Five-Year Agreement Secures 9 GWh of U.S.-Manufactured LFP Cell Supply for NeoVolta Power
Additional 9 GWh Cell Supply and Pack Purchase Arrangement, Under Which SK On Will Purchase Energy Storage Packs from NeoVolta Power From 2027 through 2031, Expanding Total Collaboration to 18 GWh
SAN DIEGO, Aug. 31, 2026 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) ("NeoVolta" or the "Company"), a U.S.-based energy technology company delivering scalable energy storage solutions, today announced that its majority-owned subsidiary, NeoVolta Power, LLC ("NeoVolta Power"), has entered into a five-year strategic supply and manufacturing collaboration with SK On ("SK On").
The collaboration begins with a signed agreement for SK On to supply 9 gigawatt-hours ("GWh") of U.S.-manufactured lithium iron phosphate ("LFP") battery cells to NeoVolta Power from 2027 through 2031. The agreement also establishes a framework for broader collaboration in which SK On will supply an additional 9 GWh of LFP cells to NeoVolta Power from 2027 through 2031, and NeoVolta Power will produce energy storage packs for purchase by SK On. Together, the initial cell-supply agreement and broader pack-manufacturing collaboration are expected to support up to 18 GWh of combined activity between the companies.
Key highlights
- Long-term U.S. cell supply: The signed five-year agreement provides for 9 GWh of U.S.-manufactured LFP cell supply from SK On from 2027 through 2031, supporting NeoVolta Power's Pendergrass production expansion.
- Broader pack purchase collaboration: The parties have established a framework under which SK On will provide an additional 9 GWh of LFP cells, NeoVolta Power will produce energy storage packs to be purchased by SK On from 2027 through 2031.
- Strategic manufacturing opportunity: The collaboration establishes SK On as a strategic supply chain partner and customer for NeoVolta Power's domestic BESS manufacturing platform as demand for reliable, scalable power infrastructure grows across utility, commercial, industrial, AI data-center markets.
- Capacity expansion potential: The scale and multi-year nature of the relationship support NeoVolta Power's evaluation of additional production capacity at Pendergrass, including a second production line designed around pouch-format LFP cells.
- Domestic supply-chain position: The collaboration advances NeoVolta Power's strategy to pair U.S.-manufactured LFP cells with domestic BESS manufacturing for commercial, industrial and utility-scale BESS applications.
Strategic Collaboration
"This collaboration represents an important milestone in NeoVolta's expansion into large-scale energy storage and the continued buildout of our U.S. manufacturing platform," said Ardes Johnson, Chief Executive Officer of NeoVolta. "The initial agreement secures long-term access to U.S.-manufactured LFP cells for our Pendergrass production expansion, while the broader collaboration positions NeoVolta Power to manufacture energy storage packs for SK On. Together, these initiatives reinforce our strategy to build a domestic energy storage platform designed to meet growing demand for reliable, high-performance BESS solutions."
The signed agreement establishes SK On as the primary cell supplier for NeoVolta Power's LFP pouch-cell-based BESS products. The broader collaboration will leverage NeoVolta Power's domestic manufacturing capabilities, with SK On supplying additional LFP cells for incorporation into battery energy storage packs designed and manufactured by NeoVolta Power and purchased by SK On.
"This partnership strengthens SK On's position in the U.S. BESS market and brings together SK On's U.S.-made LFP battery technology with NeoVolta Power's growing energy storage manufacturing capabilities," said Daejin Choi, Head of ESS Business at SK On. "We view NeoVolta Power as a strategic partner as we expand our presence in the U.S. energy storage market. By combining our respective capabilities, we will pursue new commercial opportunities and deliver competitive BESS solutions that meet evolving market needs."
Domestic Manufacturing Platform
NeoVolta Power's Pendergrass, Georgia facility is designed to manufacture BESS products for commercial, industrial and utility-scale applications. By pairing U.S.-manufactured LFP cells with U.S.-based battery BESS manufacturing, the Company believes its platform is positioned to serve customers seeking reliable and domestic content BESS solutions.
The Company's initial Pendergrass production line remains on track to advance through commissioning and production-ramp activities. The multi-year strategic collaboration with SK On is expected to accelerate NeoVolta Power's expansion from its initial Pendergrass production line to a two-line manufacturing platform targeting up to 8 GWh of annual BESS production capacity in 2028.
About NeoVolta
NeoVolta is an innovator in energy storage solutions dedicated to advancing reliable, high-performance power infrastructure for residential, commercial, and utility applications. With a focus on scalable technology, domestic manufacturing, and strategic partnerships, NeoVolta is positioned to support the accelerating transition toward resilient energy systems.
For more information, visit www.neovolta.com.
About SK On
SK On is a global leading battery & trading company committed to technological innovation for a better, sustainable future.
SK On aims to accelerate the green energy transition by leveraging its global production base and R&D capabilities, as well as its manufacturing and quality management know-how.
Headquartered in Seoul, South Korea, SK On has a worldwide presence with battery plants currently operating or in construction across the United States, Europe, and Asia.
For more information, visit: http://eng.sk-on.com/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable federal securities laws. Forward-looking statements include, among other things, statements regarding anticipated battery-cell supply, future battery-pack purchases, the implementation of future order documents, production and delivery schedules, future manufacturing capacity, the potential establishment and timing of additional production lines, domestic-content and supply-chain characteristics, the availability or applicability of tax incentives and credits, customer demand, market opportunities, and the anticipated benefits and future opportunities associated with the relationship between NeoVolta Power and SK On.
Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others, risks related to the parties' ability to finalize and implement future order documents and commercial terms; satisfy technical and product-specification requirements; execute production ramps; obtain financing; source materials; meet regulatory or tax-credit requirements; respond to changes in tariffs or raw-material prices; and other risks described in NeoVolta's filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. NeoVolta undertakes no obligation to update these statements except as required by law.
Contacts
NEOV Investors
Bryan Baritot
Alliance Advisors IR
ir@neovolta.com
NEOV Media
Email: press@neovolta.com
Phone: 800-364-5464
