KORE Power and VELOCE ENERGY enter into a Memorandum of Understanding to form a Strategic Alliance for stationary storage
KORE Power, a developer of battery cell technology, has entered into a Memorandum of Understanding with VELOCE ENERGY, a startup developing technology to create intelligent, flexible, scalable grid-edge energy networks (GrEEN).
The MOU outlines the strategic alliance, including securing supply of critical storage components for the VELOCE products, and establishes the basis for the co-development of business opportunities in the stationary storage space.
Based in Coeur d’Alene, Idaho, KORE Power designs and manufactures the 1500V Mark 1 Energy Storage System. Developed to lower installation and operation costs with higher efficiency, the Mark 1 includes proprietary NMC cells and modules, with innovative safety features, managed and optimized by the Mark 1 BMS.
KORE Power serves the growing demand for applications such as replacing fossil fuel peaker plants, wind and solar plus storage projects, Microgrid optimization, behind-the-meter C&I, E-Mobility, mining energy solutions and the Military.
VELOCE ENERGY develops technology to create intelligent, flexible, scalable grid-edge energy networks (GrEEN). Initially focused on cost reduction in EV charging stations, the VELOCE FastGrid system combines energy storage, intelligence, a streamlined installation system, and a charging-infrastructure-as-a-service model.