U.S. battery startup Lyten said on Thursday it would acquire all of Northvolt’s remaining assets in Sweden and Germany, marking a major expansion for the lithium-sulfur battery developer and breathing new life into some of Europe’s most advanced battery manufacturing facilities.
The deal includes three major sites: Northvolt Ett and its expansion project in Skellefteå, Northvolt Labs in Västerås, and Northvolt Drei in Heide, Germany. Together, these facilities represent over $5 billion in manufacturing assets and 16 gigawatt-hours (GWh) of existing battery capacity, with more than 15 GWh currently under construction. Lyten says the infrastructure has the potential to scale up beyond 100 GWh.
“This is a defining moment for Lyten,” CEO and co-founder Dan Cook said in a statement. “Demand for Lyten lithium-sulfur batteries is growing exponentially to meet energy independence, national security, and AI data center needs.”
The California-based company, backed by Stellantis (STLAM.MI) and FedEx (FDX.N), also gains full rights to Northvolt’s intellectual property and plans to integrate several of its executives, excluding former CEO Peter Carlsson. The acquisition follows Lyten’s earlier purchases of Northvolt’s Cuberg plant in California, its battery energy storage (BESS) facility in Poland, and its related IP and product portfolio.
Lyten intends to restart operations at the Skellefteå and Västerås facilities shortly after the deal closes, and resume production at the Poland site to meet growing global demand. The company is also in talks to acquire Northvolt Six, a 15 GWh plant under development in Quebec, and is working with Canadian authorities on the transaction.
Lyten chairman and co-founder Lars Herlitz called the acquisition a strategic move for Western battery independence. “The combination of Northvolt’s world-class manufacturing assets and low-cost clean energy, Lyten’s world-leading lithium-sulfur battery technology, and Lyten’s abundant US battery materials supply chain creates the right formula to fulfill Europe and North America’s battery manufacturing ambitions,” Herlitz said.
The transaction is being financed through private equity and is expected to close by year-end, pending regulatory approvals in Sweden and Germany.
Once hailed as the maker of “the world’s greenest battery,” Northvolt filed for bankruptcy protection in the U.S. in November 2024 and in Sweden in March 2025, marking one of the country’s largest corporate collapses.