SK On secures 9GWh US ESS battery cell deal
SK On has signed a contract to supply 9 GWh of LFP battery cells for energy storage systems (ESS) to US-based NeoVolta Power, with deliveries scheduled from 2027 to 2031.
Our take
Are Korean battery makers becoming LFP cell suppliers for US battery storage?
One Korean battery maker is starting to supply US-made LFP cells for battery storage, but a single five-year contract with one customer is an early step rather than an established supply role.
The cells come from its Georgia plant over 2027 to 2031, which supports the plant's utilisation. A second agreement of the same size is planned under a different structure but not yet signed, and it would show whether this grows beyond one contract.
For investors — Storage developers and procurement teams sourcing US-made LFP cells should confirm available volumes directly with the maker, since the volume here is committed to one customer.
Investors in Korean storage projects should not read this as a change in cell cost or supply in Korea, which the article does not address.
Watch: SK On's announcement of the 9 GWh ESS battery cell supply contract with NeoVolta Power.
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