{"id":21715,"date":"2025-07-11T09:40:08","date_gmt":"2025-07-11T00:40:08","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=21715"},"modified":"2025-12-12T19:31:50","modified_gmt":"2025-12-12T10:31:50","slug":"sk-on-set-to-make-inroads-into-n-americas-lfp-battery-market-for-ess","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/21715","title":{"rendered":"SK On Set to Make Inroads into N. America\u2019s LFP Battery Market for ESS"},"content":{"rendered":"

\u25a0 Battery maker signs LFP cathode materials supply MoU with L&F<\/span><\/strong><\/p>\n

\u25a0 Company laying groundwork for key materials supply chain for ESS business<\/span><\/strong><\/p>\n

SEOUL — SK On, a leading global battery and trading company, is set to accelerate its lithium iron phosphate (LFP) battery business targeting North America\u2019s energy storage system (ESS) market as it moves to establish a reliable supply chain to support its latest venture. <\/span><\/p>\n

SK On announced today it signed a memorandum of understanding (MoU) with L&F on the supply of LFP cathode materials for the North American market.<\/span><\/p>\n

The agreement outlines plans for the two companies to discuss details, such as supply volume and period, with a view toward building a mid- to long-term partnership.<\/span><\/p>\n

SK On said it partnered with L&F, a major battery materials maker based in South Korea, to actively address rising demand for LFP batteries in the United States. The move is particularly aimed at strengthening the company\u2019s entry into the fast-growing ESS sector.<\/span><\/p>\n

ESS installations in the U.S. have been rising rapidly, fueled by the expansion of AI data centers requiring reliable and scalable energy storage solutions. According to BloombergNEF, ESS installations in the U.S are projected to reach a cumulative capacity of 133 gigawatts (GW) by 2030 and 250 GW by 2035, up from 19 GW in 2023.<\/span><\/p>\n

In line with this growth, demand for LFP batteries is also expected to rise sharply. According to the International Energy Agency (IEA), LFP batteries accounted for approximately 80% of the global ESS market in 2023, driven by their cost competitiveness and strong safety profile.<\/span><\/p>\n

Reflecting these trends, the battery industry has continued its efforts to build LFP battery production capacity in the U.S.<\/span><\/p>\n

SK On plans to establish LFP battery production capabilities by repurposing existing production lines, in line with its ongoing localization strategy.<\/span><\/p>\n

SK On, part of South Korea\u2019s second-largest conglomerate SK Group, currently operates two battery plants and is building four more plants with its partners in the U.S. SK On\u2019s annual production capacity in the country is projected to be more than 180 GWh once they are fully operational.<\/span><\/p>\n

“This MoU marks a significant milestone in boosting SK On\u2019s LFP battery value chain and advancing our entry into the North American ESS market,” said Youngkee Shin, Head of Procurement at SK On. “We aim to establish a strong foundation for U.S.-made LFP batteries.\u201d <\/span><\/p>\n

SK On has been actively developing LFP batteries as part of its battery chemistry diversification strategy.<\/span><\/p>\n

The company unveiled its first LFP battery prototype at InterBattery 2023, followed by the introduction of the ‘Winter Pro Battery’\u2014designed for improved low-temperature performance\u2014in 2024, and a long-life LFP battery in 2025.<\/span><\/p>\n

[Photo]
\n<\/strong><\/span><\/p>\n

Youngkee Shin (L), Head of Procurement at SK On, and Byunghee Lee, Chief Operating Officer of L&F, pose for a photo after signing a memorandum of understanding on the supply of LFP cathode materials at SK On\u2019s Green Campus in Seoul on July 10.<\/span><\/p>\n

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– SK On to Showcase Expanded Battery Portfolio at InterBattery 2025<\/a><\/span>
\n– SK On presents next generation technologies under the theme of \u201cMove On\u201d at InterBattery 2023<\/a><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u25a0 Battery maker signs LFP cathode materials supply MoU with L&F \u25a0 Company laying groundwork for key materials supply chain for ESS business SEOUL — SK On, a leading global battery and trading company, is set to accelerate its lithium iron phosphate (LFP) battery business targeting North America\u2019s energy storage system (ESS) market as it … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":21718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1914,1915],"tags":[1918,35,1385,648],"class_list":["post-21715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-presspress","category-press-releases","tag-batteriesmaterials","tag-battery","tag-lfp","tag-sk-on"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/21715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=21715"}],"version-history":[{"count":9,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/21715\/revisions"}],"predecessor-version":[{"id":153599,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/21715\/revisions\/153599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/21718"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=21715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=21715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=21715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}