The Phoenix-area KOREPlex plant will create lithium-ion battery cells to meet increased demand from EV and energy storage applications
Siemens’ capital and infrastructure solutions provide foundation for cutting-edge facility
Siemens Financial Services serving as lead investor
KORE Power, Inc., the leading U.S.-based developer of battery cell technology for the clean energy and e-mobility industries, has chosen Siemens to support the company’s future 12-GWh lithium-ion battery cell production facility, known as ‘the KOREPlex.’ Smart factory technology from Siemens and investment capital via Siemens Financial Services will help accelerate the build-out of KORE Power’s Buckeye, AZ-based facility, a plant that will address the growing demand for battery cells due in large part to electric vehicle (EV) and renewable energy applications.
“KORE Power is the first U.S.-based, American-owned, and fully integrated provider of cells and batteries,” said Lindsay Gorrill, Founder & CEO of KORE Power. “Together with Siemens’ support and solutions, KORE is uniquely positioned to serve the American market’s demand for batteries, which is expected to nearly triple over the next couple of years.”
Siemens Smart Infrastructure will provide critical electrical infrastructure and energy management solutions that automate and digitalize building operations, guaranteeing the future gigafactory is intelligent from the inside out. Power distribution hardware, manufactured in the U.S., and software will ensure the plant’s electrical footprint is efficient and reliable, providing building managers with real-time analytics and diagnostic maintenance insights. Siemens’ building management system Desigo CC will monitor environmental controls, security, and power distribution systems all from a single interface, which increases comfort, efficiency, resilience, and safety for occupants. Real-time data from Brightly’s cloud-based asset management software will provide enhanced insights into manufacturing equipment and building operations on-site, resulting in minimized unplanned downtime and extended asset life.
These solutions, and many others from the Siemens smart factory suite of technologies, provide the foundation for more resilient, efficient, and connected facilities, ultimately helping usher in the next era of U.S. manufacturing. Working with manufacturers towards the goal of a fully autonomous facility, the Siemens smart factory suite of technologies utilizes data for purposes ranging from predictive maintenance, increased productivity, and meeting sustainability goals.
“As the drive to decarbonize society has accelerated, we’re seeing new production demands come to the surface – such as with energy storage systems and batteries needed to power electric modes of transportation,” said Ruth Gratzke, President of Siemens Smart Infrastructure USA. “We at Siemens believe smart manufacturing starts with a smart factory. This is the time to not only set the foundation for critical supply chains but also to build American factories that are safe, reliable, flexible and connected.”
Recognized by the US government as a societal and economic priority, industrial policies within the Bipartisan Infrastructure Law and Inflation Reduction Act have underscored the importance of growing battery manufacturing here in America. Companies such as KORE Power are uniquely positioned to leverage private and public investments and incentives to move forward critical production at speed and scale.
Announced late last year, Siemens Financial Services was the lead investor on the initial $75 million tranche of private financing for KORE’s new facility, which is projected to be complete by late 2024 to early 2025. Strengthening this partnership further, Jason Thompson, Vice President of Private and Growth Equity from Siemens Financial Services has joined KORE Power’s Board of Directors.
Siemens provides end-to-end capabilities for battery manufacturers – providing solutions for everything from raw material procurement to battery recycling and reuse. In addition to our portfolio of smart infrastructure technologies, Siemens Digital Industries offers solutions including digital twin, factory automation, simulation software, and machine line integration to help digitalize the entire battery factory value chain—from design of the battery cell to production and services.
For further information on Siemens smart factory offerings, please see https://new.siemens.com/us/en/company/topic-areas/smart-factory.html
To learn more about Siemens’ end-to-end battery manufacturing capabilities, visit:
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Siemens Smart Infrastructure (SI) is shaping the market for intelligent, adaptive infrastructure for today and the future. It addresses the pressing challenges of urbanization and climate change by connecting energy systems, buildings, and industries. SI provides customers with a comprehensive end-to-end portfolio from a single source – with products, systems, solutions and services from the point of power generation all the way to consumption. With an increasingly digitalized ecosystem, it helps customers thrive and communities progress while contributing toward protecting the planet. With around 70,000 employees worldwide, Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland, and its U.S. corporate headquarters in Peachtree Corners, Georgia, USA.
Siemens Financial Services (SFS) – the B2B financing arm of Siemens – provides financing that makes a difference. At SFS, we empower customers around the globe to access technology with purpose and increase their competitiveness. Based on our unique combination of financial expertise, risk management and industry know-how we provide tailored financing solutions – including flexible leasing and working capital products, project-related and structured financing, corporate lending, equity investments, finance advisory, as well as trade and receivables financing. With highly experienced and passionate teams in 20+ countries, SFS paves the way for industrial productivity, smart infrastructure and sustainable mobility, facilitating the energy transition and enabling high-quality healthcare. Supporting the Siemens DEGREE framework, SFS is one of the leading providers in financing greenfield renewable projects. www.siemens.com/finance.
Siemens Corporation is a U.S. subsidiary of Siemens AG, a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. In fiscal 2022, which ended on September 30, 2022, Siemens Group USA generated revenue of $18.6 billion and employs approximately 45,000 people serving customers in all 50 states and Puerto Rico.
About Brightly Software
Brightly, a Siemens company, is the global leader in intelligent asset management solutions and enables organizations to transform the performance of their assets. Brightly’s sophisticated cloud-based platform leverages more than 20 years of data to deliver predictive insights that help users through the key phases of the entire asset lifecycle. More than 12,000 clients of every size worldwide depend on Brightly’s complete suite of intuitive software – including CMMS, EAM, Strategic Asset Management, IoT Remote Monitoring and Sustainability and Community Engagement. Paired with award-winning training, support and consulting services, Brightly helps light the way to a bright future with smarter assets and sustainable communities. For more information, visit www.brightlysoftware.com.
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 the end of 2024, early 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.