electric/hybrid

KORE Power Acquires Stake in EV Retrofit Start-Up

KORE Power, Inc., a U.S.-based manufacturer of lithium-ion battery cells, acquired a 4.22 percent stake in ZEVx, an innovative start-up dedicated to eliminating barriers to electric vehicle adoption with affordable EV conversion kits, and a focus on fleet electrification. Earlier this year, KORE announced a supply agreement with ZEVx to provide KORE battery modules for ZEVx’s electric powertrain kits through 2030.
KORE Power Acquires Stake in EV Retrofit Start-Up
Courtesy of KORE Power

“KORE Power produces the battery cells that provide the backbone of electrification, and ZEVx is accelerating vehicle electrification with products that allow for rapid, affordable conversion of fleet vehicles,” said Lindsay Gorrill the CEO and Co-Founder of KORE Power. “Our joint product development and investment will help ZEVx realize the promise of these innovations at a time when moving to electric vehicles makes so much sense economically and environmentally.”

Based in Gilbert, Arizona– just an hour east of KORE Power’s planned KOREPlex gigafactory – ZEVx manufactures electric powertrain solutions that allow fleet customers to convert existing light-medium duty fleet vehicles to EV’s. Formerly known as Zero Electric Vehicles, Inc., the company is also partnering a with KORE Power to develop new advances in vehicle battery efficiency and safety.

“We’re proud to be two American companies putting American IP to work here in Arizona to reduce greenhouse gas emissions, increase energy independence, and eliminate barriers to EV adoption,” said Carolyn Maury, the CEO of ZEVx. “With KORE Power officially on our team, we can accelerate the deployment of our products to deliver these benefits to our customers.

“When fleets are electrified, the benefits – from reduced pollution to lower maintenance and fuel costs- reverberate in communities across the nation,” she said.

The investment expands KORE Power’s presence in the e-mobility space. In March, the company launched its KORE Solutions division after acquiring Northern Reliability, a Vermont-based energy storage solution provider. Later this year, the company will break ground on the KOREPlex, a two-million-square-foot manufacturing facility, which will produce up to 12 GWh of lithium-ion battery cells annually. The KOREPlex will allow the company too produce a domestic battery supply for e-mobility manufacturers and energy storage projects starting in 2024.

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).