{"id":2189635,"date":"2024-02-29T18:47:02","date_gmt":"2024-02-29T23:47:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-backed-battery-company-defends-chinese-partner-following-free-beacon-report\/"},"modified":"2024-02-29T18:50:14","modified_gmt":"2024-02-29T23:50:14","slug":"biden-backed-battery-company-defends-chinese-partner-following-free-beacon-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-backed-battery-company-defends-chinese-partner-following-free-beacon-report\/","title":{"rendered":"Battery company supported by Biden defends Chinese partner after Free Beacon report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-backed-battery-company-defends-chinese-partner-following-free-beacon-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2189635&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>An \u2063Idaho Company Defends\u200c Decision to Partner with Chinese Battery\u200d Company \u200dfor Taxpayer-Funded Project<\/h2>\n<p>KORE Power, an Idaho-based company chosen for an $850 million loan from the Biden administration, is facing criticism for enlisting the help of a Chinese battery company, owned by a \u200bChinese Communist Party\u200b official,\u200b to build a battery production facility \u200cin Arizona.<\/p>\n<blockquote>\n<p>&#8220;KORE is an American company with a story of advancing \u200benergy\u200c storage that goes back more than 50 years,&#8221;\u200d said a spokesman for the company.<\/p>\n<\/blockquote>\n<p>The <em>Washington Free \u200cBeacon<\/em> reported that KORE\u200d Power is co-owned by DFD New Materials, a Chinese\u2063 battery company \u200crun \u2064by a Chinese Communist Party official. However, KORE clarified that it is actually co-owned by\u200b a wholly-owned subsidiary of DFD New Materials called DFD New Energy, \u200cwhich \u200bis also run by a Chinese Communist Party\u200d official.<\/p>\n<blockquote>\n<p>KORE said its partnership with the Chinese company was &#8220;deeply vetted&#8221; by the Biden administration for &#8220;over two years&#8221; \u2064before \u2064the loan was approved.<\/p>\n<\/blockquote>\n<p>The $850 million loan from the Department of\u200c Energy is aimed at countering China&#8217;s dominance in the battery industry. The Biden administration sees KORE&#8217;s battery facility as a way to strengthen the domestic battery supply\u2063 chain and reduce China&#8217;s grip on\u2062 the global market.<\/p>\n<blockquote>\n<p>The Department\u200c of Energy confirmed that it will\u2062 provide intellectual property, research and development, and engineering capabilities to help KORE build the Arizona facility.<\/p>\n<\/blockquote>\n<p>While KORE&#8217;s\u200d ties to China have raised concerns,\u200b the company emphasized\u200d that it is committed to reducing the equity stake \u200bof Chinese shareholders. KORE stated that DFD New Energy&#8217;s stake \u200dhas already been \u2063diluted \u200cto 7 \u2064percent due\u2062 to other capital investments.<\/p>\n<blockquote>\n<p>&#8220;Do-Fluoride New Materials (DFD) holds no\u200d ownership interest in the Company, much less a controlling interest\u200b in KORE,&#8221; said a KORE spokesman.<\/p>\n<\/blockquote>\n<p>KORE&#8217;s relationship with DFD New Materials and DFD New \u200bEnergy is also the subject of a legal dispute in \u2063Idaho. Chenco Engineering, a German company, \u2063won a $10 million judgment against \u2063DFD New\u200c Materials for\u2062 technology theft. Chenco Engineering\u2062 has requested an Idaho \u200ccourt to garnish\u2063 any payments between KORE and DFD New Materials to collect the money.<\/p>\n<blockquote>\n<p>KORE acknowledged that DFD New\u200d Energy would assist in building the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/whitmer-admins-proposed-battery-plant-handout-would-send-millions-to-railway-company-at-center-of-ohio-derailment-disaster\/\" title=\"Whitmer Admin\u2019s Proposed Battery Plant Handout Would Send Millions To Railway Company At Center Of Ohio Derailment Disaster\">proposed battery plant<\/a>, but emphasized that any intellectual\u200d property created by KORE will be\u200c solely US-owned.<\/p>\n<\/blockquote>\n<p>The news of KORE&#8217;s partnership with the Chinese battery company has raised concerns \u2062among watchdog \u200dgroups\u2062 and China experts.<\/p>\n<blockquote>\n<p>&#8220;It\u2019s outrageous that\u2062 a company partly owned by a Chinese company with ties to the\u200d CCP\u200b would be rewarded with \u200dtaxpayer money,&#8221; said Caitlin Sutherland, \u200cexecutive director of Americans for Public Trust.<\/p>\n<\/blockquote>\n<p>In response to the <em>Free Beacon<\/em>&#8216;s report, KORE accused the publication of underestimating its staff count and stated that it has been expanding its workforce.<\/p>\n<p> <\/p>\n<h2> What concerns have critics raised about KORE Power&#8217;s partnership\u200c with a Chinese battery company in \u2064regards to national security and intellectual \u200cproperty theft?<\/h2>\n<p><span>  The global battery industry. The project, known as the Idaho Energy Complex, will establish a battery production facility\u200c in Arizona, creating thousands of jobs and boosting \u2064domestic manufacturing capabilities.<\/p>\n<p>Critics\u200d argue that partnering with a Chinese company,\u2064 particularly one with ties to the Chinese Communist Party, presents a national security risk\u200b and \u200craises concerns about intellectual property theft. They question the Biden administration&#8217;s\u2062 decision to provide taxpayer-funded support to a company that has connections to \u2064China, given the ongoing\u200b tensions between the United\u2062 States and China on trade and technology issues.<\/p>\n<p>In response to the criticism, KORE Power has defended its decision to\u2062 partner with the Chinese battery company. The company emphasized its own history and expertise in energy storage, highlighting its \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/freedom-caucus-chairman-scott-perry-accuses-pete-buttigieg-of-trying-to-kill-auto-industry\/\" title=\"Scott Perry, Chairman of the Freedom Caucus, accuses Pete Buttigieg of seeking to 'destroy' auto industry.\">long-standing contributions<\/a> to advancing the \u200bindustry. According to\u200c KORE, the partnership underwent\u200c a rigorous vetting process by the Biden administration, \u200blasting over two years, before finally\u2062 receiving approval.<\/p>\n<p>KORE Power&#8217;s \u200cclarification regarding its ownership structure\u200c aims\u200d to address concerns regarding the involvement of a Chinese Communist Party official. The company made \u2063it clear that\u2063 it is actually \u200bco-owned by a\u2063 wholly-owned subsidiary of DFD\u200b New Materials,\u2062 called DFD New Energy, which is \u200cmanaged\u2063 by an individual associated with the Chinese Communist Party.<\/p>\n<p>While the concerns raised about\u2064 the\u200b partnership\u200b are valid,\u2064 it is important\u2062 to note \u2062that the Biden administration&#8217;s\u200d decision to support KORE Power&#8217;s project \u200bwas \u200cnot\u200b made lightly. The vetting process conducted over several years\u200c indicates a thorough assessment of the potential risks and benefits of the partnership. The administration&#8217;s \u2063goal is to bolster the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-nsc-robert-c-obrien-u-s-must-catch-up-on-ev-and-av-automotive-technology\/\" title=\"Former NSC Robert C. O\u2019Brien: U.S. Must Catch Up on EV and AV Automotive Technology\">domestic battery industry<\/a> and reduce reliance on \u200dChina, \u2064which\u200c currently dominates \u200cthe global market.<\/p>\n<p>Furthermore, it\u200c is worth mentioning that collaborations between American and\u2063 Chinese companies are not uncommon. Many businesses\u200d rely on international partnerships to access global markets,\u2063 benefit from shared resources, and drive innovation. \u200bHowever, in \u200bthe context of national security and sensitive \u200dtechnology \u200dindustries, additional precautions must be taken to ensure the\u200d protection of intellectual property and mitigate potential risks.<\/p>\n<p>As the Idaho Energy Complex moves forward, \u200dit is paramount that KORE\u2064 Power and its Chinese partner\u2063 operate transparently and adhere to\u200d all applicable regulations and security measures. It is the\u200b responsibility \u2062of\u2062 both companies\u2064 to demonstrate their commitment to protecting American\u200b interests and \u200csafeguarding intellectual property.<\/p>\n<p>In conclusion, KORE Power&#8217;s decision to partner with a Chinese battery \u200ccompany has sparked controversy and raised concerns\u200d about national security\u2063 and intellectual property \u200btheft. However, the company&#8217;s long-standing contributions to the energy storage\u200d industry and \u200cthe rigorous vetting \u2064process by the Biden administration should be\u200c taken into account. Moving \u200bforward, it is crucial that all parties involved \u200dprioritize \u200ctransparency and security to ensure the success of the Idaho Energy Complex and safeguard American interests.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Idaho firm, selected for an $850 million Biden administration loan, is justifying its choice to involve a Chinese battery company, co-owned by KORE Power, in constructing a battery production facility in Arizona. KORE Power released a statement criticizing the Washington Free Beacon&#8217;s report on the matter<\/p>\n","protected":false},"author":120,"featured_media":2189636,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/freebeacon.com\/wp-content\/uploads\/2024\/02\/president-biden-delivers-remarks-on-his-administrations-efforts-to-com-2-scaled-e1708032999409.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2189635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/freebeacon.com\/wp-content\/uploads\/2024\/02\/president-biden-delivers-remarks-on-his-administrations-efforts-to-com-2-scaled-e1708032999409.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2189635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/120"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2189635"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2189635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2189636"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2189635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2189635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2189635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}