SEOUL, Dec 10 (Reuters) – South Korea’s Samsung SDI said on Wednesday that its unit Samsung SDI America has signed a ‍deal to supply lithium iron phosphate (LFP) batteries to a U.S. customer for energy storage systems, triggering a sharp rally in its shares.

The contract is valued at more than 2 trillion won ($1.36 billion), it ‌said in a statement, adding that ‌deliveries will run for three years starting in 2027.

Samsung SDI did not name the customer, describing it as an energy infrastructure development and operations company.

The announcement sent Samsung SDI shares up as much as 6.1% in morning trade, versus ‍the benchmark KOSPI’s 0.1% fall.

The prismatic LFP batteries to be supplied under the deal will be manufactured by converting ‍existing production lines at Samsung SDI’s U.S.

See Full Page