Battery maker wins $850M DOE loan to build first US factory

The company currently has projects serving wholesale energy markets and industrial microgrids. It also provides its own software and management services for stationary storage customers, which are underpinned in part by its acquisition last year of the energy-storage-system integrator and developer Northern Reliability Inc. (Bellows was formerly CEO and president of NRI; he took on the president role at Kore after the acquisition.)

Kore, which raised the first $75 million of a planned $150 million investment round last year, is also seeking to ink battery supply agreements with a number of as-yet-unnamed EV manufacturers, which could be announced ​“in the next few months,” Bellows said.