energy hosted a ribbon-cutting ceremony to mark the completion and start of operations of its 200-MW/800-MWh Condor Energy Storage Project in San Bernardino County, California. The project will annually power up to 150,000 homes for up to four hours during peak electricity demand periods, and will provide an estimated $25 million in property tax payments over its lifespan, supporting the county as well as the local school district. With the project stakeholders in attendance, the ribbon-cutting event not only celebrated the project’s completion but also the community support for helping San Bernardino County meet its Climate Action Plan goals. Kevin Smith, Chief Executive Officer at Arevon, provided remarks at the event, along with Mayor Bill Hussey, City of Grand Terrace; Council Member Jeff Allen, City of Grand Terrace; David Lincoln, Senior Vice President at Rosendin Electric, Inc.; and Charles Neighbours, Principal at Grand Terrace High School. “The Condor Energy Storage Project signifies our ongoing commitment to energy storage technologies and to advancing clean, renewable energy across the nation,” Smith said. “As California looks to achieve its sustainability goals and brings more renewable energy online, battery storage is an essential component to ensure grid reliability and facilitate further renewable energy adoption. Our projects here provide viable economic revenue, cleaner air for the community, and reliable energy access throughout the state.” The Condor ribbon-cutting ceremony recognized the efforts and collaboration of the project’s commercial partners and local labor organizations that contributed to bringing the facility online. Condor features Megapack 2 XL, Tesla’s utility-scale battery energy storage system, which is the most advanced technology available on the market today and provides superior safety and protection for both the project and the surrounding community. Tesla has also been contracted to provide operations and maintenance services for the project. Southern California Edison (SCE) has purchased the project’s capacity under a long-term agreement. Rosendin served as the engineering, procurement and construction provider and hired local electrical workers from IBEW Local 477, Operators Local 12, Iron Workers Local 433, Laborers Local 1184, and Carpenters Local 909 to build the facility. “Rosendin values every member of these hardworking, collaborative teams that dedicated 280,000 work hours on this project that will help power local businesses, schools and homes when energy demand is at its peak,” Lincoln said. “As a longtime partner with Arevon, we are proud to work with them to deliver energy projects that strengthen local communities while providing jobs and building our future workforce.” As the long-term owner of the Condor Energy Storage Project, Arevon is committed to supporting the local community and its worthy initiatives. During the event, Arevon was privileged to present donations to the Women’s Club, Lions Club and Grand Terrace Foundation. In addition, Arevon partnered with Grand Terrace High School and Riverside-based Industrial Metal Supply to initiate the creation of a 3D metal sculpture, which was on display during the ribbon-cutting ceremony. Grand Terrace High School (GTHS) students owned the entire process, from conception and design to welding the sculpture, which measures 15 feet in length. Each element was carefully separated out to ensure that no material was wasted, and Arevon worked with Industrial Metal Supply to order the steel for the sculpture. In addition, the Condor Energy Storage Project has committed to a contribution of $200,000 to provide shade for students at Grand Terrace High School along with a donation to the GTHS School Site Council. News item from Arevon