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.

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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

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