Lyten acquires remaining Northvolt assets in Sweden and Germany

The US battery manufacturer Lyten, which specializes in lithium-sulfur technology, has announced that it will acquire all remaining assets of the Swedish battery company Northvolt in Sweden and Germany. The transaction includes production sites, research facilities and intellectual property.

Acquisition of several Northvolt sites

The acquisition specifically concerns:

• Northvolt Ett and Ett Expansion in Skellefteå, Sweden
• Northvolt Labs in Västerås, Sweden
• Northvolt Drei in Heide, Germany
• and all of Northvolt's intellectual property (IP)

Several Northvolt executives will join the Lyten team. The transaction is subject to regulatory approvals in Sweden, Germany and at European level. Financial details have not been disclosed.

Assets worth around five billion US dollars

The acquired assets were previously valued at around 5 billion US dollars. They include:

• 16 GWh of existing production capacity
• over 15 GWh of additional capacity under construction
• Planning capacity for more than 100 GWh
• and Europe's currently largest research and development center in the field of battery technology (in Västerås)

Production restart and reactivation of jobs

Lyten plans to restart operations in Skellefteå and Västerås immediately after completion of the transaction. In addition, large parts of the previously dismissed workforce are to be rehired. The sites are to be expanded and further developed in the long term.

The Swedish government expressly welcomes the move.

Lyten's acquisition of the Northvolt assets is a win for Sweden, for the former employees and for Sweden's position as a key player in European energy sovereignty.

Ebba Busch, Deputy Prime Minister of Sweden

Further expansion plans

Lyten is currently working with the German government and regional authorities to continue the Northvolt Three project in Heide (Schleswig-Holstein). The production site planned there is to start with 15 GWh. The company has also expressed interest in acquiring Northvolt Six in Québec, Canada. A battery factory with a planned initial capacity of 15 GWh is currently being built there.

Lyten had previously acquired parts of Northvolt:

• Cuberg plant in California (November 2024)
• Northvolt Dwa, Europe's largest BESS plant in Gdansk, Poland (July 2025, completion expected in August)
• Northvolt's BESS product portfolio and IP (end of July 2025)

Lyten's lithium-sulphur-based batteries are currently used commercially in the drone and defense industries. A mission to the International Space Station (ISS) is planned for the end of 2025

Financing through equity

The acquisition is fully financed by equity investments from private investors. According to the company, Lyten currently has a multi-year order pipeline in the billions in the field of stationary energy storage systems (BESS). Further details will be announced at a joint press conference in Sweden on Friday.

Founded in 2015, Lyten develops materials based on 3D graphene for applications in the energy and mobility industries. Headquartered in San Jose, California, the company is primarily involved in the development of lithium-sulphur batteries. The European headquarters are located in Luxembourg.