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KORE Power Announces Supply Agreement with ENTEK Lithium SeparatorsKORE Power, Inc. (KORE) will use ENTEK lithium separators manufactured in Terra Haute, Indiana in the battery cells that the company produces at the Arizona KOREPlex, according to a supply agreement announced Tuesday. Under the agreement, KORE will purchase separators for both NMC and LFP battery cells from ENTEK when ENTEK's Indiana facility comes online in 2025. Under the terms of the agreement, ENTEK will supply enough separators for the KOREPlex's initial 7 GWh capacity and will allow for a second phase which could more than double that supply. "Our goal is a fully domestic supply chain, and with today's announcement, we are a step closer to that goal," said Lindsay Gorrill, CEO and Founder of KORE Power. "ENTEK is a domestic suppler that can deliver separators for both chemistries we'll produce, and that will have the capacity to grow with us." The multi-year agreement will run until at least 2031. "We are excited that the lithium-ion separators that come out of our Indiana facility will be used in KORE batteries for American vehicles and energy storage products," said Larry Keith, CEO of ENTEK. "This agreement aligns two growing US companies with the shared vision of a thriving U.S. supply cain powering the clean energy economy." Lithium-ion separators are a critical component of a battery cell. Separators divide the cell's anode and cathode, allowing the transfer of electrons which power vehicles, devices, and energy storage systems. Last year, KORE announced a supply agreement with NOVONIX for synthetic graphite anode material which will be produced at NOVONIX's Tennessee manufacturing facility. "With ENTEK we have locked in a strategic partner that is also building an American facility and will be able to provide us with enough separators for KORE to grow beyond 14 GWh annually," said Gorrill. Pricing was not released. For more information, visit www.korepower.com. Cautionary Statement Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives, and expectations. All statements included herein, other than statements of ?historical fact, are forward-looking information, and such information involves various risks and ?uncertainties. KORE Power, Inc. 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 news release should not be unduly relied upon. Forward-looking statements included in this news release are made as of the date of this news 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.?
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