The Company to commence global delivery of the Mark 1™ Battery Cells.

Coeur d’Alene, ID – February 13, 2020 – KORE Power, a leading developer of high density, high voltage energy storage solutions, today announced that its Mark 1™ battery cells have passed the testing and factory audit process required for certification under UN, UL and IEC regulations. With these certifications complete, KORE Power remains on course to fulfill global customer orders for Mark 1™ battery cells this quarter.

The following certifications have been awarded to KORE Power’s Mark 1™ battery cells:

  • UN 38.3; Requirements for Transportation of Batteries Containing Lithium.<sup>1</s
  • UL 1973; Batteries for Use in Stationary, Vehicle Auxiliary Power and LER Applications.<sup>2</sup>
  • IEC 62619; Secondary Cells and Batteries Containing Alkaline or Other Non-acid Electrolytes – Safety Requirements for Secondary Lithium Cells and Batteries, for use in Industrial Applications.<sup>3</sup>

KORE Power will now focus its efforts on evaluating the Mark 1™ module and rack, with testing beginning early February for UL 1973, UL 1998, UL 991, UN 38.3, and IEC 62619 certifications. These certifications are related to battery usage in stationary energy storage, electric vehicles, the battery management software and transportation of lithium-ion batteries.

In April 2020, KORE Power will commence UL 9540A testing of the Mark 1™ module and rack. The certification for UL 9540A; Test Method for Evaluating Thermal Runaway Fire Propagation in Battery Energy Storage Systems, helps manufacturers prove compliance with new regulations for fire safety and building codes. The Company will also begin shipping modules and racks that do not require UL 9540A to regions including the U.S., Europe, India and Australia. The first shipments will be to existing customers and partners, which will enable them to begin testing the Mark 1™ cells, modules and racks for E-Mobility and stationary energy storage applications.

Upon the completion of additional testing and certifications, KORE Power expects to ramp up Mark 1™ Energy Storage System production to participate in large installations in 2020.

“Receiving this first round of certifications represents the completion of a major growth milestone for KORE Power. We’ve promoted the safety, efficacy and density of KORE Power’s Mark 1™ battery cell, and now we’re able to prove these benefits and fulfill orders for Mark 1™ battery cell for integration into large scale energy storage systems across the globe,” said Lindsay Gorrill, CEO of KORE Power. “Further, we recognize the importance of obtaining UL 9540A certification, particularly with the industry’s push and efforts to enhance safety around battery technologies and are pleased to be queued in UL’s testing lineup. We’re pleased to be a part of the industry’s shift to supply safer battery products.”

ABOUT KORE Power
Based in Coeur d’Alene, Idaho, KORE Power is a leading developer of high density, high voltage energy storage solutions for global utility, industrial and mission-critical markets. KORE Power designs and manufactures the industry-leading, 1500V Mark 1TM Energy Storage System. Developed to lower installation and operation costs with higher efficiency, the Mark 1TM includes proprietary NMC cells and modules, with innovative safety features, managed and optimized by the Mark 1TM 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.

To learn more about KORE Power, please visit www.korepower.com

Contact:
Tom DeRosa
Vice President of Business Development
+1 208 758 9395
tderosa@korepower.com

Media Contact:
FischTank Marketing and PR
+1 646 699 1414
KORE@fischtankpr.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 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.‎

<sup>1</sup> The UN 38.3 certification is required for the distribution of lithium battery cells globally.‎

<sup>2</sup> The UL 1973 certification confirms the suitability of lithium battery cells for battery systems used in ‎stationary energy storage applications. ‎

<sup>3</sup> The IEC 62619 certification confirms the safe operation of secondary lithium cells and batteries in ‎industrial applications.‎