Author name: Cornelius Karow

US battery company Lyten has entered into a binding agreement to acquire the remaining Northvolt assets in Sweden and Germany. These include the Northvolt Ett and Ett Expansion plants in Skellefteå, the Northvolt Labs facility in Västerås, and the Northvolt Drei plant in Heide. In addition to the physical locations, the transaction includes Northvolt’s remaining intellectual property. Financial details have not been disclosed. However, Lyten estimates the value of the acquired assets at approximately $5 billion USD. The acquisition will be financed entirely through equity. Lyten reports that the production capacity of the acquired sites is 16 GWh, with an additional 15 GWh under construction. Once the transaction is complete, Lyten plans to resume operations in Skellefteå and Västerås as soon as possible. Most of the previously laid-off workers will be rehired. Northvolt Drei in Heide to be Completed In Heide, Lyten is working with the authorities and Northvolt to continue the program to build the battery factory. The company plans to open the plant in Schleswig-Holstein with an initial capacity of 15 GWh. Originally, Northvolt’s plans entailed a final expansion stage with a capacity of 60 gigawatt hours. The entire transaction is still subject to regulatory approvals in Sweden, Germany, and by European authorities. Completion of the deal is expected in the fourth quarter of 2025. Purchase Plans for Canada Lyten also plans to acquire the Northvolt Six site in Quebec. The plant, with a planned capacity of 15 GWh, is currently under construction. According to the company, discussions are underway with Canadian authorities and partners.  Lyten has previously acquired Northvolt facilities in Poland and the United States, including a battery energy storage system manufacturing plant in Gdańsk, Poland, and a battery production facility in California. Source:https://lyten.com/2025/08/07/lyten-to-acquire-all-remaining-northvolt-assets-in-sweden-and-germany/

US lithium-sulfur battery manufacturer Lyten has raised over US$200 million in additional equity capital. The funds will primarily finance the company’s expansion and acquisition strategy in Europe and the US. According to the company, the majority of these funds come from existing investors. Lyten reports that the total equity raised now amounts to over $625 million. As part of its expansion strategy, Lyten revealed in July it would acquire the Northvolt Dwa BESS production facility in Poland. Now, the company is acquiring Northvolt Systems’ energy storage product portfolio. This also involves integrating key members of the local development team. Last year, Lyten had already acquired Northvolt’s subsidiary Cuberg’s battery production business in California. Production in Gdańsk to Begin at End of 2025 With access to Northvolt’s products, such as Voltpack Mobile Systems and Voltrack, Lyten is expanding its range of stationary battery storage solutions. According to Lyten, the company intends to resume production in Gdansk immediately after the transaction with Northvolt Dwa is finalized. The first deliveries are scheduled for the fourth quarter of 2025. Initially, the target markets are existing customers in Europe, followed by global applications in data centers, industry, and grid operations. Source:https://lyten.com/2025/07/28/lyten-secures-more-than-200-million-in-investment-to-support-its-ongoing-acquisition-strategy/

Tesla has signed a 4.3 billion-dollar supply contract with LG Energy Solution concerning lithium iron phosphate batteries for Tesla’s stationary energy storage systems from 2027.