{
  "id": 4544857,
  "title": "SK On signs ESS battery deal with U.S. firm NeoVolta Power",
  "url": "https://urgent.news/2026/08/31/sk-on-signs-ess-battery-deal-with-u-s-firm-neovolta-power",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-31T01:32:51.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20260831003500320"
  },
  "original_language": "en",
  "account": "SK On, a South Korean battery manufacturer, has signed a long-term agreement with U.S. company NeoVolta Power to supply energy storage system (ESS) battery cells. The deal involves SK On supplying 9 gigawatt-hours (GWh) of lithium iron phosphate (LFP) battery cells over five years, starting in 2027, with production taking place in Georgia. NeoVolta Power brings its energy storage expertise and manufacturing capabilities to the partnership, which is expected to accelerate growth for both companies in the U.S. ESS battery market. While the exact value of the deal is not disclosed, estimates suggest it could be worth around 1.5 trillion won (USD 1.09 billion). SK On plans to sign a separate agreement with NeoVolta Power within the year to supply another 9 GWh of LFP cells, with the U.S. firm manufacturing energy storage packs to be purchased by SK On through 2031. This partnership allows SK On to expand its presence in the U.S. ESS battery market and address growing local demand, as it seeks to overcome challenges in the electric vehicle battery market.",
  "summary": "SEOUL, Aug. 31 (Yonhap) -- South Korean battery maker SK On said Monday it has s...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "South Korea's SK On signs energy storage battery deal with US firm NeoVolta Power",
        "url": "https://urgent.news/2026/08/30/south-koreas-sk-on-signs-energy-storage-battery-deal-with-us-firm",
        "published": "2026-08-30T23:05:34.000Z"
      },
      {
        "outlet": "Yonhap News",
        "title": "S. Korea, U.S. discuss energy cooperation amid heightened uncertainty",
        "url": "https://urgent.news/2026/08/31/s-korea-u-s-discuss-energy-cooperation-amid-heightened-uncertainty",
        "published": "2026-08-31T00:30:00.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Korea, US discuss energy cooperation amid heightened uncertainty",
        "url": "https://urgent.news/2026/08/31/korea-us-discuss-energy-cooperation-amid-heightened-uncertainty",
        "published": "2026-08-31T01:02:03.000Z"
      }
    ]
  },
  "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."
}