SK On signs 9GWh LFP battery supply deal with U.S. NeoVolta Power

SK On NeoVolta Power LFP batteries Energy Storage Systems ESS supply contract

SK On has signed a major long-term supply agreement with the U.S. energy storage system (ESS) manufacturer NeoVolta Power. Under the contract, SK On will supply 9 gigawatt-hours (GWh) of lithium iron phosphate (LFP) pouch battery cells over a five-year period from 2027 to 2031. The batteries will be produced at SK On’s manufacturing facility in Georgia, USA. Industry estimates value the deal at approximately 1.5 trillion won.

The companies are also discussing an additional 9GWh partnership through a separate agreement. This potential expansion would involve a “tolling arrangement” where SK On provides the cells and NeoVolta Power assembles them into battery packs for SK On to repurchase, potentially bringing the total cooperation volume to 18GWh.

This move marks a strategic shift for SK On as it diversifies its portfolio from high-nickel electric vehicle (EV) batteries toward the growing ESS market, driven by demand from AI data centers and grid renewal projects. The company has set a global ESS order target of over 20GWh for this year, and this contract fulfills nearly half of that goal. To support this expansion, SK On is repurposing production lines in its Georgia and Seosan facilities to accommodate LFP battery production.

Entities

Choi Dae-jin · Flatiron Energy Development · Georgia · Georgia, USA · NeoVolta Power · SK On

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] The contract value is estimated to be approximately 1.5 trillion won (about $1.09 billion). www.thelec.kr · china.timesofnews.com · zdnet.co.kr
[● 5 SOURCES] The supply period for the 9GWh of battery cells is set for five years, from 2027 to 2031. www.energy-news.co.kr · www.thelec.kr · www.newstomato.com · zdnet.co.kr
[● 6 SOURCES] SK On signed a contract to supply 9GWh of lithium iron phosphate (LFP) battery cells to NeoVolta Power. www.energy-news.co.kr · www.thelec.kr · china.timesofnews.com · www.newstomato.com · zdnet.co.kr
[● 2 SOURCES] In South Korea, SK On secured 284MW of the 565MW available in the second ESS central contract market bidding. zdnet.co.kr
[○ 1 SOURCE] SK On is converting production lines in Seosan, South Korea, and Georgia, USA, to focus on LFP batteries for ESS.
[● 5 SOURCES] The battery cells will be manufactured at SK On's facility located in Georgia, USA. www.energy-news.co.kr · www.thelec.kr · www.newstomato.com · zdnet.co.kr
[● 2 SOURCES] SK On has set a global target to secure more than 20GWh of energy storage system (ESS) orders this year. zdnet.co.kr
[● 5 SOURCES] SK On plans to pursue a separate agreement for an additional 9GWh of LFP cells, potentially bringing total cooperation to 18GWh. www.energy-news.co.kr · www.thelec.kr · www.newstomato.com · zdnet.co.kr