October 15, 2019
KORE Power, a leading developer of high density, high voltage energy storage solutions, announces that it has retained CohnReznick Capital as its investment banker to advise the Company on a private equity placement to support continued growth and business development.
CEO Lindsay Gorrill said, “CohnReznick’s expertise and track record in the renewable energy industry is a terrific fit as we bring our pure-play battery and storage systems to the next level. With this additional equity capital, KORE Power will be well-positioned to continue its robust growth and rapid development.”
CohnReznick Capital’s Senior Managing Director, Nick Knapp observed, “As we are at the forefront of the global clean energy transition, a scalable, fully integrated and cost-effective solution to power storage has never been more important to our industry’s momentum.”
Working with its manufacturing partner, Do-Fluoride Chemicals, KORE Power’s Mark 1TM Energy Storage System includes lithium-ion cells as well as innovative new modules that fit in a standard 19” rack, with a total capacity of 110.7 per rack. KORE Power is ahead of schedule in setting up sales, customer service, manufacturing, assembly, testing and development facilities in North America.
At CohnReznick Capital, we provide superior investment banking services to the sustainability sector. Since 2008, we have executed more than 140 project and corporate transactions for renewable energy assets, valued at over $19.5 billion in aggregate. We are wholly committed to the clean energy transition, and deliver exceptional services for financial institutions, infrastructure funds, strategic participants (IPPs and utilities), and leading global clean energy developers. Our team of experts help our clients break through the dynamic and evolving sustainability sector by simplifying project finance, M&A, capital raising, and special situations.
To learn more, please visit https://www.cohnreznickcapital.com, follow @CR_Capital on Twitter, and connect with us on LinkedIn.
KORE Power is a leading developer of high-density, high-voltage energy storage solutions for utility, industrial and mission-critical markets. KORE Power designs and manufactures its industry-leading, 1500V Mark 1™ Energy Storage System.
Developed to lower installation and operation costs while optimizing performance, the Mark 1TM Energy Storage System includes proprietary NMC cells with integrated safety features, innovative modules and standard 19” racks, fully equipped with the Mark 1™ BMS. With support from our manufacturing partner Do-Fluoride Chemicals, KORE Power enhances the quality control with a vertically integrated supply chain.
KORE Power serves the growing demand for applications such as replacing fossil fuel peaker plants, integrating into solar + storage and wind + storage projects, microgrid optimization, behind-the-meter C&I, mining energy solutions and Military applications.