Lyten has announced that it has entered into a binding agreement to acquire Northvolt’s remaining assets in Sweden and Germany. The acquisition includes Northvolt Ett and Ett Expansion (Skellefteå, Sweden), Northvolt Labs (Västerås, Sweden), and Northvolt Drei (Heide, Germany). Lyten is also acquiring all remaining Northvolt intellectual property (IP), and multiple members of the current Northvolt executive team plan to join Lyten. The financial terms of the agreement were not disclosed.
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In total, Lyten’s acquisition includes assets built with more than $5 billion in invested capital, resulting in 16 GWh of existing battery manufacturing capacity, over 15 GWh under construction, infrastructure and plans to scale to more than 100 GWh, and Europe’s largest and most advanced battery R&D center (Västerås).
Equity investment from private investors
Lyten plans to rehire a significant portion of the previously laid-off workforce at these facilities and will assess staffing needs site by site. The company sees substantial value in retaining local expertise and is committed to building long-term employment opportunities as it restarts and scales operations.
Ebba Busch, Deputy Prime Minister of Sweden, said: “Lyten’s acquisition of the Northvolt assets is a win for Sweden, for the former employees of Northvolt, and for positioning Sweden as key to Europe’s energy independence. We have been working closely with the Trustee and Lyten to fully support this deal and we are excited to work with Lyten moving forward to make good on the immense potential of these assets.”
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The acquisition is being fully funded through equity investment from private investors. Lyten is working through the required legal and regulatory approvals in Sweden and Germany and expects the transactions to close in the fourth quarter of this year.
Northvolt sites and assets already acquired
Lyten has previously announced the acquisition of three other Northvolt assets:
– In November 2024, Lyten acquired Northvolt’s Cuberg battery manufacturing facility in California.
– In early July 2025, Lyten announced the acquisition of Northvolt Dwa, Europe’s largest Battery Energy Storage System (BESS) manufacturing facility, located in Gdansk, Poland. The transaction is expected to close in August 2025.
– In late July 2025, Lyten acquired Northvolt’s BESS product and IP portfolio.
Plans for starting production
Lyten plans to immediately restart operations in Skellefteå (Ett) and Västerås (Labs) once the transaction closes, with constructive progress in collaboration with Northvolt’s prior anchor customers. The company also plans to restart Northvolt Dwa upon close to support growing demand for Lyten BESS in more than 20 countries.
At Northvolt Drei, Lyten is working with Northvolt and the German government to continue the program to establish a battery manufacturing facility near Heide in Schleswig-Holstein, with 15 GWh of initial capacity.
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Lyten is also pursuing the acquisition of Northvolt Six in Quebec, Canada, which is constructing a 15 GWh Phase 1 battery manufacturing facility. The company is in active discussions with Northvolt North America, the Government of Canada, the Government of Québec, and other key stakeholders.
Lyten currently manufactures lithium-sulfur batteries on a pilot line in Silicon Valley and sells commercially into the drone and defense markets. It plans to launch its lithium-sulfur batteries to the International Space Station in the coming months and reports a multi-billion-dollar pipeline for lithium-sulfur-powered BESS. The startup was founded in 2015. (hcn)
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