Lyten, a manufacturer of lithium-sulfur batteries, has entered into binding agreements to acquire Northvolt Ett and Ett Expansion, Northvolt Labs, Northvolt Drei, and all other intellectual property belonging to Northvolt in Sweden and Germany. In early July, Lyten announced the acquisition of part of Northvolt's assets in Gdańsk.
Financial terms of the agreement were not disclosed. Lyten expects the transaction to close in the fourth quarter of 2025.
The acquired assets are worth approximately $5 billion in total and include 16 GWh of existing production capacity, over 15 GWh under construction, infrastructure and expansion plans to over 100 GWh, as well as a battery R&D center in Europe (Västeras).
In early July 2025, Lyten announced the acquisition of Northvolt Dwa, Europe's largest battery energy storage system (BESS) production facility, located in Gdańsk. Completion is scheduled for August 2025.
“Demand for batteries manufactured in Europe and North America is steadily growing,” Lars Herlitz, chairman of the supervisory board and co-founder of Lyten, said in a press release. CEO and co-founder Dan Cook says the acquisition of the assets in Sweden and Germany is a landmark for Lyten.
Lyten currently manufactures lithium-sulfur batteries in Silicon Valley and sells them in the rapidly growing drone and defense markets. The company is also preparing to deploy its lithium-sulfur batteries on board the International Space Station (ISS) in the coming months. It also has a multibillion-dollar pipeline of projects for BESS systems based on this technology.
Lyten, founded in 2015, is a company developing applications for so-called supermaterials. It has raised over $625 million in capital investments and secured letters of intent for $650 million in financing from Export-Import Bank USA. (PAP Biznes)
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