KORE Power

Overview
EV Economy?
Alternative Energy?
Energy Optimization & Management Software?
Product stageSegments
Seed
?
EV batteries: Li-ion
?

KORE Power is a US-based company that has developed nickel manganese cobalt (NMC) and lithium-ion iron phosphate (LFP) EV batteries and energy storage systems.

In 2022, the company began construction of its 6 GWh KOREPlex advanced battery cell manufacturing facility in Arizona, with plans to begin deliveries between 2024 and 2025. The facility will have multiple production lines to produce NMC and LFP ESS and EV batteries. The company has reported the possibility of expanding the facility further to 12 GWh to meet market demand.

Funding and financials

In June 2023, KORE Power received a conditional commitment for a loan of USD 850 million from the US Department of Energy's Loan Programs Office (LPO) under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The company intended to use the funds to support the construction of its KOREPlex manufacturing facility.



HQ location:
1875 N. Lakewood Dr, Suite 200 Coeur D'alene ID USA
Founded year:
2018
Employees:
51-100
IPO status:
Private
Total funding:
USD 925.0 mn
Last Funding:
USD 850.0 mn (Debt Financing; Jun 2023)
Key competitors
 
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Product Overview
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Company profile
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