Renewance Memorandum of Understanding
KORE Power, Inc., a leading developer of high density, high voltage energy storage solutions, today announced that it has signed a Memorandum of Understanding (“MOU”) to enter into a strategic partnership with Renewance, Inc. (“Renewance”) to collaborate on the execution of battery recycling projects for KORE Power batteries which have reached their end-of-life.
Renewance has extensive knowledge of regulations related to industrial battery storage, packaging, transportation, and recycling.
Renewance has also established an extensive network of logistics, field service, and recycling partners who, collectively, create a reliable and efficient means by which KORE Power will be able to transport and recycle lithium-ion batteries that have reached their end-of-life. This alliance will facilitate the proper disposal of KORE Power’s Mark 1™ battery cells at their end-of-life and will simultaneously create an opportunity for used battery materials to be reused in new batteries. In addition, Renewance will assist KORE Power in implementing strong and environmentally responsible recycling processes, thereby minimizing KORE Power’s end-of-life liabilities.
“This partnership with Renewance is a significant step towards enabling us to implement strong sustainability practices. We are determined to be an environmentally conscious company and to minimize the impact that the manufacture and use of industrial batteries can have on our environment” said Lindsay Gorrill, CEO of KORE Power. “A significant driver of the immense demand for battery storage relates to people’s strong desire for green energy sources, such as wind and solar. We share that desire and want to feed that demand in the same spirit – by keeping the need for cleaner energy top of mind throughout the whole life cycle of industrial batteries.”
“Renewance is excited to partner with KORE Power on battery recycling projects. This alliance will enable KORE Power to deliver cost effective and environmentally friendly reuse and recycling solutions to their customers. Renewance brings a wealth of experience and expertise on industry best practices and regulatory considerations to all reverse supply chain projects. We are looking forward to working closely with KORE Power on this mutually beneficial partnership,” said Dave Mauer, VP of Sales & Services.
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.