SK takes over Atom Power, US energy solution startup for $150 million

SK takes over Atom Power, US energy solution startup for $150 million

Group reportedly bought a controlling stake in , an solutions company from the United States for 150 million US dollars. The purchase of the shares was made by the company to make further inroads into digital power distribution and , Yonhap reported.

SK Inc. and SK Energy Co. will jointly acquire a major stake in North Carolina-based Atom Power. Atom Power is well-known as a provider of smart power control and electric vehicle charging solutions

Atom Power develops digital circuit breakers that enable more effective and sophisticated control and adjustment of electrical , such as commercial and residential power systems.

The circuit breaker system can also be used in electric vehicle chargers in a much more compact size and at a lower cost because it can be made into a structure with one integrated central panel, according to SK.

SK Energy has driven expansion into platforms and other energy solutions services, including electric vehicle charging, as part of its green energy drive.

SK On raises $1.51 billion from private equity firms to expand EV batteries production abroad