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.”
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.