SK On Signs 18 GWh Circular LFP Supply & Manufacturing Deal With NeoVolta Power

SK On and US energy-storage firm NeoVolta Power signed a long-term agreement — inked at a ceremony August 27 at SK On's Seoul headquarters and announced August 31, 2026 — under which SK On will supply 9 GWh of US-made LFP pouch cells from 2027 through 2031 to NeoVolta's BESS assembly plant in Pendergrass, Georgia. Under a paired arrangement, NeoVolta will separately produce battery packs that SK On will purchase over the same period, bringing total deal volume to 18 GWh. Market estimates value the agreement at roughly 1.5 trillion won (~$1.09 billion); terms were not officially disclosed. SK On says it is targeting more than 20 GWh of global ESS orders this year, following a prior 7.2 GWh deal with Flatiron Energy Development.