L&F Signs KRW 161.7 Billion LFP Cathode Supply Deal with SK On

L&F signed a KRW 161.73 billion contract to supply lithium iron phosphate cathode materials to SK On and its designated affiliates. The agreement runs from September 17, 2026, through December 31, 2028, and represents 7.51% of L&F’s 2025 consolidated revenue.

L&F will supply its high-density, third-generation LFP cathode material. The company plans to begin production at an annual capacity of 30,000 tonnes by the end of the third quarter of 2026 and expand the Daegu facility to 60,000 tonnes annually in the first half of 2027.

SK On plans to use the material at its ESS-focused LFP battery lines in Seosan, South Korea, and Georgia, the United States. The company is converting 3 GWh of its 7 GWh Seosan capacity to ESS LFP production, with deliveries scheduled to begin in the first half of 2027.