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Brief of diving:
- Kore Power has taken its plans to build a $ 1.25 million battery plant in Buckeye, Arizona, after its production place was quiet Listing for sale In recent weeks.
- Kore did not immediately respond to comment applications, however, the company told Phoenix Business Journal that its 1.8 million square feet project “will not move forward at the moment. “”
- In addition, the founder and CEO of Kore Lindsay Gorrill Recently published in Linkedin that is abandoning its current role, but will remain on the board of directors of the company.
Divide vision:
The Koreplex installation, scheduled for production this yearIt would have produced lithium ion technology for energy transport and storage sectors and brought thousands of jobs to Maricopa County. Idaho -based battery cell developer is considered a leader in renewable energy space with operations in Buckeye and Waterbury, Vermont.
In addition to the consolidated plans, Kore hired Jay Bellows as Chief Executive Officer to bring the company in a new management with Gorrill.
“This decision was not made lightly, but I am sure this is the right time for the company to embrace its next chapter,” Gorrill said in a Linkedin publication.
The plans for the Korepx Campus unanimously received the support of the Buckeye Valley Chamber of Commerce last year, and was supposed to be the central part of Kore’s growth strategy advancing.
However, after years of delays and construction, the site was put on sale on sale in mid -January, Azbex Real Estate Magazine First report. The City Chamber of Commerce did not immediately respond to a comment request.
Plans for Koreplex goes back to May 2021When Kore weighed where the installation would be located. The company finally chose Buckeye. But over the years, the models expanded, the costs grew and the dates were pushed again.
Remains questions about what exactly happened, however, the Republic of Arizona He reported that Kore never received taxpayer money for the project. In the summer of 2023, Kore received a Conditional Commitment to a $ 850 million loan of the United States Department of Energy. But the bottoms never materialized, and little or no movement was made at the koreplex installation.
At the same time, the site was listed on sale, General contractor Yates Construction filed a property against Koreplex property for almost $ 10.4 million to secure payment of debt or services provided.
The plant would have been added to the manufacture boom that occurs in Phoenix and the surrounding area. The federal financing of the Chips and Sciences Act of 2022 has promoted the construction and development of High -Technology Manufacturing Facilities Focused on renewable energy, microchips and more. The Phoenix metro area saw 14 main announcements of the project between 2020 and 2023.
