AcquisitionsJun 3, 2026, 06:01 AM
T1 Energy to Acquire KORE Power for $32M, Expanding into BESS Market
AI Summary
T1 Energy Inc. announced a definitive agreement to acquire KORE Power, Inc., an engineering-focused BESS and software solutions provider, for approximately $32 million in equity, cash, and assumed debt. The acquisition, expected to close in Q2 2026, will provide T1 Energy with an entry point into the energy storage and AI data center infrastructure markets. T1 anticipates the transaction will generate positive EBITDA in 2026 and contribute $15 million to $20 million in EBITDA in 2027, with KORE Power to be rebranded as T1 NRI.
Key Highlights
- T1 Energy to acquire KORE Power, Inc. for approximately $32 million in equity, cash, and assumed debt.
- Transaction includes a potential $9.6 million equity-based earn-out for fiscal years 2026 and 2027.
- Expected to generate positive EBITDA in 2026 and contribute $15 million to $20 million EBITDA in 2027.
- KORE Power's NRI division has deployed approximately 1,100 BESS projects worldwide over 50 years.
- Acquisition provides T1 Energy an entry into energy storage and AI data center infrastructure markets.
- KORE Power will be rebranded as T1 NRI following the expected close of the transaction.
- U.S. utility-scale BESS market projected to grow from 45 GWh to 143 GWh by 2035.
Price Impact
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