T1 Energy Inc. (NYSE:TE) said Wednesday it has agreed to acquire KORE Power Inc., a battery energy storage systems (BESS) and software solutions provider.
The deal has an enterprise value of approximately $32 million and includes equity, cash and assumed debt.
T1 Energy Expands Into Energy Storage And AI Infrastructure
The acquisition is expected to give T1 an entry into the fast-growing energy storage and AI data center infrastructure markets while expanding its customer base for solar and storage solutions.
At the center of the deal is KORE Power’s NRI division, which designs, delivers, installs and operates utility-scale energy storage systems.
