T1 Energy Targets Data Center Gold Rush With KORE Power Acquisition

T1 Energy agreed to acquire KORE Power Inc., a battery energy storage systems (BESS) provider, for approximately $32 million in enterprise value. The acquisition gives T1 entry into the fast-growing energy storage and AI data center infrastructure markets. T1 expects the deal to be EBITDA-positive in 2026 and contribute $15-20 million in EBITDA in 2027, with a potential earnout of up to $9.6 million based on performance. The transaction is expected to close in Q2 2026.