Photo: T1 Energy T1 Energy, formerly known as FREYR Battery, is buying battery storage and software company KORE Power in a deal aimed at growing its presence in the fast-expanding energy storage and AI data center markets. The deal is valued at around $32 million in equity, cash, and assumed debt, and is expected to close in Q2 2026. The highlight of T1’s acquisition is KORE Power’s NRI division, which designs, installs, and operates large-scale battery energy storage systems (BESS). T1 says KORE’s NRI team has worked on around 1,100 battery storage projects worldwide and has provided energy storage solutions to the US government, national laboratories, utilities, developers, and industrial customers for more than 50 years. T1 said it plans to rename KORE Power as T1 NRI after the deal closes. Advertisement – scroll for more content The acquisition gives T1 an entry into the growing battery storage market, driven by rising electricity demand and the rapid expansion of AI data centers that require massive amounts of power. Research firm Rystad Energy projects that the …