Business & Finance
NeoVolta secures 9 GWh battery cell supply agreement with SK On
The five-year deal provides US-made lithium iron phosphate cells to support NeoVolta's storage facility expansion in Georgia.
The short version
- NeoVolta Power signed an agreement with SK On to receive 9 GWh of lithium iron phosphate battery cells from 2027 through 2031.
- The components will supply NeoVolta's manufacturing facility in Pendergrass, Georgia, for commercial, industrial, and utility-scale energy storage systems.
- A potential expansion framework for an additional 9 GWh remains contingent on future commercial terms and purchase orders.
Key facts
- SK On agreed to supply NeoVolta Power with 9 gigawatt-hours of US-manufactured lithium iron phosphate (LFP) pouch cells between 2027 and 2031.[Electrek]
- The cells will be assembled into battery energy storage systems at NeoVolta's plant in Pendergrass, Georgia.[Electrek]
- NeoVolta's Pendergrass facility launched in January with an initial 2 GWh annual production line and plans to scale total capacity up to 8 GWh by 2028.[Electrek]
- The companies outlined a framework for an additional 9 GWh of cells that NeoVolta would assemble into packs for SK On to repurchase.[Electrek]
What remains uncertain
- The secondary 9 GWh framework is not finalized and remains dependent on finalized commercial terms and future order volumes.[Electrek]