Coeur d'Alene, Idaho, February 22, 2023 – KORE Power (KORE), the leading U.S.-based developer of lithium-ion battery cells and manufacturer of integrated solutions for the e-mobility and energy storage sectors has added a member to its Board of Directors.

Jason Thompson, VP Equity Finance, at Siemens Financial Services, Inc. (SFS) has joined the board. Additionally, Billy Maloney of SFS will participate on the board as an observer.

“As we move forward with the KOREPlex and developing new products and services to meet the growing demand for safe, efficient energy storage solutions, it is important that we have a board that understands the dynamics of the rapidly changing energy and transportation sectors,” said KORE CEO and co-founder Lindsay Gorrill.

KORE recently began civil works on the KOREPlex, a two-million-square-foot lithium-ion battery manufacturing facility being built in Arizona. The KOREPlex is expected to have initial annual production capacity of 6 GWh of high-density lithium-ion cells. Production is expected to expand to 12 GWh and beyond to meet anticipated market demand.

KORE is the nation’s only vertically integrated energy solutions provider, offering proven safety and reliability as the result of its end-to-end process control from manufacturing cells to battery management systems to engineering and assembly of delivered solutions.

“I am honored to join KORE’s Board of Directors and to support their mission to bring domestically produced and proven lithium-ion batteries,” said Thompson. “As KORE embarks on its next growth phase, I’m excited to represent Siemens Financial Services and our investment, but also to leverage Siemens and my industrial expertise to help build the U.S. battery industry.”

About KORE Power:

KORE is a leading U.S.-based developer of battery cell technology and integrated solution manufacturer for the energy storage and e-mobility sectors. With clients in energy storage, e-mobility, utility, industrial and defense markets, KORE provides battery products and solutions that are the backbone for decarbonization across the globe. KORE is uniquely positioned to serve these markets as an integrated provider of cells, batteries, and solutions. Commercial production at the KOREPlex is targeted for 2025. The KOREPlex will have an initial annual production capacity of 6 GWh of battery cells, which may be expanded to 12 GWh to meet market demand. KORE is headquartered in Coeur d’Alene, Idaho, with operations in Waterbury, Vermont, and Buckeye, Arizona.

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