Lyten Buys Northvolt Sites in $5B European Push

Lyten, a California-based lithium-sulfur specialist, has struck its largest deal yet: the takeover of Northvolt’s European operations. The package comprises the Ett gigafactory and Northvolt Labs in Sweden, the under-construction Drei site in Germany, and the entire patent trove. The buyer pegs total asset value near $5 billion, covering 16 GWh of active lines and infrastructure designed to exceed 100 GWh. Funding is all-equity, bolstered by a $200 million raise announced in July.

Lyten intends to power up Swedish lines immediately post-closing and continue talks with legacy customers. Management claims the move fast-tracks its mission as demand for lighter, safer batteries surges in defense and data-center markets. Observers caution that rebooting shuttered plants, rehiring talent, and locking in new supply contracts will test the firm’s balance sheet and credibility.

The transaction follows earlier Northvolt pickups by Lyten in Poland and California after the Swedish champion’s March bankruptcy, an event that dented Europe’s push for battery sovereignty.

Source: https://www.fastmarkets.com/insights/lithium-battery-maker-lyten-buys-further-northvolt-assets-in-europe/