MSP and KORE Power sign MoU to continue international expansion efforts

Image: KORE Power.

UK based Multi Source Power Technologies (MSP) has entered into a Memorandum of Understanding with US based energy storage company KORE Power.

The agreement forms a strategic alliance that will allow the companies to increase their opportunities through integrated efforts, according to KORE Power.

It will take advantage of MSP's energy storage asset integration products and services, and KORE Power’s battery energy storage system (BESS), the Mark 1.

The 1500V Mark 1 BESS includes proprietary NMC cells and modules.

The partnership is a “powerful next step” for global distribution according to KORE Power CEO Lindsay Gorrill. 

"We are excited to kick off this alliance at a time where energy storage solutions like the Mark 1 are in high demand - particularly in the markets supported by MSP.

"Together, our companies will promote and sell a joint solution that we have found ideal for MSP's customers, and we look forward to working closely with MSP to deliver these new integrated systems to the regions that need them most," Gorrill continued.

MSP produces flexible, scalable modular hybrid power systems, which are designed for rapid deployment. This includes electric vehicle charging systems, hybrid generators and microgrid applications for land and marine markets.

It will now be able to include the Mark 1 within this system, as it continues to grow internationally, having already deployed projects in the UK, Europe and Africa.  

"We are delighted to partner with KORE Power and bring the Mark 1 ESS into our portfolio. This partnership unlocks a commercially constrained supply chain for MSP. It allows us to integrate with a more versatile energy storage module in denser, more scalable configurations, which is ideal for our target customers' requirements," said Simon Patterson, CEO of MSP.

"Corporately, our objectives are ideally aligned. It's the complete strategic fit as both of our companies are focused on creating the best possible solution to facilitate the cleantech revolution on a global scale – even in regions where it's challenging."

KORE Power CEO Lindsay Gorrill blogged this week exclusively for our sister site Energy-Storage.news on how his company views the role of industrial energy storage as critical not only for the clean energy transition but also in job creation - with the company planning to build a 'gigafactory' with up to 10GWh of manufacturing capacity in the US.