U.S.-based battery producer and materials specialist Lyten has announced that it has selected Luxembourg as the location for its European headquarters. Lyten is a manufacturer of 3D graphene supermaterials used in various applications, including lithium-sulfur batteries.
The company plans to begin supplying lithium-sulfur batteries and other products to commercial customers from its San Jose, California, facility in early 2024. It is pursuing expansion plans actively in both the U.S. and Europe. The company is currently exploring the possibility of establishing research and development capabilities in Luxembourg.
Lyten recently announced a Series B financing round in which several strategic Fortune 500 investors, including Stellantis, FedEx and Honeywell, invested $200 million. This capital will be used to scale production and bring products such as lithium-sulfur batteries to market.
Luxembourg has set ambitious climate targets under Fit for 55, aiming to reduce emissions by 55 percent from 2005 levels by 2030, as required by law. This legal framework contains important milestones to achieve the goal of a climate-neutral economy in Luxembourg by 2050.