NeoVolta Shares Rise on Battery Supply Deal with SK Innovation
Dow Jones2026/08/31 12:43By Katherine Hamilton
Shares of NeoVolta were higher after the company entered a five-year supply and manufacturing partnership with SK Innovation.
The stock rose 12% to $3.75 in premarket trading Monday. Through the previous close, shares were up 1.5% this year.
SK On, a South Korean manufacturer, will supply nine gigawatt-hours of lithium iron phosphate battery cells to NeoVolta from 2027 through 2031.
The agreement also establishes a framework for broader collaboration, in which SK On will supply an additional nine gigawatt-hours during the same timeframe and NeoVolta will produce energy storage packs for purchase by SK On.
The partnership supports NeoVolta's evaluation of additional production capacity at Pendergrass, a Georgia facility designed to make battery energy storage systems. The capacity could include a second production line designed around pouch-format lithium iron phosphate cells.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
August 31, 2026 08:43 ET (12:43 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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