Lyten Acquisition of Northvolt Assets
Lyten Acquisition of Northvolt Assets
Lyten Expands Global Footprint With Acquisition of Northvolt’s Assets Sweden, Poland, and Germany
Lyten has entered into a binding agreement to acquire all remaining Northvolt assets in Sweden, Germany, and Poland (as previously announced), along with all remaining Northvolt intellectual property. This acquisition is a major step toward Lyten’s mission to be the leading supplier of locally sourced and locally manufactured batteries in both North America and Europe.
The assets being acquired include:
- 16 GWh of operational battery manufacturing capacity
- 15 GWh of capacity under construction
- Infrastructure to scale to more than 100 GWh over time
- Europe’s largest and most advanced battery R&D facility
- Europe’s largest and most advanced BESS manufacturing facility (6 GWh)
- All remaining Northvolt IP
- Negotiated long-term, low-cost clean energy agreements in each gigafactory location
Lyten intends to restart operations in all facilities utilizing Northvolt’s existing lithium-ion NMC technology and plans to add Lyten’s lithium-sulfur batteries to the product portfolio in each location over time.
The Trustee, Lyten, and Northvolt hosted a press conference in Skellefteå on Friday, August 8 to share more information about the transaction. A recording of the press conference can be found at https://www.youtube.com/live/YD7Amj0Ifp0.
Why Lyten Made the Acquisition
Lyten’s mission is to be the leading supplier of clean, locally sourced, and locally manufactured batteries and energy systems in North America and Europe. Simply put, this acquisition accelerates that mission by delivering immediate scale, restart-ready manufacturing in Europe, access to abundant clean energy, and a clear path to over 100 GWh of production capacity across two continents.
Beyond production, this acquisition gives Lyten access the immensely talented and ambitious personnel that built Northvolt and their state-of-the-art lithium-ion battery technology and battery energy storage systems (BESS). We plan to welcome this talent pool into the Lyten family as we build a globally leading battery research and development footprint working between Silicon Valley and Vasteras, Sweden.
Lyten can now meet customers’ needs at scale, right now, with lithium-ion batteries and BESS products and help customers transition to next generation lithium-sulfur over time.
The demand for batteries and energy storage is growing exponentially. The ability to store clean electricity is critical to energy security, national security, and the competitiveness of companies. We made this acquisition to better be able to meet North America and Europe’s demand for locally sourced and locally manufactured batteries.
The Benefits of Lithium-Sulfur batteries:
- World leading energy density
- Eliminate >85% of the mined minerals
- Entirely sourceable in the US and EU
- Built with low cost industrial by-products
- Same manufacturing equipment as lithium-ion
What We Acquired
Lyten is acquiring the assets listed below, as well as Northvolt’s product portfolio of lithium-ion NMC batteries and battery energy storage systems (BESS). This includes Northvolt’s remaining intellectual property, including designs, manufacturing processes, system integration software, and future product roadmaps.
Acquired Global Facilities
We’ve expanded our operational footprint with multiple world-class facilities across the U.S. and Europe:
Skellefteå, Sweden: Northvolt Ett + Ett Expansion
16 GWh of operational lithium-ion cell production capacity, with expansion plans underway. This is one of Europe’s most advanced battery production sites and is entirely powered by carbon free hydro power.
Västerås, Sweden Northvolt R&D Labs
The top battery innovation and R&D center in Europe. Home to advanced prototyping, pilot lines, and next-gen development.
Heide, Germany: Northvolt Drei
A major gigafactory under development for battery production. 15 GWh are currently under construction with plans to scale to >30 GWh. The site is powered by wind energy.
Gdańsk, Poland: Dwa Battery Energy Storage System (BESS) Manufacturing Facility
One of the largest BESS manufacturing sites in Europe. The purchase also includes key product rights and development teams for Northvolt’s BESS portfolio. Lyten intends to restart operations immediately, with production capacity of about 6 GWh annually, expandable up to 10 GWh. Deliveries are expected to begin in Q4 2025.
San Leandro, California: Lithium Metal Battery Facility (formerly Cuberg)
R&D and prototyping site for lithium-metal and lithium-ion cell development. Adds deep technical talent and lithium-metal expertise to Lyten’s innovation team.
About Lyten
Lyten, founded in 2015, is a supermaterial applications company that has received more than $625 million in equity investment and secured LOIs for $650M in financing from the Export Import Bank of the US. Lyten has built a proprietary materials platform, called Lyten 3D Graphene™, that it uses to build better performing, lower cost, and decarbonizing products, including its next generation lithium-sulfur battery. Lyten corporate headquarters is in San Jose, CA and European headquarters is in Luxembourg.
The company lists more than 540 patents granted or pending and is currently manufacturing in San Jose, CA. In November 2024, Lyten announced the acquisition of Northvolt’s battery manufacturing plant in San Leandro, California to scale production to meet the demand for American made batteries. In 2024, Lyten announced its integration into Chrysler’s Halcyon Concept electric vehicle and the selection of Lyten Lithium-Sulfur for demonstration on-orbit aboard the International Space Station (ISS), scheduled for launch later in 2025. Lyten is selling lithium-sulfur commercially into the rapidly growing drone and defense market.
Lyten was named Fast Company’s #8 Most Innovative Energy Company and named one of America’s Top Green Technology Companies by Time in 2024, 2025, and been named to Silicon Valley Defense Journal’s Top 100 National Security Companies from 2023 – 2025.
Dan Cook
Lyten CEO and Co-Founder
“This is a defining moment for Lyten,” stated Dan Cook, Lyten CEO and Co-Founder. “Lyten’s mission is to be the leading supplier of clean, locally sourced and manufactured batteries and energy storage systems in both North America and Europe. The acquisition of Northvolt’s assets brings the facilities and Swedish talent to accelerate this mission by years, just at the moment when demand for Lyten lithium-sulfur batteries is growing exponentially to meet energy independence, national security, and AI data center needs.”
Lars Herlitz
Lyten Chairman and Co-Founder
“The demand for European and North American made batteries is only growing,” added Lars Herlitz, Lyten Chairman and Co-Founder. “The combination of Northvolt’s world-class manufacturing assets and low-cost clean energy, Lyten’s world leading lithium-sulfur battery technology, and Lyten’s abundant U.S. battery materials supply chain creates the right formula to fulfill Europe and North America’s battery manufacturing ambitions.”
“The demand for European and North American made batteries is only growing,” added Lars Herlitz, Lyten Chairman and Co-Founder. “The combination of Northvolt’s world-class manufacturing assets and low-cost clean energy, Lyten’s world leading lithium-sulfur battery technology, and Lyten’s abundant U.S. battery materials supply chain creates the right formula to fulfill Europe and North America’s battery manufacturing ambitions.”
Lars Herlitz
Lyten Chairman and Co-Founder
FAQs:
1. What is Lyten’s plan for jobs and headcount in Sweden and internationally?
Lyten is working through the transition with Northvolt to develop restart plans in Skellefteå, Västerås, Gdansk and the facilities under construction. We are starting selective rehiring to support restart and building plans to hire employees based on our scale-up timelines. These timelines are under development. We see strong value in retaining local talent and rehiring expertise with experience in the facilities. Further communication about rehiring opportunities will be made available at a later date.
2. When will Lyten restart operations at the acquired sites, and at what production levels?
We plan to start taking the steps necessary to restart operations at Skellefteå, Västerås, and Gdansk upon close of the transaction. Ramp-up timelines and volumes are currently being assessed, and we will ramp up consistent with product demand.
In Germany, we are actively working with Northvolt, federal, and local stakeholders to restart construction activities upon close of the transaction. Detailed timelines are being evaluated.
3. When is the acquisition expected to close?
The acquisition of Northvolt’s BESS products and IP associated with BESS products closed in early August. The acquisition of Northvolt Dwa in Poland is expected to close in the Q3 2025. The acquisition of Sweden assets is expected to close in early 4Q and Germany assets will follow after that. All closes are pending final regulatory approvals and local legal procedures in each region.
4. What will happen to Northvolt’s previous customer relationships and partnerships?
Due to the bankruptcy, Northvolt’s contracts with customers and partners are no longer in place. That said, we continue to see strong demand from previous and new customers for Northvolt and Lyten products and see strong support from the partner/supplier community to participate in the restart and scale-up of operations. Lyten is actively working in partnership with the Northvolt team to reestablish relationships and contracts.
If you are a former or new customer, partner, or supplier that is interested in working with Lyten, please reach out and Contact Us.
5. What products will Lyten produce at the Northvolt assets?
Lyten will restart production of the products previously being developed and manufactured at Northvolt. This includes manufacturing of lithium-ion NMC batteries in Skellefteå and battery energy storage systems (BESS) at Northvolt Dwa in Gdansk.
Over time, Lyten will introduce lithium-sulfur battery manufacturing into the Northvolt facilities as part of a dual battery chemistry strategy. This process is already started at the previously acquired Northvolt Cuberg facility, which will exclusively produce lithium-sulfur batteries. Entry of lithium-sulfur into additional facilities will happen over time to meet customer demand.
6. What customer markets does Lyten intend to service from the Northvolt facilities?
Lyten strongly believes building a robust energy company requires building products that meet the needs of a diverse set of customers across a diverse set of regions.
In Skellefteå, Lyten will primarily focus battery production on the automotive, mobility, and BESS markets. Each of these represent large, global, rapidly growing markets where Lyten’s products are uniquely positioned to meet customer demand. Additionally, Lyten is already active in the Drone, Defense, and Space markets in the US and expects growth in those markets in Europe as well.
7. When can we expect further updates about Lyten’s acquisition of Northvolt?
We will continue to provide updates on this page as new information is ready to announce. If you have further questions, feel free to contact the names provides below or reach out and Contact Us.
8. How will the acquisition, ramp up and production start be financed?
Lyten has been funded by a large network of private investors and continues to raise additional capital from the private markets to fund each stage of the transaction. Lyten is confident in securing the proper mix of equity and debt financing to support our desired ramp up rate, which will be driven by customer demand.
9. Who are the owners of Lyten?
Lyten is a privately held company. No single external investors currently hold >5% ownership of the company. Large investors include, in no particular order, Stellantis, FedEx, Nokia, Prime Movers Lab, Honeywell, Walbridge, the Luxembourg Future Fund, and the European Investment Fund.
10. Who is the leadership of Lyten?
Please go to Lyten Leadership on the About page to see details of Lyten’s leadership team.
Contacts
Media Contact, US, International:
Bob Zeitlinger
bzeitlinger@makovsky.com
Media Contact, Sweden:
Anders Fogel
anders.fogel@fogelpartners.se
Media Contacts, Poland:
Ola Pawlowska
a.olekpawlowska@pov.pl