Financial investments totaling over $200 million secured for furthering the acquisition approach at Lyten
Lyten, a leading player in the lithium-sulfur battery and Battery Energy Storage System (BESS) market, has made significant strides in its expansion plans with a series of acquisitions from Northvolt. These acquisitions, financed by a $200 million equity investment, are set to boost Lyten's production capacity and strengthen its presence in the US, Europe, and global markets.
Equity Investment and Acquisitions
Lyten has raised $200 million in equity funding to finance its acquisition strategy of Northvolt’s battery assets. Key acquisitions include Northvolt’s remaining assets in Sweden and Germany, such as the Northvolt Ett gigafactory in Skellefteå, Sweden, Northvolt Labs R&D facilities in Västerås, Sweden, and Northvolt Drei gigafactory in Heide, Germany. The deal also includes all remaining Northvolt intellectual property and represents $5 billion of investment with an operational production capacity of 16 GWh, with an additional 15+ GWh under construction.
BESS Product Portfolio
In addition, Lyten has acquired Northvolt’s BESS product and intellectual property portfolio, which includes products like Voltpack Mobile Systems (VMS) and Voltrack, as well as future BESS products currently in development.
Production and Market Plans
Lyten aims to restart operations immediately at Northvolt Ett and Labs post-acquisition, accelerating lithium-sulfur battery production to meet the rapidly growing demand driven by energy independence, national security, and AI data center needs. The acquired sites have the potential to scale beyond 100 GWh of battery production capacity.
Leadership and Integration
Several key Northvolt executives are joining Lyten, facilitating integration and accelerated growth in these markets.
A Global Leader in Lithium-Sulfur Batteries
With these acquisitions, Lyten positions itself as a global leader in lithium-sulfur batteries and plans battery manufacturing and energy storage system deployment in North America, Europe, and global markets. The company is committed to providing non-Chinese supply chain battery solutions for various applications, including drones, defense, datacenters, and BESS.
Product deliveries are expected to commence in Q4 2025, with the closure of the Northvolt Dwa transaction and the BESS portfolio in Sweden anticipated in the third quarter of 2025.
Founded in 2015, Lyten holds over 540 patents related to its proprietary 3D Graphene material. This is Lyten's third acquisition from Northvolt since November 2024.
The investment community has shown immediate demand for Lyten's battery products in support of energy independence and national security initiatives in the US and Europe. Notable investors in Lyten include David Ku, a former Microsoft Corporate Vice President of AI and CTO of the Artificial Intelligence + Research division, who has emphasized the importance of Lyten’s technology for AI data centers.
Dan Cook, Lyten’s CEO and Co-Founder, has stated that the received capital will be focused on rapid, capital-efficient expansion of manufacturing and onboarding world-leading talent in both the US and European markets. Zia Huque, an investor in Lyten and General Partner at Prime Movers Lab, has expressed admiration for Lyten's growth through acquisitions.
In conclusion, Lyten's recent strategic acquisitions from Northvolt are set to propel the company towards its goal of becoming a leading supplier of clean, locally manufactured lithium-sulfur batteries and energy storage systems globally.
Private equity firms, recognizing Lyten's potential as a global leader in lithium-sulfur batteries and energy storage systems, invested $200 million, financing Lyten's acquisition strategy of Northvolt's battery assets. This investment, coupled with strategic acquisitions, will bolster Lyten's presence in the US, Europe, and global markets, where it will manufacture and distribute BESS products using advanced technology.
Lyten's growth through acquisitions, particularly of Northvolt's BESS product and intellectual property portfolio, will also expand its business in the finance sector, as the company aims to provide non-Chinese supply chain battery solutions for various applications, including drones, defense, and AI data centers.
