SK On signs battery deal with NeoVolta Power

South Korea's SK On said Monday that the battery manufacturer has signed a multi-year contract with U.S. energy storage system, or ESS, corporation NeoVolta Power.

SK On said Monday it signed a major agreement with US-based NeoVolta Power to supply lithium iron phosphate, or LFP, battery cells for energy storage systems, expanding its footing in the rapidly growing North American power market. Under the contract, roughly estimated at 1.5 trillion won ($1.09 billion), SK On will s

SEOUL, Aug 31 : South Korean battery maker SK On said on Monday it has signed a deal to supply U.S. firm NeoVolta Power with 9 gigawatt-hours (GWh) of lithium iron phosphate (LFP) battery cells for energy storage system use over five years from 2027.The pouch-type cells will be produced at SK On's factory in the U.S. s