{
  "id": 4543245,
  "title": "SK On Wins $1.1 Billion U.S. ESS Battery Deal",
  "url": "https://urgent.news/2026/08/31/sk-on-wins-1-1-billion-u-s-ess-battery-deal",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-31T01:58:16.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=275821"
  },
  "original_language": "en",
  "account": "SK On has secured a significant contract worth approximately $1.09 billion in the United States energy storage system (ESS) market, marking a shift in its focus from high-nickel batteries for electric vehicles to lithium iron phosphate (LFP) batteries for ESS applications. The company announced on August 31 that it had signed a supply agreement with U.S. ESS maker NeoVolta Power on August 27 at its Gwanhun Campus in Seoul. Under the five-year contract, SK On will supply 9 gigawatt-hours (GWh) of LFP pouch cells, beginning in 2027 and ending in 2031. The agreement is valued at roughly 1.5 trillion won, with all batteries to be manufactured at SK On's facility in Georgia. SK On plans to convert some production lines at the plant to focus on ESS LFP production in the second half of 2023, initially for Flatiron Energy and subsequently for NeoVolta Power. The deal underscores SK On's U.S. production capabilities and technological strengths, positioning the company for long-term collaboration. SK On, which already operates about 100 GWh of production capacity in North America, aims for over 20 GWh in global ESS orders this year, with the NeoVolta Power deal accounting for nearly half of that goal.",
  "summary": "SK On has secured a major order worth about 1.5 trillion won ($1.09 billion) in the U.S. energy storage system (ESS) market, expanding beyond its focus on high-nickel batteries for electric vehicles into lithium iron phosphate (LFP) batteries for ESS.SK On said on Aug. 31 that it signed a battery-ce",
  "key_points": [
    "SK On secures $1.09 billion ESS battery contract with NeoVolta Power.",
    "Agreement supplies 9 GWh of LFP pouch cells from 2027 to 2031.",
    "Production shifts to Georgia facility in second half of 2023."
  ],
  "editors_take": "This deal cements SK On's position in the US energy storage system market, leveraging its local production capabilities to secure long-term collaboration and drive growth in lithium iron phosphate battery orders.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}