KORE Solutions, Inc. designs and builds electric power systems on seven continents that equip off-grid applications with renewable energy while reducing fossil fuel dependence. Since our investment in 2015, the Company has grown revenues 3 fold, added 17 quality jobs, and was acquired in 2021 by KORE Power, Inc. Now known as KORE Solutions, Inc., the company continues to grow good paying, renewable energy jobs, and is revolutionizing the battery storage industry with its new NOMAD mobile battery storage units. KORE has since exited our revenue based financing note, but the Flex Fund holds equity in the parent company KORE Power.
Formed in 2007 by former Northern Power Systems (Barre) employees, Northern Reliability has built a solid track record in engineering and product innovation to help customers become more energy independent. In early 2015, Jay Bellows was hired as CEO to increase sales efforts and energy storage solutions in the growing renewable energy market sector. The Flex Fund’s investment is helping Northern Reliability continue to ramp up sales and marketing efforts, hire new and maintain current employees, and support product development. Vermont clients include Northern Power Systems, Renewable NRG Systems, and Green Mountain Power.