COEUR D’ALENE, Idaho, Oct. 15, 2019 (GLOBE NEWSWIRE) -- KORE Lithium Technologies, Inc. (“KORE Power”), a leading developer of high density, high voltage energy storage solutions, today announced that it has retained CohnReznick Capital as its investment bank to advise the Company as it prepares for the expected production of its Mark 1™ Energy Storage System in Q1 2020.
“CohnReznick’s expertise and track record in the renewable energy industry is a terrific fit as we bring our pure-play battery and storage systems to the next level,” said Lindsay Gorrill, CEO of KORE Power. With this additional equity capital, KORE Power will be well-positioned to continue its robust growth and rapid development.”
CohnReznick Capital’s Senior Managing Director, Nick Knapp observed, “As we are at the forefront of the global clean energy transition, a scalable, fully integrated and cost-effective solution to power storage has never been more important to our industry’s momentum.”
Working with its manufacturing partner, Do-Fluoride Chemicals Co., KORE Power’s Mark 1 energy storage product range includes 55 Ah cells as well as highly designed modules and 110.7 kWh capacity battery racks. KORE Power is ahead of schedule in setting up sales, customer service, manufacturing, assembly, testing and development facilities in North America.
ABOUT KORE Power
KORE Power is a leading developer of high density, high voltage energy storage solutions for utility, industrial and mission-critical markets. The Company designs and manufactures its industry-leading, patent pending 1500Vdc Mark 1 Energy Storage System. Designed to lower energy storage installation and operation costs while optimizing performance, the Mark 1 energy storage system includes its propriety NMC cells with added safety features, innovative modules and standard racks, all of which come fully integrated with the Mark 1 BMS. With support from our manufacturing partner Do-Fluoride Chemicals, KORE Power enhances the quality control and visibility across the entire supply chain. The Company serves the growing demand for applications such as energy storage peaker plants, solar + storage and wind + storage projects, microgrids, front-of and behind-the-meter storage, mining energy solutions, and military applications. For more information, visit www.korepower.com.
Company Contact:
Tom DeRosa
Vice President of Business Development
+1 208 758 9395
tderosa@korepower.com
Media Contact:
Aleysha Newton
Sales and Marketing
+1 208 758 9392
anewton@korepower.com
FischTank Marketing and PR
+1 646 699 1414
KORE@fischtankpr.com
ABOUT CohnReznick Capital
At CohnReznick Capital, we provide superior investment banking services to the sustainability sector. Since 2008, we have executed more than 140 project and corporate transactions for renewable energy assets, valued at over $19.5 billion in aggregate. We are wholly committed to the clean energy transition, and deliver exceptional services for financial institutions, infrastructure funds, strategic participants (IPPs and utilities), and leading global clean energy developers. Our team of experts help our clients break through the dynamic and evolving sustainability sector by simplifying project finance, M&A, capital raising, and special situations.
To learn more, please visit https://www.cohnreznickcapital.com, follow @CR Capital on Twitter, and connect with us on LinkedIn.
Media Contact:
Ayanna Nibbs
+1 646 876 4680
ayanna.nibbs@cohnreznickcapital.com
Disclaimer: This press release is not an offer to sell securities, which can only be made subject to a Confidential Private Placement Memorandum. Any offering would be made in reliance upon an exemption from registration under the federal securities laws provided by Rule 506 of Regulation D as promulgated by the United States Securities and Exchange Commission (the “SEC” or the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act” or the “1933 Act”).
Cautionary Statement
Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives and expectations KORE Power has in relation to the timing and capacity of cell production, demand for and quality of its products and the certifications and other authorizations needed to import and sell its products in North America and other parts of the world. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. KORE Lithium Technologies, Inc. (“KORE Power”) 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 media release should not be unduly relied upon. Forward-looking statements included in this media release are made as of the date of this media 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.