KORE Power Chosen by Energy Vault for US Battery Production from 2025 Onward

Swiss energy storage firm, Energy Vault, has chosen KORE Power, a company based in Coeur d’Alene, Idaho, to supply batteries produced domestically. The anticipated launch of Phase 1 at the KOREPlex facility in Arizona is set for 2025.

A Master Supply Agreement was announced earlier this week, outlining an initial delivery capacity of 1.3 GWh in 2025. It is expected to increase further up to 7 GWh in 2027 with the expansion of KORE’s domestic battery production.

“Energy Vault is positioned to be a leading provider of energy storage solutions, and with a reliable supply of domestically produced KORE Power batteries, will be able to meet the commitments it has made to advance storage capacity in the United States,” said KORE CEO and Founder Lindsay Gorrill.

In the first phase, KORE Power will manufacture the batteries at its KOREPlex facility in Buckeye, Arizona. The company anticipates that the facility will come online in 2025. In phase one, the advanced manufacturing facility will have a total production capacity of a minimum of 6 GWh annually, the firm notes. The facility will manufacture both NMC and LFP battery cells for customers in the energy storage and e-mobility sectors.

The company also revealed its plan for the facility as it looks to expand KOREPlex’s production capacity in subsequent phases to as much as 18 GWh. Furthermore, the firm is also exploring expanding its manufacturing capacity with additional U.S. facilities.

“Energy Vault sought a strategic domestic battery manufacturing partner that would provide an advantage to our grid-scale energy storage solution customers,” said Marco Terruzzin, Chief Commercial & Product Officer, of Energy Vault. “Our detailed diligence of KORE Power revealed they could offer a tier one quality product at attractive unit economics, that will be made in Arizona, and therefore qualify for certain IRA incentives to benefit our customers.”

Energy Vault made a $15M early-stage strategic investment in KORE Power alongside Siemens Financial Services, Quanta Services, Honeywell Ventures and others. Earlier, the firm chose Siemens as its Infrastructure Technology Provider for Arizona Battery Gigafactory.

In June, KORE Power made public that it had received a conditional commitment from the US Department of Energy’s Loan Programs Office (LPO). The commitment entails a loan amounting to $850 million under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. This financial support is intended to back the construction of the KOREPlex.