Innovation in energy storage: SK On launches vanadium-ion technology development
SK On and SK Innovation have formed a strategic partnership with Standard Energy: together they will develop high-safety vanadium-ion batteries using a water-based electrolyte for energy storage systems.
Budapest, 2 March 2026 — Responding to the growing industrial demand for safety and high performance,SK OnandSK Innovationhave formed a strategic partnership with the company engaged in vanadium-ion technology development,Standard Energy. The collaboration aims to diversify the SK group’s energy storage system (ESS) portfolio and serve specialised application areas.
Strategic partnership with Standard Energy
SK On and its parent company SK Innovation are expanding their energy storage business by partnering with Standard Energy, a company specialising in vanadium-ion batteries. The move aims to respond to growing demand for safer, fire-resistant energy storage solutions with a portfolio that goes beyond lithium-based batteries.
The three companies recently signed a cooperation agreement at Standard Energy’s headquarters in Daejeon, under which they will jointly develop high-safety, high-performance vanadium-ion batteries for energy storage systems, expanding the SK group’s ESS portfolio.
Water-based electrolyte, fire- and explosion-free operation
Energy storage systems are widely used in data centres and industrial facilities, where consistent high-performance operation and safety are critical. Unlike conventional lithium-ion batteries, vanadium-ion batteries use a water-based electrolyte that eliminates the risk of fire and explosion and delivers excellent performance for short-duration use — which is especially important for data centres.
Executive comments
“Through this collaboration we will jointly develop vanadium-ion batteries with outstanding fire safety for energy storage systems (ESS), further strengthening our product portfolio. Building on our world-class technological competitiveness, we are creating new value for our customers.”
— Lee Seok-hee, CEO of SK On
“The properties of vanadium-ion technology complement lithium-ion batteries excellently. Working together with SK On and SK Innovation, our goal is to accelerate its market introduction and create a new ESS standard that can be applied safely and reliably in environments — such as data centres, indoor and urban areas — where both safety and performance are critical.”
— Kim Bu-gi, CEO of Standard Energy
SK On is among the world’s leading battery and trading companies and is committed to technological innovation for a better, sustainable future. The company became independent in October 2021, after South Korea’s largest energy company, SK Innovation, spun off its battery business. Headquartered in Seoul, South Korea, its battery plants are already operating or under construction in the United States, Europe and Asia. More information: eng.sk-on.com
