KORE Power Brings Innovation to the Energy Storage Market
Today marks a historic day for KORE Power and a new chapter for the energy storage industry; Today, KORE Power ships its first modules from its newly commissioned, high tech assembly line to customers who are in the midst of an energy storage revolution.
These Mark 1™ modules and racks result in the next generation of battery technology and safety, offering many innovations over the current generation of products, including:
• An improved NMC chemistry
• Module readout screens for improved operational safety
• Multiple operational safety improvements
• Added fire safety features
• UL 9540A testing, expected to be completed by September 2020
• Production capability in the Gigawatt hours
While technical innovation is essential, KORE Power’s innovation also extends into our commercial offers. For example, KORE Power warranties are flexible on both sides of agreed battery overuse and underuse. If you have a project in need of capital, we are willing to help with vendor financing. As a US-based organization, we offer a high-touch, personalized customer experience, which shows the culture of our dedicated, flexible, and nimble team. KORE Power has NO minimum capacity purchase requirements, pleased to deliver for projects from low kWh to hundreds of MWh capacities. We offer further business innovations to our integration partners aiming to be the battery company known for industry-leading customer service.
While the first Mark 1 module shipments mark a significant milestone, they only signify the start of the journey. Energy storage is still a growing market that is undergoing constant evolution and improvements, ongoing innovations include increased cost savings, efficiency, and safety. KORE Power is committed to leading this continuous innovation journey.
To date, KORE Power has been selected by more than 10 customers to supply our Mark 1 Energy Storage Systems globally. The rapidly growing energy storage market is projected to grow globally from 18 GWh in 2018-2019, to 231 GWh by 2025. KORE Power is ideally situated to supply this developing market.
The biggest news of all in KORE Power’s innovation is our initiative to construct and operate a manufacturing facility in the United States. Industry analysts unanimously agree that the demand for energy storage projects will exceed supply, and more factories need to be built. KORE Power is the only global battery supplier planning to build a battery manufacturing plant in the US fully devoted to this market. Our strategy is driven by massive demand, the need for strategic supply, international shipping cost savings, tariff avoidance, and improved delivery time. Importantly, our new US facility will also serve as a substantial job creation engine, producing thousands of domestic green jobs. Watch for further announcements on our US site selection in a few months.
Please join us at KORE Power. Join us as a customer. Join us as an integrator. Join us as a developer or investor. Join us as an employee, as we are aggressively expanding the company around the world.
It’s an exciting time to be working at and with KORE Power.
About KORE Power:
KORE Power, Inc. (KORE) is headquartered in Coeur d’Alene, Idaho, with operations in Waterbury, Vermont, and Buckeye, Arizona. KORE is the leading U.S.-based developer of battery cell technology for the clean energy industry. With clients in energy storage, e-mobility, utility, industrial and mission-critical markets, KORE Power provides the backbone for decarbonization across the globe. As the first U.S.-based, American-owned, and fully integrated provider of cells, batteries, and solutions, KORE is uniquely positioned to serve these markets. Through the construction and operations of its large-scale battery cell manufacturing facility in the U.S., KORE is positioned to operate at 12 GWh per year capacity. The facility (the “KOREPlex”) will operate with net-zero carbon emissions through strategic partnerships and solar and storage co-generation.
KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology, and Tier 1 product availability. Focused on building sustainable communities, clean energy jobs, and green economic expansion, KORE Power is proud to offer a functional solution to real-world problems and fulfill market demand to deliver a zero-carbon future. The KOREPlex is expected to come to Buckeye, Arizona, and be the anchor to the development of the Sustainable Valley by the end of 2024. For more information, visit www.korepower.com.