KORE Power Inc.’s CEO is stepping down and the company has confirmed it will no longer build its proposed $1 billion battery manufacturing plant in the West Valley.The moves come as rumors have swirled in recent weeks about the state of the project.KORE Power has listed its 215-acre property in Buckeye for sale on LoopNet after trying to sell the land off the market and telling investors in recent days that it would no longer build battery manufacturing operations in Arizona, according to sources with knowledge of the company’s plans.On Jan. 31, a statement provided to the Business Journal by KORE Power said that it continues to grow its business and manufacture American-made energy storage systems at its facility in Waterbury, Vermont, and that it has recently undertaken a restructuring to provide more benefit to its customers while positioning the company for long-term success.”Plans for the KOREPlex in Buckeye, Arizona will not move forward at this time,” the statement said. “While KORE is selling the proposed greenfield project site, the company has been exploring other opportunities to expand its domestic manufacturing that have led to this pivot.”The company added that it wants to “thank everyone” in Buckeye, Maricopa County and Arizona who “welcomed KORE and supported the company through this process. KORE believes a strong market remains across the nation for battery cells and modules manufactured in America by an American company.”The sale listing for KORE’s property, which was first reported …
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