T1 Energy acquires KORE Power's NRI division to expand into battery and data center infrastructure markets

Type: Acquisition · Technology: Storage · Country: United States · Value: $32M · Announced: 2026-06-05

T1 Energy, a Texas-based solar manufacturer, agreed to acquire KORE Power's NRI division, a utility-scale battery energy storage systems (BESS) and software solutions provider, for approximately $32 million in enterprise value. The transaction includes equity, cash, and the assumption of debt, with an additional equity-based earn-out of up to $9.6 million tied to fiscal performance targets through 2027. Expected to close in the second quarter of 2026, the deal grants T1 Energy access to KORE Power's NRI division, which has deployed roughly 1,100 energy storage projects globally and performs all software and controls development within the United States. Following the acquisition, T1 Energy plans to rebrand the unit as T1 NRI, integrating its system engineering and delivery capabilities for utility-scale developers. The acquisition positions T1 Energy to serve the rapidly expanding data center market, driven by load growth from artificial intelligence hyperscale facilities.

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