SK On, a leading global battery and trading company, has entered into the US battery energy storage system (BESS) market with lithium iron phosphate (LFP) batteries, marking a significant milestone in the company’s long-term growth and product diversification.
SK On, part of South Korea’s second largest conglomerate SK Group, secured a BESS supply contract with Flatiron Energy Development, a US utility scale energy storage developer, owner, and operator.
Under the agreement, SK On will be able to supply up to 7.2 GWh of BESS for Flatiron’s projects in New England and other states through 2030.
SK On will start with the supply of containerised BESS units featuring 1 GWh of LFP batteries for a project in Massachusetts, with deliveries beginning in 2H26. SK On will begin the mass production of LFP batteries for BESS by leveraging part of its electric vehicle (EV) battery production lines at SK Battery America (SKBA), its wholly-owned subsidiary in Commerce, Georgia.
This highlights SK On’s strategic expansion into the BESS market in the US alongside its growth in the LFP battery sector, underscoring its commitment to portfolio diversification and sustainable growth.
Building on its partnership with Flatiron, SK On will continue delivering high-quality, American-made LFP batteries to support the nation’s rapidly growing energy and BESS sectors. SK On has been strengthening its US presence with a robust production network, with SKBA serving as its key hub since 2022.
Known for its deep experience in manufacturing batteries for EVs, SK On plans to leverage cost-competitive and safe LFP batteries for BESS applications, where size and weight are less of a constraint.
Its BESS will feature a modular design for flexible, scalable solutions, along with advanced safety measures such as heat propagation prevention and electrochemical impedance spectroscopy (EIS)-based battery diagnostics for reliable operation.
Established in 2021, Flatiron specialises in utility scale BESS development, managing the entire value chain from design to construction, and long-term operation across North America.
Jonathan Poor, Chief Operating Officer and Co-Founder at Flatiron, commented: “Having a partnership with a global leader in battery production with strong engineering and integration capabilities, along with domestic resources has become a strategic imperative. We look forward to deploying multiple projects under this partnership over the coming years.”
Daejin Choi, Head of ESS Business at SK On, added: “This deal is significant as it expands both our product and business portfolio. We will continue to strengthen our presence in the BESS sector by leveraging our advanced technologies and production capabilities.”
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