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KORE POWER SELECTS SIEMENS AS INFRASTRUCTURE TECHNOLOGY PROVIDER FOR ARIZONA
BATTERY GIGAFACTORY
The Phoenix-area KOREPlex plant will create lithium-ion battery cells to meet
increased demand from EV and energy storage applications
Siemens’ capital and infrastructure solutions provide foundation for
cutting-edge facility
Siemens Financial Services serving as lead investor
March 1, 2023—KORE Power, Inc., the leading U.S.-based developer of battery cell
technology for the clean energy and e-mobility industries, has chosen Siemens to
support the company’s future 12-GWh lithium-ion battery cell production
facility, known as ‘the KOREPlex.’ Smart factory technology from Siemens and
investment capital via Siemens Financial Services will help accelerate the
build-out of KORE Power’s Buckeye, AZ-based facility, a plant that will address
the growing demand for battery cells due in large part to electric vehicle (EV)
and renewable energy applications.
“KORE Power is the first U.S.-based, American-owned, and fully integrated
provider of cells and batteries,” said Lindsay Gorrill, Founder & CEO of KORE
Power. “Together with Siemens’ support and solutions, KORE is uniquely
positioned to serve the American market’s demand for batteries, which is
expected to nearly triple over the next couple of years.”
Siemens Smart Infrastructure will provide critical electrical infrastructure and
energy management solutions that automate and digitalize building operations,
guaranteeing the future gigafactory is intelligent from the outside in. Power
distribution hardware, manufactured in the U.S., and software will ensure the
plant’s electrical footprint is efficient and reliable, providing building
managers with real-time analytics and diagnostic maintenance insights. Siemens’
building management system Desigo CC will monitor environmental controls,
security, and power distribution systems all from a single interface, which
increases comfort, efficiency, resilience, and safety for occupants. Real-time
data from Brightly’s cloud-based asset management software will provide enhanced
insights into manufacturing equipment and building operations on-site, resulting
in minimized unplanned downtime and extended asset life.
These solutions, and many others from the Siemens smart factory suite of
technologies, provide the foundation for more resilient, efficient, and
connected facilities, ultimately helping usher in the next era of U.S.
manufacturing. Working with manufacturers towards the goal of a fully autonomous
facility, the Siemens smart factory suite of technologies utilizes data for
purposes ranging from predictive maintenance, increased productivity, and
meeting sustainability goals.
“As the drive to decarbonize society has accelerated, we’re seeing new
production demands come to the surface – such as with energy storage systems and
batteries needed to power electric modes of transportation,” said Ruth Gratzke,
President of Siemens Smart Infrastructure USA. “We at Siemens believe smart
manufacturing starts with a smart factory. This is the time to not only set the
foundation for critical supply chains but also to build American factories that
are safe, reliable, flexible and connected.”
Recognized by the US government as a societal and economic priority, industrial
policies within the Bipartisan Infrastructure Law and Inflation Reduction Act
have underscored the importance of growing battery manufacturing here in
America. Companies such as KORE Power are uniquely positioned to leverage
private and public investments and incentives to move forward critical
production at speed and scale.
Announced late last year, Siemens Financial Services was the lead investor on
the initial $75 million tranche of private financing for KORE’s new facility,
which is projected to be complete by late 2024 to early 2025. Strengthening this
partnership further, Jason Thompson, Vice President of Private and Growth Equity
from Siemens Financial Services has joined KORE Power’s Board of Directors.
Siemens provides end-to-end capabilities for battery manufacturers – providing
solutions for everything from raw material procurement to battery recycling and
reuse. In addition to our portfolio of smart infrastructure technologies,
Siemens Digital Industries offers solutions including digital twin, factory
automation, simulation software, and machine line integration to help digitalize
the entire battery factory value chain—from design of the battery cell to
production and services.
For further information on Siemens smart factory offerings, please see
https://new.siemens.com/us/en/company/topic-areas/smart-factory.html
To learn more about Siemens’ end-to-end battery manufacturing capabilities,
visit:
https://www.siemens.com/us/en/company/press/siemens-stories/usa/glocalization-rise-of-american-large-battery-manufacturing.html
Contact for journalists
Ashley Lagzial
Phone: +1-646-415-2946
E-mail: Ashley.Lagzial@Siemens.com
Follow us on Twitter at: www.twitter.com/siemensUSA
Siemens Smart Infrastructure (SI) is shaping the market for intelligent,
adaptive infrastructure for today and the future. It addresses the pressing
challenges of urbanization and climate change by connecting energy systems,
buildings, and industries. SI provides customers with a comprehensive end-to-end
portfolio from a single source – with products, systems, solutions and services
from the point of power generation all the way to consumption. With an
increasingly digitalized ecosystem, it helps customers thrive and communities
progress while contributing toward protecting the planet. With around 70,000
employees worldwide, Siemens Smart Infrastructure has its global headquarters in
Zug, Switzerland, and its U.S. corporate headquarters in Peachtree Corners,
Georgia, USA.
Siemens Financial Services (SFS) – the B2B financing arm of Siemens – provides
financing that makes a difference. At SFS, we empower customers around the globe
to access technology with purpose and increase their competitiveness. Based on
our unique combination of financial expertise, risk management and industry
know-how we provide tailored financing solutions – including flexible leasing
and working capital products, project-related and structured financing,
corporate lending, equity investments, finance advisory, as well as trade and
receivables financing. With highly experienced and passionate teams in 20+
countries, SFS paves the way for industrial productivity, smart infrastructure
and sustainable mobility, facilitating the energy transition and enabling
high-quality healthcare. Supporting the Siemens DEGREE framework, SFS is one of
the leading providers in financing greenfield renewable projects.
www.siemens.com/finance.
Siemens Corporation is a U.S. subsidiary of Siemens AG, a technology company
focused on industry, infrastructure, transport, and healthcare. From more
resource-efficient factories, resilient supply chains, and smarter buildings and
grids, to cleaner and more comfortable transportation as well as advanced
healthcare, the company creates technology with purpose adding real value for
customers. By combining the real and the digital worlds, Siemens empowers its
customers to transform their industries and markets, helping them to transform
the everyday for billions of people. Siemens also owns a majority stake in the
publicly listed company Siemens Healthineers, a globally leading medical
technology provider shaping the future of healthcare. In addition, Siemens holds
a minority stake in Siemens Energy, a global leader in the transmission and
generation of electrical power. In fiscal 2022, which ended on September 30,
2022, Siemens Group USA generated revenue of $18.6 billion and employs
approximately 45,000 people serving customers in all 50 states and Puerto Rico.
About Brightly Software
Brightly, a Siemens company, is the global leader in intelligent asset
management solutions and enables organizations to transform the performance of
their assets. Brightly’s sophisticated cloud-based platform leverages more than
20 years of data to deliver predictive insights that help users through the key
phases of the entire asset lifecycle. More than 12,000 clients of every size
worldwide depend on Brightly’s complete suite of intuitive software – including
CMMS, EAM, Strategic Asset Management, IoT Remote Monitoring and Sustainability
and Community Engagement. Paired with award-winning training, support and
consulting services, Brightly helps light the way to a bright future with
smarter assets and sustainable communities. For more information, visit
www.brightlysoftware.com.
About KORE Power
KORE Power, Inc. (KORE) is headquartered in Coeur d’Alene, Idaho, with
operations in Waterbury, Vermont, and Buckeye, Arizona. KORE is the leading
U.S.-based developer of battery cell technology for the clean energy industry.
With clients in energy storage, e-mobility, utility, industrial and
mission-critical markets, KORE Power provides the backbone for decarbonization
across the globe. As the first U.S.-based, American-owned, and fully integrated
provider of cells, batteries, and solutions, KORE is uniquely positioned to
serve these markets. Through the construction and operations of its large-scale
battery cell manufacturing facility in the U.S., KORE is positioned to operate
at 12 GWh per year capacity. The facility (the “KOREPlex”) will operate with
net-zero carbon emissions through strategic partnerships and solar and storage
co-generation. KORE Power’s differentiated approach provides customers with
direct access, unparalleled service, superior technology, and Tier 1 product
availability. Focused on building sustainable communities, clean energy jobs,
and green economic expansion, KORE Power is proud to offer a functional solution
to real-world problems and fulfill market demand to deliver a zero-carbon
future. The KOREPlex is expected to come to Buckeye, Arizona, and be the anchor
to the development of the Sustainable Valley by the end of 2024, early 2025. For
more information, visit www.korepower.com.
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