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December 15, 2017


PIKEVILLE, Ky., December 15, 2017 – Kentucky Power on Friday joined state and local leaders as EnerBlu announced its plans to invest $412 million in central and eastern Kentucky.

 

Kentucky Power President Matt Satterwhite welcomes EnerBlu to eastern Kentucky on Friday. Kentucky Power worked with state and local leaders to bring the company to the region.Kentucky Power President Matt Satterwhite welcomes EnerBlu to eastern Kentucky on Friday. Kentucky Power worked with state and local leaders to bring the company to the region.



EnerBlu, an energy innovation company, plans to employ 875 with an average annual salary of $81,000 at a manufacturing facility to be built at the Kentucky Enterprise Industrial Park in Pikeville. Another 110 will work at the company’s new Lexington headquarters. The manufacturing facility will make lithium-titanate oxide (LTO) batteries, called EnerBlu Advanced Energy Storage Units. The batteries will power transit buses, commercial trucks, military vehicles and other equipment. The project, to be completed in 2020, is the result of a partnership that included Kentucky Power, Gov. Matt Bevin, Congressman Hal Rogers, One East Kentucky, the City of Pikeville, and other state and local leaders.

“Building a new energy company that can benefit both the local and global community is not only exciting, but very meaningful to us,” said EnerBlu Executive Chairman Michael Weber. “Kentucky Power has been at the forefront of the revitalization of eastern Kentucky by helping to attract companies that can put coal miners back to work through retraining and durable jobs. We look forward to working with them as we build our facility in Pikeville.”

EnerBlu is the sixth manufacturer to announce in 2017 that it is building facilities in eastern Kentucky with support and help from Kentucky Power. Kentucky Power visited EnerBlu’s facilities in Riverside, California, earlier this year to explore partnerships and help recruit the company to the region. Kentucky Power also provided $120,000 through a partnership of customers and stockholders to help fund geotechnical surveying and testing at the park and spearheaded efforts to develop the former mine site into an industrial park instead of a subdivision and golf course.

Kentucky Power also was instrumental in forging partnerships with and among several groups in bringing in business to the region. Projects announced in 2017 include:


· Braidy Industries, aluminum rolling mill, 550 jobs (plus 1,000 construction jobs), Ashland;


· Silver Liner, a tanker truck manufacturer, 300 jobs, Pikeville;


· AppHarvest, an agricultural grow operation, 140 jobs, Pikeville;


· Wright-Mix Materials, liquid chemicals, grouts, cement products, 130 jobs, Greenup County;


· Thoroughbred Aviation, aircraft maintenance, avionics, painting, 15 jobs, Martin County.

“Economic development is not just important, it is vital to eastern Kentucky,” said Matt Satterwhite, president and chief operating officer of Kentucky Power. “Today’s announcement demonstrates why Kentucky Power is investing in economic development and promoting the resources we have in eastern Kentucky. Our partnership with EnerBlu and other employers who are bringing jobs to our communities is the result of working together to grow the entire region.”

In the last five years, Kentucky Power has invested nearly $4 million in economic development in eastern Kentucky, including water and sewer projects; broadband expansion; industrial site development and certification; workforce research; and other endeavors.

A partnership of Kentucky Power customers and shareholders funds many of the projects. Customers contribute 15 cents each month to the Kentucky Power Economic Growth Grant (K-PEGG) program. All customer contributions are then matched by stockholders to generate about $600,000 a year for the region.

“We appreciate the support that we have received from the entire state of Kentucky and the team at Kentucky Power,” said Daniel Elliott, EnerBlu president and CEO. “By working with local companies, including the utilities in Kentucky, EnerBlu will continue to develop its power products to meet the needs of commercial and military customers in Kentucky and around the world.”

 

Comments  

0 #6 voter too 2017-12-24 04:37
Are you kidding? AEP is supposed to supply reliable, affordable electric service. When the He&% did a public service company get involved in economic development at some cost to the ratepayers? Sounds to me like they are padding their own pockets and loss of revenue at the customers' expense.
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0 #5 Nothing 2017-12-23 18:44
Lawrence County gets absolutely nothing but food centers, restaurants, gas stations and a Walmart. Same ol, same ol...oh yeah, and used car lots, lmao but it sure as hell ain’t funny. We got an over $20 million dollar courthouse that keep a few badge wearing flunkies warm in the winter n cool in the summer, big completely useless building and waste of money.
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+3 #4 Whatever 2017-12-18 16:18
This is smoke & mirrors to deflect attention away from the rate increase while trying to come off as philanthropy in wolves clothing!
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+1 #3 AEP 2017-12-16 23:10
Robin Hood reversal. Taking from the poor giving to the rich. Then AEP has the nerve to publicize their legal extortion. Allison we see right through your BS. Find another line of work. Preferable an honest one.
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+3 #2 in the know 2017-12-16 17:13
(From Article)In the last five years, Kentucky Power has invested nearly $4 million in economic development in eastern Kentucky, including water and sewer projects; broadband expansion; industrial site development and certification; workforce research; and other endeavors.

How much of this was the RATEPAYERS money?
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+3 #1 in the know 2017-12-16 16:21
I never once saw in the press release where Ky. Power played a MAJOR role in Enerblu coming to eastern Ky. They can say what they want. They are playing the political ball game. If you look at the top of this article you will see Allison Barker wrote it. She is a Ky. Power employee. Always keep that in mind, right Allison?
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