US energy storage and battery technology startup Lyten has completed its acquisition of Northvolt’s business operations in Sweden and announced its immediate plans.
Lyten, which develops a novel lithium-sulfur battery technology alongside integrating lithium-ion (Li-ion) battery energy storage systems (BESS), said this morning that operations are resuming at the Northvolt Ett battery plant in Skellefteå, northern Sweden, following the completion of the deal.
Northvolt, once seen as Europe’s brightest hope for a homegrown battery company making everything from cells to complete systems, went out of business in late 2024.
New owner Lyten began its takeover of Northvolt’s assets and IP in mid-2025, valuing Northvolt’s total manufacturing assets at around US$5 billion, including 16GWh of battery production capacity and over 160 hectares of land.
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It already bought the Northvolt Dwa BESS production facility in Poland last year and today claimed that lithium-ion nickel manganese cobalt (NMC) cells from Northvolt Ett will be supplied on a commercial basis to Northvolt Dwa for use in BESS solutions from the second half of this year.
At the same time, the other part of Northvolt Sweden, its R&D laboratories in Västerås, around 100km from the national capital, Stockholm, will continue developing NMC cells and collaborate with Lyten’s in-house team in Silicon Valley on scaling up the US startup’s lithium-sulfur battery tech.
Lyten said that over the next 12 months, based on customer demand, it could hire over 600 additional employees through a rehiring programme launching after working with local unions in Västerås and Skellefteå.
Data centre and hydroelectricity-supplied industrial hub
Lyten also said today that it plans for the Skelleftea site to host a new industrial hub, including co-located AI data centres and other complementary industrial operations that are of strategic importance to Sweden and the European Union (EU).
The company’s battery storage will play a role in the hub’s infrastructure, while it will leverage access to nearby hydroelectric power generation capacity.
Data centre developer EdgeConneX intends to acquire a data centre site at the Lyten Industrial Hub development, which has the potential to scale to a 1GW campus, Lyten claimed.
Lyten is now looking to close the acquisition of Northvolt’s operations in Germany, too, funding the acquisitions through equity investments and EdgeConneX’s capital investment in the giga-scale data centre campus.
The various reasons and driving factors behind Northvolt’s rapid rise and equally rapid unfortunate fall have been widely reported by sites including Energy-Storage.news, from a perception that the company tried to do too many things at once, to a slowdown in demand growth in the electric vehicle (EV) market it was primarily focused on, to strong competition from Chinese manufacturers and finally, simply the difficulty of getting a cell manufacturing operation off the ground from scratch.
Below is a timeline of some of the (very) extensive coverage of the fall of Northvolt and Lyten’s acquisition, as reported by this site since September 2024:
