Lyten to Acquire Bankrupt Northvolt’s Assets in Europe

US-based battery startup Lyten has signed a binding agreement to acquire all remaining assets of bankrupt Swedish battery manufacturer Northvolt in Sweden and Germany, including production facilities, research labs, expansion projects, and all remaining intellectual property.

The acquisition covers Northvolt Ett and Ett Expansion in Skellefteå, Northvolt Labs in Västerås, and Northvolt Drei in Heide, Germany. Lyten will also take over the company’s patents and proprietary technology. The transaction follows Lyten’s earlier purchases of other Northvolt assets, including its California Cuberg plant, the Dwa battery energy storage system (BESS) manufacturing site in Poland and Northvolt’s BESS product and IP portfolio.

Northvolt filed for bankruptcy in March 2025, ceasing production in June after failing to secure a buyer in time. The company had accumulated around US$8 billion in debt, with major unsecured creditors including Goldman Sachs and Volkswagen, whose brands Scania, Porsche and Audi had been Northvolt customers. Bankruptcy trustee Mikael Kubu said many creditors would face significant losses.

Matthias Arleth, Northvolt’s former Chief Operations Officer, told Reuters the company had been producing up to 30,000 high-quality battery cells per week at the Skellefteå plant before operations halted. “The quality of the cells was in the 90% yield range,” Arleth said, adding that this output had been a decisive factor in the sale.

“Lyten’s acquisition of the Northvolt 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 to meet energy independence, national security, and AI data center needs,” says Dan Cook, CEO, Lyten.

Lyten plans to restart operations in Skellefteå and Västerås immediately after the deal closes. The company is also working with the German government to advance plans for a 15 GWh battery manufacturing facility in Heide and is pursuing the acquisition of Northvolt Six in Quebec, Canada, which is constructing a 15 GWh facility in its first phase.

The Swedish asset acquisition is expected to close by the end of October, with more time needed for international assets.