SK On – NeoVolta Battery Supply Agreement
SK On announced a five‑year contract to provide NeoVolta Power with 9 gigawatt‑hours of lithium‑iron‑phosphate (LFP) pouch‑cell battery cells. The supply will be delivered over the period 2027 through 2031, with all cells manufactured at SK On’s production facility located in the United States. NeoVolta Power, a U.S. energy‑storage company, will use the cells in its LFP pouch‑cell‑based battery energy storage system products.
Yonhap News, citing industry sources, valued the agreement at approximately 1.5 trillion won. SK On operates as a privately owned subsidiary of the SK Innovation Group. Following the announcement, shares of SK Innovation surged more than 6 % on the trading day.
Published 31‑08‑2026 by Reuters.