Alpine 4 Holdings, Inc. (ALPP) Subsidiaries, RCA Commercial and Elecjet, Enter Material Transfer Agreements with OEMs to Begin Testing of its Latest AX-03 Class of Solid-State Batteries

PHOENIX, AZ / ACCESSWIRE / April 18, 2023 / Alpine 4 Holdings, Inc. (NASDAQ:ALPP), a leading operator and owner of small market businesses, announced that its subsidiaries, RCA Commercial and Elecjet, have entered into Material Transfer Agreements (MTA) with US based OEMs from sectors including the RV industry, Electric Tractors, in addition to Energy Storage Systems / Powerwalls. These MTAs are the culmination of months of discussions with these OEMs and their electrification needs. The Company anticipates that as the OEMs conduct their own internal testing procedures on the AX class of batteries, this will lead to long-term market contracts for the AX Class of power cells. The overall market size of these industries exceeds $10 Billion in market opportunity for the Company.

Kent Wilson, CEO of Alpine 4, had this to say: "The AX-03 Class of Solid-State Batteries, with its robust energy density of 360wh/kg, is a game changer for companies requiring elevated levels of safety and superior energy density compared to Li-Ion cells. Competitors in this space utilize highly complex and difficult manufacturing processes that limit scale and efficiency. The AX-03 architecture was built around the Designed for Manufacturing (DFM) practice and allows Elecjet to increase our output on the manufacturing of these cells without sacrificing quality. This is a critical factor for our customers and a key advantage for Alpine 4 in capturing market share."

Samuel Gong, President of Elecjet added," We are so incredibly proud of all of our teams across the US and China for working together to bring solid-state batteries to market. Elecjet's mission has always been about making dream materials a reality for the common consumer and we're extremely proud to be releasing a variety of the world's first solid-state powered products soon. All of these devices will be powered by the AX-01 class of solid-state batteries.

Along with the strides in industry leading commercialization of the AX-01 (that sees a 20%-40% increase in energy density over LiFePo and NMC), we are ahead of schedule in our development of the AX-03 class of solid-state batteries (360 Wh/kg). The AX-03 will be the same form factor and use very similar manufacturing processes as the AX-01 which allows the AX-01 to pave the way for the AX-03's mass production and commercialization when it is ready. "

To learn more about Elecjet's AX Class of batteries, visit:

www.electjetpowercells.com

www.powerable.com

About Alpine 4 Holdings: Alpine 4 Holdings, Inc. is a Nasdaq traded Holding Company (trading symbol: ALPP) that acquires business, wholly, that fit under one of several portfolios: Aerospace, Defense Services, Technology, Manufacturing or Construction Services as either a Driver, Stabilizer or Facilitator from Alpine 4's disruptive DSF business model. Alpine 4 works to vertically integrate the various subsidiaries with one another even if from different industries. Alpine 4 understands the nature of how technology and innovation can accentuate a business, focusing on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. Alpine 4 also believes that its holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas, and create fertile ground for competitive advantages.

Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but also increase value for our shareholders.

Contact: Investor Relations

investorrelations@alpine4.com

www.alpine4.com

Forward-Looking Statements: Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.

Other factors that may affect our businesses include global economic trends, competition and geopolitical risks, including changes in the rates of investment or economic growth in key markets we serve, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, and related impacts on our businesses' global supply chains and strategies; market developments or customer actions that may affect demand and the financial performance of major industries and customers we serve, such as secular, cyclical and competitive pressures in our Technology, Construction and Manufacturing businesses; pricing, the timing of customer investment and other factors in these markets; demand for our products or other dynamics related to the COVID-19 pandemic; conditions in key geographic markets; and other shifts in the competitive landscape for our products and services; changes in law, regulation or policy that may affect our businesses, such as trade policy and tariffs, regulation and the effects of tax law changes; our decisions about investments in research and development, and new products, services and platforms, and our ability to launch new products in a cost-effective manner; our ability to increase margins through implementation of operational changes, restructuring and other cost reduction measures; the impact of actual or potential failures of our products or third-party products with which our products are integrated, and related reputational effects; the impact of potential information technology, cybersecurity, or data security breaches at Alpine 4, our subsidiaries or third parties; and the other factors that are described in "Risk Factors" in our Annual Report on Form 10-Ka for the year ended December 31, 2021, as updated in our Quarterly Reports on Form 10-Qa.

SOURCE: Alpine 4 Holdings, Inc.