On May 23, 2024, Galloway Capital Partners, LLC delivered a letter to Heliogen, Inc.?s Chairman and Chief Executive Officer. In the letter, Galloway Capital Partners expressed its views that the Company is significantly undervalued and requires its support and expertise in creating shareholder value. Galloway Capital Partners and its founder, Bruce Galloway, have significant experience investing in undervalued publicly traded companies.

Galloway Capital Partners stated that they would like to assist in the process of growing the Company, improving the financial structure and enhancing shareholder value, which they view should be multiples of the current valuation. Galloway Capital Partners added that its interests are aligned, and it views that it can bring strong insight and constructive actions which will benefit all of the Company?s shareholders.