US EditionUS Startup Lyten to Buy Bankrupt European Battery Maker Northvolt
SWEDEN AND GERMANY, AUG 7 – Lyten is acquiring over $5 billion in Northvolt assets to restart European battery production and expand lithium-sulfur capacity amid rising demand for energy and defense applications.
- Lyten, a California-based lithium-sulfur battery maker, announced the acquisition of bankrupt Swedish company Northvolt's remaining assets today, including major facilities in Sweden and Germany.
- Northvolt entered bankruptcy proceedings in March 2025 following difficulties in increasing production capacity at its main facility located in northern Sweden, having been under Chapter 11 protection since late 2024.
- The deal includes over $5 billion in manufacturing assets, 16 GWh of existing battery capacity, 15+ GWh under construction, Poland’s largest energy storage business, and all intellectual property.
- Lyten has secured more than $625 million in funding from backers such as Stellantis, FedEx, and the U.S. government, with CEO Dan Cook describing the acquisition as a pivotal milestone for the company.
- Lyten plans to restart Northvolt’s plants quickly and resume lithium-ion deliveries by 2026, aiming to support energy independence and meet growing demand in automotive and defense sectors.
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The insolvent Swedish battery manufacturer changes ownership. Assets are estimated at five billion dollars, also affected Germany
U.S. Startup Scoops Up Bankrupt Northvolt’s $5B European Gigafactory Assets
California-based Lyten has signed a binding agreement to acquire nearly all remaining assets of failed European battery firm Northvolt, including its Swedish and German gigafactories and all remaining intellectual property. In the deal, announced on Thursday, the company confirmed it would take over Northvolt Ett, Northvolt Labs, and Northvolt Drei, including projects developed with more than $5 billion in capital investment. According to Energy…
For a long time Northvolt's business is running excellently. The battery producer is even expanding to Germany. But suddenly the Swedish company goes intosolvent and the project in Heide is on the tip. Now the rescue is announced.
US startup Lyten acquires bankrupt Swedish battery maker Northvolt to revive Europe’s EV ambitions - Tech Startups
In March, Northvolt — once a symbol of Europe’s electric car revolution — filed for bankruptcy after losing $10 billion in investment. Now, US startup Lyten is aiming to breathe life back into what was once Europe’s boldest answer to […] The post US startup Lyten acquires bankrupt Swedish battery maker Northvolt to revive Europe’s EV ambitions first appeared on Tech Startups.
Northvolt assets in Sweden, Germany sold to a U.S. company
Northvolt’s assets in Sweden and Germany have been sold to Lyten, a U.S. company. Regarding North America, Lyten has reportedly “expressed a clear interest,” but nothing has been announced yet. The transaction, announced Thursday, includes the Northvolt Ett, Ett Expansion, and Northvolt Labs facilities in Sweden, as well as Northvolt Drei in Germany. The value […]
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