SK On, a South Korea-based battery maker, said on August 31, it signed a supply deal with Neovolt Power, a US energy storage system manufacturer with production facilities in Georgia.

Under the deal, SK On will provide 9 GWh of lithium iron phosphate battery cells from 2027 to 2031.

The cells are expected to be made at SK On’s factory in Georgia. Industry estimates valued the contract at about 1.5 trillion won, or roughly US$1.1 billion.

The companies also plan to sign another contract this year for an additional 9 GWh.

If finalised, their planned cooperation would reach 18 GWh.

The agreement is part of SK On’s North American energy storage push.

The company said it would manufacture LFP batteries at a US factory from October 2026, targeting the region’s LFP market for storage applications.

🔗 Source: Chosun Daily

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