KORE Power's Shocking Shift: Arizona Gigafactory Plans Scrapped Amid Leadership Change

Leadership Changes at KORE Power
The CEO and founder of KORE Power, Lindsay Gorrill, has announced his resignation, with Jay Bellows stepping in as the new CEO. Gorrill expressed his gratitude for the team's efforts in building the company since its inception in 2018.

Company Overview
KORE Power specializes in designing and manufacturing energy storage products including complete battery energy storage systems (BESS). The company had ambitious plans to construct a gigafactory in Arizona, aiming for a production capacity of up to 12GWh.

KOREPlex Gigafactory Plans Halted
Despite initial optimism about the KOREPlex project, KORE Power has decided to restructure and sell the Arizona factory site. The company emphasized its commitment to domestic manufacturing of energy storage systems, focusing instead on its Vermont facility.

Manufacturing Capacity Growth
Under Jay Bellows' leadership, KORE Power has significantly increased its manufacturing capacity from 60MWh to 3,400MWh. The company has also secured partnerships and supply deals with major players like Nidec and Energy Vault.

Continued Focus on US Production
While the gigafactory plans are on hold, KORE Power continues to manufacture lithium-ion battery cells in China and aims to advance US manufacturing capabilities. The company has received a conditional commitment from the US Department of Energy for a US$850 million loan, although no funds have been disbursed yet.

Future Outlook
Despite the setbacks, KORE Power remains committed to its mission of supporting US manufacturing and sustainability in the energy sector, as highlighted by Gorrill's advocacy for local supply chains and battery production.