KORE Power Selects Arizona Site for One Million Square Foot “KOREPlex” Lithium-Ion Battery Manufacturing Facility

PHOENIX, AZ (July 29, 2021) — KORE Power, Inc. announced today the first lithium-ion battery manufacturing facility wholly owned by a U.S. company will be built in Maricopa County.

The one million square foot manufacturing facility, dubbed the KOREPlex, will support up to 12 gigawatt hours (GWh) of battery cell production to ensure a reliable and independent U.S. supply chain for lithium-ion battery cells that are critical to the future of electric vehicles, power grids and more. The facility will have the capacity to produce enough power for 3.2 million homes each year. KORE plans to start construction of the facility by the end of the year with the goal of beginning production in Q2 2023.

“Arizona is thrilled to be selected as the home of the country’s first U.S.-owned lithium-ion battery manufacturing facility,” said Governor Doug Ducey. “Not only will this facility create thousands of new jobs, it will position Arizona as an anchor in the global battery manufacturing supply chain. We’re grateful to CEO Lindsay Gorrill and the entire KORE Power team for choosing our state. We look forward to partnering in your success for many years to come to further sustainability here in Arizona around the world.”

KORE Power is the leading U.S.-based developer of battery cell technology for the energy storage and electric transportation industries. Founded in 2018, the company leveraged the experience of its contract manufacturing partner to build and deploy more than 10 million battery cells to its global customer base. The new KOREPlex facility will add to the company’s current annual production capacity of 2 GWh that is in the process of scaling up to 6 GWh to serve the rapidly growing battery market. KORE Power’s U.S. facility will create more than 3,000 new advanced manufacturing jobs in Arizona and will strengthen U.S. energy security by creating a new domestic battery supply.

“I join all Arizonans in welcoming to our state KORE Power and its new manufacturing site that will create thousands of new jobs. Arizona is positioned to lead the nation on increasing America’s competitiveness in battery technology, and I will continue supporting this vital industry,” said Arizona senior Senator Kyrsten Sinema.

“KORE Power’s expansion to Arizona will bring thousands of great-paying jobs to our state and will ensure that Arizona remains at the forefront of clean energy and battery cell development for decades to come,” said Senator Mark Kelly. “As one of the nation’s top producers of clean energy technologies, KORE Power plays an important role in maintaining American energy independence. This investment in our electric vehicle infrastructure and climate resiliency will continue to advance Arizona’s leadership in the tech sector as well as help our nation achieve its renewable energy goals.”

KOREPlex will operate with net-zero carbon emissions through strategic partnerships and solar-plus- and storage co-generation.

“We needed a location for our factory that had a track record of supporting energy storage, a growing clean transportation sector, and a workforce that could deliver American-made battery technology that the supply chain so desperately needs,” said Lindsay Gorrill, KORE Power CEO. “Arizona hit a home run. We’re fully committed to be a cornerstone of the state’s clean economy and we’re proud to bring advanced cell manufacturing home to the U.S.” 

KORE Power plans to employ more than 3,000 full-time personnel at the facility, which will generate upwards of an estimated 10,000 direct and indirect jobs. The construction of KOREPlex will employ an estimated 3,400 workers during peak construction. It is expected construction will take about 18 months.

“KORE Power’s investment in Buckeye to produce clean, renewable energy aligns with the City Council’s sustainability goals, and our goal for significant employment opportunities for our residents,” said Buckeye Mayor Eric Orsborn. “This project is not just a win for Buckeye, but for the West Valley, the State of Arizona and the clean energy industry.”

KORE Power landed on Maricopa County after a national site search and evaluation of the energy storage, manufacturing and electric transportation opportunities across the country. The Arizona site offered proximity to complimentary industries such as e-mobility, solar, semiconductor, and utilities, workforce and logistics capacity, and a pro-business tax and regulatory environment.

Additional details about the company and the manufacturing facility can be found at KORE Power’s website at www.KOREPower.com.

Media Contacts

David Jakubiak, Aileron Communications, [email protected]

Aleysha Newton, KORE Power, [email protected]

Alyssa Tufts, Arizona Commerce Authority, [email protected]

About KORE Power

KORE Power, Inc., is a leading US-based developer of battery cell technology for the clean energy industry, serving energy storage, e-mobility, utility, industrial and mission-critical markets across the globe. KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs, optimized by the battery management system. Through its global partnerships, KORE designs and manufactures top-tier energy storage systems (ESS).

KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology, and Tier 1 product availability. We care about building sustainable communities, clean energy jobs and green economic expansion. KORE Power is proud to offer a functional solution to real-world problems that fulfill growing market demand and contribute to a zero-carbon future. For more information, visit www.korepower.com.

Based in Coeur d’Alene, Idaho, KORE Power, Inc., is a leading US-based developer of battery cell technology for the clean energy industries, serving energy storage, e-mobility, utility, industrial and mission-critical markets across the globe.

KORE Power designs and manufactures top-tier energy storage systems (ESS), proprietary NMC and LFP cells, modules, VDA modules and packs, optimized by the battery management system (BMS).

KORE Power’s differentiated approach provides customers with direct access, unparalleled service and superior technology.

The company cares about building resilient, sustainable communities, clean energy jobs and green economic expansion. KORE Power is proud to offer a functional solution to real-world problems that fulfill growing market demand and contribute to a zero-carbon future.

Cautionary Statement

Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives and expectations. All statements included herein, other than statements of ‎historical fact, are forward-looking information and such information involves various risks and ‎uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are ‎reasonable, but no assurance can be given that these expectations will prove to be correct and ‎such forward-looking statements in this news release should not be unduly relied upon. Forward-‎looking statements included in this news release are made as of the date of this news release and ‎ KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, ‎whether as a result of new information, future events or otherwise, except as expressly required by ‎applicable securities legislation.‎

About the Arizona Commerce Authority

The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.