KORE Lithium Technologies Inc (KORE Power), a US headquartered manufacturer of nickel manganese cobalt (NMC) battery racks for the utility-scale stationary energy storage market, has retained renewable energy investor CohnReznick Capital as its Investment Bank of Record.
"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,” KORE Power CEO Lindsay Gorrill said.
CohnReznick has executed more than US$19.5 billion worth of renewable energy asset project and corporate transactions since 2008. On the deal with KORE Power, company senior managing director Nick Knapp said that a “scalable, fully integrated and cost-effective solution to power storage has never been more important,” to the momentum of the clean energy industry.
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.