KORE Power poised to break ground on Valley battery manufacturing plant by end of 2022

Idaho-based KORE Power announced today that it has secured funding needed to start construction on its planned 2 million-square-foot battery manufa...

December 1, 2022
1:20 AM

Idaho-based KORE Power announced today that it has secured funding needed to start construction on its planned 2 million-square-foot battery manufacturing plant by the end of this year. The company said on Wednesday that it has closed an initial $75 million tranche in financing that's anticipated to eventually total $150 million. Siemens Financial Services was the lead investor, while Quanta Services, Nidec Motor Corp., Honeywell Ventures, Trog Hawley Capital and a utility scale energy storage provider also partnered in the private placement.

Audrey Jensen