Lyten’s deal to acquire and recommence operations of European battery firm Northvolt out of bankruptcy has winners and losers, but some of the challenges that led to its demise have already been solved.
US-based lithium sulfur battery firm Lyten has now acquired nearly all of the assets of failed European lithium-ion battery startup Northvolt, with this deal to buy its gigafactories in Sweden and Germany and all IP.
We hear from sources about the state of health of Europe’s battery ecosystem, and how current industry incumbents are hoping to learn from the mistakes of their predecessors.
European lithium-ion OEM Northvolt has sold the division in which its ESS manufacturing plant in Poland sits, as it continues to divest non-core assets amidst its ongoing Chapter 11 bankruptcy.
Norway-based startup Elinor Batteries has launched a new product, the Orkan DC Block, which it claims will deliver 30% more energy density than existing products.
European battery company Northvolt has filed for Chapter 11 ‘reorganisation’ bankruptcy in the US, which it said will allow it to restructure its debt to continue scaling the business.
Sweden-based BESS developer Ingrid Capacity will trade its BESS projects as they start to come online, CEO Axel Holmberg said, while also discussing the CEE market and fellow Swede Northvolt’s current challenges.
Sweden-headquartered lithium-ion technology Northvolt has concluded its strategic review, revealing it is divesting or ceasing non-core activities, sharpening its focus to battery cell manufacturing and reducing its workforce.
Would-be battery manufacturers that could serve the US energy storage industry with domestically made cells are facing a “perfect storm,” Energy-Storage.news has heard.
