KORE Power Statement on President Biden’s Signing of the Inflation Reduction Act

Coeur d'Alene, Idaho, August 16, 2022 – KORE Power (KORE) issued the following statement from CEO and Co-Founder Lindsay Gorrill upon President Biden’s signing of the Inflation Reduction Act:

“We thank President Biden for signing the Inflation Reduction Act and ushering in a new era of American leadership in clean energy manufacturing.

“The clean energy provisions in the Act prioritize scaling the domestic clean energy ecosystem, renewing our focus on raw material production and manufacturing, and catalyzing the maturation of the nation’s domestic supply chain,” said Lindsay Gorrill, CEO and Co-Founder of KORE Power. “It will position domestic suppliers to meet the demands of decarbonization in the energy and transportation sectors.

“As a lithium-ion battery cell manufacturer building a gigafactory outside Phoenix, we look forward to accelerating the growth of an end-to-end battery supply chain by delivering American IP built by American workers with recyclable North American materials to power e-mobility and energy storage solutions.

“As a partner to suppliers, end users, and recyclers, we are most excited that the Act will expand access to the jobs needed to realize these goals, and will rapidly expand the benefits that modern electrification and energy storage offer our economy, our customers and communities.”