PRESS RELEASE: Lyten to Acquire All Remaining Northvolt Assets in Sweden and Germany
San Jose, CA, Stockholm, SWEDEN & Heide, GERMANY – August 7, 2025 – ( BUSINESS WIRE) – Lyten, the global leader in lithium-sulfur batteries, announced today 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). 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.
“This is a defining moment for Lyten,” stated Dan Cook, Lyten CEO and Co-Founder. “Lyten’s mission is to be the leading supplier of clean, locally sourced and manufactured batteries and energy storage systems in both North America and Europe. The acquisition of Northvolt’s assets brings the facilities and Swedish talent to accelerate this mission by years, just at the moment when demand for Lyten lithium-sulfur batteries is growing exponentially to meet energy independence, national security, and AI data center needs.”
In total, Lyten’s acquisition includes assets valued at approximately $5B, including 16 GWh of existing battery manufacturing capacity, more than15 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.
