company news about SK On Secures 7.2 GWh LFP Battery Supply Deal with U.S. Developer

Seoul, South Korea — September 2025
SK On, one of South Korea’s leading battery manufacturers, has signed a long-term agreement with U.S. energy developer Flatiron Energy Development to supply up to 7.2 GWh of lithium-iron-phosphate (LFP) batteries for grid-scale energy storage systems (ESS). The deliveries will take place between 2026 and 2030, marking SK On’s most significant expansion into the global storage market.

Key Highlights

• This is SK On’s first major deployment of LFP cells specifically designed for energy-storage applications, signaling a shift from its traditional NCM EV-battery focus.

• To fulfill the order, SK On will convert part of its EV battery production lines in Georgia, USA into ESS-dedicated LFP lines.

• The deal underscores a broader trend: battery makers are increasingly turning to the fast-growing stationary storage market as EV demand cools.

Industry Impact

The agreement strengthens the U.S. ESS supply chain and supports expanding grid-modernization initiatives. It also highlights the growing global preference for LFP chemistry due to its safety, long cycle life, and cost advantages.