Saba Lakshman, the founder and CEO of Oriental Solutions (P) Ltd, a leading healthcare IT company, has joined the rapidly expanding team at KORE Power. Saba has over 20 years of business development experience and was responsible for extensive growth of that company, including its expansion into new markets in India and the Far-East, as well as into the US and Europe. Saba is opening KORE’s office in Chennai, India and will lead APAC and Africa business development as KORE begins production of their new Mark 1 Energy Storage System.
GlobalData, a leading data and analytics company, predicts the Energy Storage market globally will rise to US $13 billion by 2023. The APAC region and Africa will be significant energy storage markets over the coming years. The APAC region made up 45% of the worlds installed battery storage capacity last year. The market for energy storage in the South Asia region is dominated by India. The India Energy Storage Alliance (IESA) estimates over 200 GWh of Energy Storage opportunities in India by 2022, among the highest in the world.
“I’m excited to be part of KORE Power. KORE Power has huge potential to become the leader in energy storage solutions worldwide, with their highly efficient, safe and reliable energy storage systems. I look forward to joining KORE Power’s experienced and dynamic team to help expand KORE Power’s presence in this vast market" said Saba Lakshman about joining the KORE Power.
"I have known Saba for over 20 years. We worked on projects in India between 1995 and 2002 building titanium process plants. He is a highly competent and effective executive who understands the southeast Asia and African markets extremely well. Saba will be a strong addition to our talented and experienced team. We are thrilled to welcome him.” said Lindsay Gorrill, CEO of KORE Power.
KORE Power plans to construct a multi-GWh lithium-ion battery manufacturing facility in North America to manufacture cells for its new Mark 1 Energy Storage System designed specifically for large-scale energy storage needs. Initial deliveries of the Mark 1 are scheduled for the first quarter of 2020. In addition to the Mark 1, KORE Power also supplies products such as a 55Ah NMC cell used primarily in electric vehicles and various lithium salts used in making electrolyte for lithium-ion batteries.
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.