KORE Power Selects Yates Construction to Lead Build of the KOREPlex Lithium-Ion Battery Cell Manufacturing Facility in Arizona

    COEUR D’ALENE, ID, September 07, 2021 /24-7PressRelease/ -- KORE Power, Inc. announced today that its KOREPlex facility in Buckeye, Arizona, will be built by nationally recognized advanced manufacturing design-build company, Yates Construction.

"Our groundbreaking facility needed a partner with extensive experience in delivering advanced manufacturing facilities that offer the technological and sustainability targets that the KOREPlex will achieve," said Lindsay Gorrill, KORE Power CEO. "Yates Construction brings decades of experience in advanced manufacturing and the battery space, so it is a natural fit. We look forward to working together to push our aggressive timeline to get this project underway."

Some of the advanced manufacturing attributes of the KOREPlex will include fully automated cell assembly lines, automated material movement and handling, an automated packaging line, and a pandemic-ready design to allow for safe workspaces. The facility will be fully climate-controlled and will include a solar-ready covered employee parking lot.

The KOREPlex will produce nearly 60 million battery cells annually to support a reliable and independent U.S. supply chain for lithium-ion battery cells, which are critical to the future of electric vehicles, power grids, and more. The facility will have the capacity to produce enough power for 3.2 million homes each year. KORE plans to start construction of the facility by the end of the year with the goal of beginning production in mid-2023.

"Having worked in the battery and advanced manufacturing space for many years, Yates Construction is excited to partner with KORE Power on its lithium-ion battery cell manufacturing facility," said William G. Yates III, President and CEO of Yates Construction. "We see every project as a chance to build meaningful relationships and bring value to our clients. We look forward to building this landmark project with KORE Power."

The construction of KOREPlex will employ an estimated 3,400 workers during peak construction. It is expected construction will take about 18 months.

KORE Power is the leading U.S.-based developer of battery cell technology for the energy storage and electric transportation industries. Founded in 2018, the company leveraged the experience of its contract manufacturing partner to build and deploy battery cells to its global customer base. The new KOREPlex facility will add to the company's current annual production capacity of 2 GWh that has the ability of scaling up to 6 GWh to serve the rapidly growing battery market. KORE Power's U.S. facility will create more than 3,000 new advanced manufacturing jobs in Arizona and will strengthen U.S. energy security by creating a new domestic battery cell supply.

KOREPlex will operate with net-zero carbon emissions through strategic partnerships and solar-plus- and storage co-generation.

"We are excited to start this significant project with KORE Power," said Chet Nadolski, Chief Operating Officer of Yates Construction. "We are committed to the partnership and look forward to working together with KORE Power to ensure the project's success."

Additional details about the company and the manufacturing facility can be found at KORE Power's website at www.KOREPower.com.

ABOUT KORE Power
KORE Power, Inc., is a leading US-based developer of battery cell technology for the clean energy industry, serving energy storage, e-mobility, utility, industrial and mission-critical markets across the globe. KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs, optimized by the battery management system. Through its global partnerships, KORE designs and manufactures top-tier energy storage systems (ESS).

KORE Power's differentiated approach provides customers with direct access, unparalleled service, superior technology, and Tier 1 product availability. We care about building sustainable communities, clean energy jobs and green economic expansion. KORE Power is proud to offer a functional solution to real-world problems that fulfill growing market demand and contribute to a zero-carbon future. For more information, visit www.korepower.com.

About Yates Construction:
W. G. Yates & Sons Construction Company (Yates Construction) is part of The Yates Companies, Inc., which ranks among the top construction services providers. The firm has the capabilities to provide a full range of construction services to clients nationally and internationally. In recent years, Yates has ranked among the top 50 providers in all delivery methods (Construction Management, Program Management, General Contracting, and Design-Build), ranked #1 in Automotive Plant construction, and #3 in Manufacturing by Engineering News-Record (ENR). These attributes make Yates one of the largest and most well-respected corporations in the construction industry today. Visit Yates Construction's website for more information: www.wgyates.com.

Cautionary Statement

Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives and expectations. All statements included herein, other than statements of ‎historical fact, are forward-looking information and such information involves various risks and ‎uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are ‎reasonable, but no assurance can be given that these expectations will prove to be correct and ‎such forward-looking statements in this news release should not be unduly relied upon. Forward-‎looking statements included in this news release are made as of the date of this news release and ‎ KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, ‎whether as a result of new information, future events or otherwise, except as expressly required by ‎applicable securities legislation.‎

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