Li-sulfur battery company Lyten to acquire all remaining Northvolt assets in Sweden and Germany
08 August 2025
Lithium-sulfur battery company Lyten has entered into binding agreements 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).
Additionally, Lyten is 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 by any parties.
In total, Lyten’s acquisition includes assets valued at approximately $5 billion, including 16 GWh of existing battery manufacturing capacity, more than 15 GWh of capacity under construction, the infrastructure and plans to scale to more than 100 GWh, and the largest and most advanced battery R&D center (Västerås) in Europe.
Lyten has expressed interest in additionally acquiring Northvolt Six in Québec, Canada. Lyten plans to restart operations at Northvolt Ett and Northvolt Labs upon close of the transaction, which is being fully funded with equity investment.
The transactions are subject to appropriate Swedish and German governmental and European agency approvals. Lyten expects the acquisitions to close in the fourth quarter of this year.
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, Lyten announced the acquisition of Northvolt Dwa, Europe’s largest Battery Energy Storage System (BESS) manufacturing facility, located in Gdansk, Poland. The acquisition is expected to close in August 2025.
- In late July, Lyten acquired Northvolt’s BESS product and IP portfolio.
Lyten plans to restart operations immediately in Skellefteå (Ett) and Västerås (Labs) upon close of the transaction and collaboration with Northvolt’s prior anchor customers is progressing constructively. Lyten plans to restart Northvolt Dwa immediately upon close of the transaction to support rapidly 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.
Lyten is also committed to pursuing the acquisition of Northvolt Six in Québec, Canada, which is constructing a 15 GWh Phase 1 battery manufacturing facility. Lyten is actively progressing discussions with Northvolt North America, the Government of Canada, the Government of Québec and other key local stakeholders.
Lyten currently manufactures lithium-sulfur batteries in Silicon Valley and is selling commercially into the rapidly growing drone and defense markets. Lyten is also preparing to launch its lithium-sulfur batteries onto the International Space Station in the coming months and has a multi-billion-dollar pipeline for BESS powered by lithium-sulfur.
Posted on 08 August 2025 in Batteries, Li-Sulfur, Manufacturing, Market Background
greencarcongress.com |
