Funds Exceeding $200 Million Collected to Bolster Acquisition Endeavors by Lyten
Lyten, a leading innovator in lithium-sulfur battery technology, is aggressively expanding its presence in the U.S. and Europe. The company's strategic acquisitions, organizational restructuring, and significant capital raising are aimed at rapid scale-up and market penetration in the stationary energy storage and defense sectors, with future goals to enter the automotive and space markets.
Acquisitions of Northvolt Assets
In July 2025, Lyten announced plans to acquire Northvolt Dwa, the largest Battery Energy Storage System (BESS) manufacturing facility in Gdańsk, Poland. Production is set to restart at the end of 2025, with first product deliveries starting in Q4 2025, initially targeting European customers. This acquisition follows Lyten's November 2024 acquisition of Northvolt's Cuberg battery production business in California, which enhances their U.S. manufacturing base.
In August 2025, Lyten entered binding agreements to acquire all remaining Northvolt assets in Sweden and Germany, including the Northvolt Ett and Ett Expansion plants, as well as pursuing acquisition of Northvolt Six in Quebec, Canada.
Organizational Changes
Lyten is reorganizing its teams to target immediate scaling for drone, defense, and BESS sectors where demand is growing rapidly. Space and automotive applications are targeted for medium-term development. Notable members of Northvolt's energy storage engineering team will join Lyten in Stockholm.
Capital Raising
Lyten has secured over $200 million in additional equity funding primarily from existing investors, bringing its total equity capital to over $625 million. This capital fuels their acquisition and expansion plans across the U.S. and Europe.
Market and Technology Outlook
Lyten is focused on leveraging lithium-sulfur technology benefits—such as lower cost, lighter weight, and compatibility with existing lithium-ion manufacturing lines—in expanding markets including energy storage, national security, on- and off-grid energy, data centers, and emerging EV battery development with partners like Stellantis.
The company is experiencing immediate demand for its battery products in support of energy independence and national security initiatives in the U.S. and Europe. Moreover, it is committed to providing non-Chinese supply chain battery solutions for various applications, including drones, defense, datacenters, and BESS.
The investment community has shown support for Lyten's expansion strategy. The closure of the Northvolt Dwa transaction and the BESS portfolio in Sweden is anticipated in the third quarter of 2025. Lyten aims to resume BESS production in Gdansk by Q4 2025, initially targeting European customers.
[1] Lyten Press Release (2025). Lyten Announces Acquisition of Northvolt Dwa. [Online]. Available: https://www.lyten.com/news/lyten-announces-acquisition-of-northvolt-dwa
[2] Stellantis Press Release (2025). Stellantis and Lyten to Collaborate on Next-Generation Battery Technology. [Online]. Available: https://media.stellantis.com/mediacenter/us/en/stellantis-and-lyten-to-collaborate-on-next-generation-battery-technology-20624274/
[3] Lyten Press Release (2024). Lyten Secures $200 Million in Equity Funding. [Online]. Available: https://www.lyten.com/news/lyten-secures-200-million-in-equity-funding
[4] Lyten Press Release (2024). Lyten Acquires Northvolt's Cuberg Battery Production Business. [Online]. Available: https://www.lyten.com/news/lyten-acquires-northvolts-cuberg-battery-production-business
[5] Lyten Press Release (2025). Lyten to Acquire Northvolt's Ett and Ett Expansion Plants. [Online]. Available: https://www.lyten.com/news/lyten-to-acquire-northvolts-ett-and-ett-expansion-plants
- Lyten's acquisition of Northvolt's assets in Poland, Sweden, Germany, and Canada, coupled with its recent equity funding of over $625 million, indicates a significant strategic move in the private equity market, as the company invests in technology and expands its manufacturing capabilities in the fields of energy storage, drone, defense, and automotive industries.
- With targeted organizational changes focusing on rapid scaling in the drone, defense, and battery energy storage system (BESS) sectors, Lyten is challenging the status quo in finance by leveraging advanced technology, particularly lithium-sulfur battery technology, to penetrate the stationary energy storage, defense, and emerging electric vehicle markets.
