Feds approve $850M loan for construction of KORE Power facility in Buckeye

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value.   Phone / Prefer cell: 520-975-5207
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bigAZMEDIA 6/12/2023

Following the urging of Arizona Senators Kyrsten Sinema and Mark Kelly, the U.S. Department of Energy (DOE) today announced it approved a loan of $850 million for the construction of a new KORE Power battery cell manufacturing facility in Buckeye, Arizona – creating nearly 2,000 strong careers for hardworking Arizonans. 

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DEEPER DIVE: Eric Orsborn uses development background to make Buckeye a boomtown


The bipartisan infrastructure law – historic legislation led by Sinema and shaped by Kelly – expanded the Advanced Technology Vehicle Manufacturing authorities and loan authorities that made today’s investment possible.

“My bipartisan infrastructure law continues to deliver real, lasting results across our state. Today’s announcement creates strong careers for everyday Arizonans, boosts national security by reducing reliance on foreign nations, and strengthens America’s energy independence and leadership,” said Sinema, co-author and lead negotiator of the bipartisan infrastructure law.

“This is big news for Arizona and the country, supporting KORE Power’s Gigafactory in Arizona will bring manufacturing back to America for a critical supply chain, while creating good-paying jobs. The administration is taking advantage of the resources we provided to not just boost jobs in Arizona, but also to strengthen our national security by reducing our dependence on foreign sources of battery components for everything from electric vehicles to energy storage. Thanks to KORE Power and the rest of our emerging battery sector, Arizona will be front and center leading the country in developing and manufacturing the technology that will power our economy into the future,” said Kelly. 

Last month, Sinema and Kelly urged DOE to support KORE Power, Inc.’s application for a $850 million loan through its Advanced Technology Vehicles Manufacturing Loan Program – which Sinema bolstered in her infrastructure law. 

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The $850 million investment is intended to cover the costs of developing, designing, commissioning, and operating a 6 GWh lithium-ion cell manufacturing facility. These battery cells will be used in electric vehicle, energy storage system, and mobile energy system applications.

Lithium-ion – a type of rechargeable battery which uses the reversible reduction of lithium ions to store energy – is and will remain the dominant energy storage technology until 2030 for both the ground mobility and stationary storage markets. Producing lithium-ion cells domestically is critical to the future of national and economic security, as the Li-ion battery manufacturing is currently dominated by China.

In their letter to DOE, the Senators asserted that large-scale investments in lithium-ion cell manufacturing like the new KORE Power facility in Buckeye are critical to U.S. energy independence and leadership for the remainder of this decade and beyond.

The project is expected to create approximately 700 construction jobs and 1,250 operations jobs. KOREPlex is working with nearby colleges and tribes to train the local workforce for strong operations roles.

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FROM ME:  FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me     walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net,  CCIM,  CREXi, Catylist, and various other web sites.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international

DISCOVER WHAT IS HAPPENING IN ARIZONA

History of Arizona from  900 BC – 2017 -Timeline.

   What is a CCIM.  In Business and in Life you don’t get what you deserve, you get what you Negotiate.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

contact me if you want the me to get you the value of your property.

Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net

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Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Walter Unger CCIM

Associate Broker

West USA Commercial Division

14350 N. 87th. Street, Suite 180

Scottsdale AZ, 85260

Phone: 480-948-5554

Cell: 520-975-5207

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What is a CCIM.

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

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  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

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Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

14350 N. 87th. Street, Suite 180

Scottsdale AZ, 85260

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME

CLICK HERE TO VIEW ALL MY LISTINGS. 

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

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