U.S. battery company Lyten to acquire Swedish counterpart Northvolt - U.S-based battery firm Lyten set to acquire Northvolt, a Swedish battery manufacturer.
In a significant move for Europe's battery sector, US-based company Lyten has announced its intention to acquire the remaining assets of insolvent Swedish battery manufacturer Northvolt. The acquisition includes Northvolt's sites in Sweden and Germany, including the under-construction facility in Heide, Schleswig-Holstein, Germany.
The announcement was made in the afternoon by Lyten, and it covers Northvolt Ett and Ett Expansion in Skellefteå, Northvolt Labs in Västerås, and all remaining Northvolt intellectual property. The portfolio, previously valued at approximately $5 billion, includes 16 GWh of operational battery production capacity plus more than 15 GWh under construction.
The Heide facility, known as Northvolt Drei, forms part of the acquisition and contributes to the total capacity and expansion plans under Lyten's control. The site is integrated into Lyten's portfolio alongside the Swedish sites, strengthening Lyten's manufacturing and R&D base in Europe.
Upon closing, Lyten plans to restart operations at Northvolt Ett and Northvolt Labs immediately, prioritizing the rehiring of former Northvolt employees. Several members of Northvolt’s executive team are expected to join Lyten as well. Financial terms were not disclosed, and the deal is expected to close in Q4 2025.
This acquisition gives Lyten control of Northvolt’s significant manufacturing and IP assets in Europe, positioning it as a leading supplier of advanced lithium-sulfur batteries with strong potential for scaling production well beyond 100 GWh from these sites. The move highlights the increasing role of US investment in Europe’s battery sector and is part of Lyten’s strategy to expand lithium-sulfur battery production in Europe to meet growing energy independence and security demands.
[1] Battery Technology [2] Electrive [3] PV Magazine [4] Energy Storage News [5] Renewables Now
- The acquisition of Northvolt by Lyten will likely drive the expansion of renewable-energy battery production in Europe's industry, strengthening Lyten's position as a leading supplier of advanced lithium-sulfur batteries.
- With the takeover of Northvolt's significant manufacturing and IP assets, Lyten is strategically positioning itself to finance the scaling of energy storage in Europe, aiding Europe's energy independence and security goals.
