KORE Power Inc., the nation’s leading U.S.-based developer of battery cell technology for the energy storage and clean energy industry, announces it has entered into a Memorandum of Understanding ("MOU") with VELOCE ENERGY, a startup focused on accelerating the world’s transition to a fully electrified future.
The MOU outlines the strategic alliance, including securing supply of critical storage components for the VELOCE products, and establishes the basis for the co-development of business opportunities in the stationary storage space.
VELOCE ENERGY develops technology to create intelligent, flexible, scalable grid-edge energy networks (GrEEN). Initially focused on cost reduction in EV charging stations, the VELOCE FastGrid™ system uniquely combines energy storage, intelligence, a streamlined installation system and a unique charging-infrastructure-as-a-service model to quickly maximize and deliver customer value.
“Working with VELOCE, another U.S.-based company with a similar vision, will help us further promote widespread energy storage adoption,” said Lindsay Gorrill, CEO of KORE Power. “E-mobility is a key market for us and we know that our partnership will benefit both companies as well as our customers.”
“We are excited to announce the MOU with KORE Power. Securing an industry-leading partner in storage technologies was a critical step in establishing VELOCE as a leader in EV charger infrastructure,” said Mike Schenck, VP of Products and Engineering at VELOCE. “The strategic alliance with KORE Power will also enable us to work together on developing market opportunities and solutions.”
Based in Coeur d’Alene, Idaho, KORE Power is a leading developer of high-density, high-voltage energy storage solutions for global utility, industrial and mission-critical markets.
KORE Power designs and manufactures the industry-leading, 1500V Mark 1 Energy Storage System. Developed to lower installation and operation costs with higher efficiency, the Mark 1 includes proprietary NMC cells and modules, with innovative safety features, managed and optimized by the Mark 1 BMS.
KORE Power serves the growing demand for applications such as replacing fossil fuel peaker plants, wind and solar plus storage projects, Microgrid optimization, behind-the-meter C&I, E-Mobility, mining energy solutions and the Military.