SK On Adds Large-Scale Battery Cell Agreement as U.S. ESS Business Accelerates
SK On continues to build its presence in the U.S. energy storage market, recently signing a master supply agreement with U.S. energy company NeoVolta Power. Under the agreement, SK On will provide 9 gigawatt-hours (GWh) of LFP pouch battery cells between 2027 and 2031, produced by SK On in the U.S.
SK On also plans to pursue a strategic partnership with NeoVolta Power through a separate contract within the year, providing an additional 9 GWh of LFP battery cells for ESS on a consignment basis and purchasing them as pack products in which NeoVolta Power has expertise.
The agreement is part of a broader move by SK On to leverage its U.S. manufacturing footprint to meet growing demand for energy storage systems (ESS). The company is diversifying its portfolio beyond high-nickel EV batteries to LFP batteries for ESS.
At the Clean Power conference in Houston in June, the company introduced its GRIDON brand to North America and unveiled GRIDON Gen 2, a next-generation energy storage system designed to serve customers from data center operators to grid operators.
For more on recent developments in SK On’s ESS business, visit these links: