T1 Energy Inc. (NYSE: TE) signed a definitive agreement to acquire KORE Power. The deal carries an enterprise value of approximately $32 million. Payment consists of equity, cash, and assumed debt. A potential $9.6 million earn-out is available based on performance in 2026 and 2027.
The acquisition targets the battery energy storage systems (BESS) and AI data center infrastructure markets. T1 Energy will acquire KORE Power’s NRI division. This division has deployed approximately 1,100 BESS projects globally. The unit brings over 50 years of operational experience. T1 Energy will rebrand the business as T1 NRI upon closing.
The transaction is expected to close in the second quarter of 2026. T1 Energy anticipates the deal will be accretive to EBITDA in 2026. The acquisition is projected to contribute $15 million to $20 million in EBITDA by 2027.