Deals Counterparts

SK Eternix Invests in Next-Generation Battery Storage Technology Startup

Investment Battery Storage announced South Korea Mar 1, 2025
USD60.1M
Deal Value
100 MW
Capacity
construction
Stage

SK Eternix invested $10 million in Innovate Battery Solutions, a startup developing next-generation battery storage technology. The investment aims to support the development and commercialization of advanced energy storage solutions.

Source Intelligence

KEY DETAILS

SK Gas holds an 80% stake in GridFlex, with SK EterNix owning 20%. Quote: SK Gas holds an 80% stake in GridFlex, with SK EterNix owning 20%

Deal Size
SK Gas and SK EterNix , which jointly invested 87.1 billion won ($60.1 million usd) in December to establish GridFlex
Capacity
plans to construct a second 100 MW energy storage system (ESS) in southern Texas
Location
plans to construct a second 100 MW energy storage system (ESS) in southern Texas.
COD
The new facility is expected to begin operations next year
PARTIES MENTIONED IN SOURCE
S
SK Group developer

"SK Group is strengthening its foothold in the North American energy storage market with plans to construct a second 100 MW energy storage system (ESS) in southern Texas."

S
SK Gas investor

"The initiative is led by SK Gas and SK EterNix , which jointly invested 87.1 billion won ($60.1 million usd) in December to establish GridFlex"

S
SK EterNix investor

"The initiative is led by SK Gas and SK EterNix , which jointly invested 87.1 billion won ($60.1 million usd) in December to establish GridFlex"

G
GridFlex developer

"SK Gas and SK EterNix , which jointly invested 87.1 billion won ($60.1 million usd) in December to establish GridFlex , a U.S.-based corporation focused on energy storage."

A
Apex Clean Energy partner

"GridFlex has also partnered with Apex Clean Energy to form SA Grid Solutions , aiming to accelerate its presence in the sector."

S
SA Grid Solutions developer

"GridFlex has also partnered with Apex Clean Energy to form SA Grid Solutions , aiming to accelerate its presence in the sector."

S
Samsung SDI supplier

"Samsung SDI recently secured a 437.4 billion won ($302 millon) contract to supply batteries to NextEra Energy"

N
NextEra Energy buyer

"Samsung SDI recently secured a 437.4 billion won ($302 millon) contract to supply batteries to NextEra Energy"

S
Samsung C&T developer

"Samsung C&T has partnered with LS Electric to develop a 500 MW ESS project."

L
LS Electric developer

"Samsung C&T has partnered with LS Electric to develop a 500 MW ESS project."

L
LG Energy Solution manufacturer

"LG Energy Solution is set to begin mass-producing LFP batteries for ESS in Michigan later this year."

high quality Enriched Feb 19, 2026

Timeline

Announced
Mar 1, 2025
Signed
Closed

Market Context

This deal is part of the Battery Storage sector in South Korea.
24
Battery Storage deals
28
deals in South Korea
1 of 23 Battery Storage deals tracked this month · Updated daily

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