The contract, signed Monday, stretches a partnership long anchored in high-nickel nickel-cobalt-manganese (NCM) cathodes into LFP, a cheaper chemistry favored for energy storage systems (ESS).
The amount equals about 48 percent of L&F's 2025 revenue and covers only minimum committed volumes, according to a regulatory filing.
"The trust we have built with LG Energy Solution in NCM cathodes now extends to LFP," said Lee Byung-hee, L&F's chief operating officer.
Lee said the company would draw on its non-Chinese LFP supply chain to strengthen its footing in North America.
The deal rounds out L&F's sweep of South Korea's three major battery makers.
It signed an LFP supply contract worth about 1.6 trillion won with Samsung SDI in March and a deal worth about 161.7 billion won with SK On in September.
L&F said supply chains outside China have grown in importance as artificial intelligence data centers lift demand for energy storage and the United States tightens rules on prohibited foreign entities.
The firm said it would build new capacity to fill the order.
Its LFP subsidiary, L&F Plus, began mass production in late September with annual capacity of 30,000 tons and plans to double that to 60,000 tons by the first half of 2027.
AJP Takeaways
- L&F signed a deal on Nov. 2, 2026 to supply about 1.035 trillion won ($774 million) of LFP cathode materials to LG Energy Solution's plants in Korea and abroad from 2028 to 2031.
- The contract is worth about 48 percent of L&F's 2025 consolidated revenue of 2.155 trillion won and is based on minimum committed volumes at recent prices.
- LG Energy Solution joins Samsung SDI and SK On as L&F's LFP customers. L&F Plus plans to raise annual LFP capacity from 30,000 tons to 60,000 tons by the first half of 2027.
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