Overview
- T1 announced an agreement to acquire KORE Power for a $32 million enterprise value with up to $9.6 million in equity-based earn-outs tied to fiscal 2026–2027 performance.
- The companies said the transaction is expected to close in the second quarter of 2026 and remains subject to customary closing conditions and shareholder approval with holders of a majority of KORE shares having committed support.
- T1 provided forward-looking guidance that the combined business will be EBITDA-positive in 2026 and that KORE is expected to contribute roughly $15 million to $20 million of EBITDA in 2027.
- T1 plans to rebrand KORE’s Northern Reliability installation and operations team as T1 NRI and to market an integrated offering that links generation, storage, system design and ongoing operations.
- The companies framed the acquisition against market forecasts that U.S. utility-scale battery energy storage could more than triple by 2035, a trend they say is driven in part by rising power needs from AI and data centers.