KORE Power

Overview
Activities
News
Alternative Energy?
EV Economy?
Energy Optimization & Management Software?
Product stageSegments
Seed
?
Stationary Energy Storage
?

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 with plans to begin delivering batteries between 2024 and 2025. The facility will have multiple production lines to produce NMC and LFP EV batteries and ESS.

Key customers and partnerships

In March 2022, KORE Power acquired Northern Reliability and launched KORE Solutions, a full-service storage integrator, which will operate as a division of the company. In August 2023, KORE signed a master supply agreement with Energy Vault where KORE will supply the latter with batteries from 2025 onwards.

Funding and financials

In June 2023, the company received a loan amounting to 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 for the construction of its 6 GWh KOREPlex advanced battery cell manufacturing facility in Buckeye, Arizona. Prior to this in November 2022, the company raised USD 75 million in a Series A funding round led by Siemens Financial Services. The company planned to use the funds to construct its battery cell factory.

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)
Last valuation:
-
Key competitors
Filter by the segments to which the disruptor belongs
All Segmentsexpand
 
Loading...
Loading...
Loading...
Loading...
Product Overview
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Product Metrics
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Company profile
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...

EDGE Insights

Funding data are powered by Crunchbase
arrow
menuarrow
Click here to learn more
Get a demo

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.