All Updates

All Updates

icon
Filter
Funding
KORE Power receives USD 850 million conditional loan
Alternative Energy
Jun 10, 2023
This week:
Listing
Pony.ai files for US IPO
Auto Tech
Yesterday
Product updates
MineOS launches DSR management 2.0
Digital Privacy Tools
Yesterday
Product updates
LatticeFlow launches the first evaluation framework for EU AI Act compliance
Generative AI Infrastructure
Yesterday
Partnerships
Zscaler and Okta partner to enhance zero trust security initiatives
Identity & Access Management
Oct 16, 2024
Partnerships
Zscaler and Okta partner to enhance zero trust security initiatives
Next-gen Cybersecurity
Oct 16, 2024
Funding
Herald raises USD 12 million in Series A funding to enhance AI capabilities
InsurTech: Infrastructure
Oct 16, 2024
Partnerships
ActiveViam partners with MongoDB to enhance real-time data analytics for financial industry
Data Infrastructure & Analytics
Oct 16, 2024
Management news
CapWay shuts down operations
Neobanks
Oct 16, 2024
Funding
LanzaTech secures USD 3 million from US DOE to advance CO2 conversion
Carbon Capture, Utilization & Storage (CCUS)
Oct 16, 2024
Industry news
Denmark to invest USD 2.1 billion in climate transition research
Livestock Biotech
Oct 16, 2024
Alternative Energy

Alternative Energy

Jun 10, 2023

KORE Power receives USD 850 million conditional loan

Funding

  • KORE Power, a US-based company developing energy storage systems (ESS) and EV batteries, has received a conditional commitment for 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 intends to use the funds for the construction of its six gigawatt-hours advanced battery cell manufacturing facility known as “KOREPlex” in Buckeye, Arizona. The facility will have multiple production lines to produce nickel manganese cobalt (NMC) and lithium-ion iron phosphate (LFP) EV batteries and ESS.

  • The construction of the KOREPlex began in 2022, and its initial lines are fully operational. The facility is expected to begin delivering batteries between 2024 and 2025.

  • Founded in 2018, KORE Power is a US-based company that develops battery cell solutions for customers operating in the energy storage, e-mobility, utility and industrial, and defense sectors. The company is aiming for commercial production of its batteries in 2024/2025 at its KOREPlex facility.

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

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.