KORE Power, City of Buckeye Take Home Bronze in Business Facilities 2021 Deal of the Year
PHOENIX – January 14, 2022 – KORE Power and the City of Buckeye, Arizona have been recognized by Business Facilities magazine’s Deal of Year awards for the agreement that will bring the company’s advanced lithium-ion battery cell manufacturing facility to Maricopa County.
The bronze was awarded for the deal to bring a one million square foot manufacturing facility, dubbed the KOREPlex, to Buckeye. When fully operational, the facility will support up to 12 gigawatt hours (GWh) of battery cell production to ensure a reliable and independent U.S. supply chain for lithium-ion battery cells that are critical to the future of electric vehicles, power grids and more. KOREPlex will operate with net-zero carbon emissions through strategic partnerships and solar-plus- and storage co-generation.
The project will create about 1,700 advanced manufacturing jobs during phase one, another 1,300 jobs in phase two, plus nearly 3,400 construction jobs in the interim. KORE Power foresees almost $1.66 billion in direct economic output for the City of Buckeye over five years.
“This recognition is a testament to the importance KORE Power brings to our city,” said Buckeye Mayor Eric Orsborn. “KORE Power is leading the way in cutting edge technology and clean energy to deliver the future of industrial development, and we are thrilled Buckeye is emerging as a green energy leader thanks to KORE Power.”
KORE Power landed in Buckeye after a national site search and evaluation of the energy storage, manufacturing and electric transportation opportunities across the country. The site offered proximity to complimentary industries such as e-mobility, solar, semiconductor, and utilities. Buckeye also offered workforce and logistics capacity, and a pro-business tax and regulatory environment.
KORE Power Founder and CEO Lindsay Gorrill said Buckeye presented an opportunity to make the company’s vision a reality. “When talking to community members and state officials, Buckeye stood out because it presented an opportunity for the KOREPlex to catalyze a clean energy manufacturing ecosystem in Buckeye that includes parts of our supply chain, customers, and battery recycling all right here in what we are calling the Sustainable Valley”
Mayor Orsborn agreed. “The KOREPlex is the foundation of the “Sustainable Valley” to attract suppliers and other green energy companies to Buckeye.”
Seema Phull, Chief Operating Officer at KORE Power, said the award will drive the company forward. “The last year has positioned KORE Power to seize the opportunity of the transition to a clean energy economy, and with our foundation in Buckeye strong, this award gives us another piece to build upon.”
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.