Lyten, a lithium-sulfur battery developer, has completed the acquisition of energy storage solutions provider Northvolt’s battery business assets in Sweden, totaling nearly $5 billion in value, including Northvolt Ett and Ett Expansion (Skellefteå, Sweden) and Northvolt Labs (Västerås, Sweden).
The acquisition includes 16 GWh of existing battery manufacturing capacity, more than 160 hectares of land, infrastructure, and buildings to support expanded manufacturing and industrial operations, and a battery research and development center.
Lyten also acquired Northvolt’s Dwa Energy Storage System manufacturing facility in Gdansk, Poland, last year. These acquisitions were followed by the planned divestment of Northvolt systems business unit as part of the company’s strategic review and bankruptcy proceedings in late 2024.
According to the company, it will initiate the restart process of Northvolt Ett and Northvolt Labs. Northvolt Ett will manufacture lithium-ion Nickel Manganese Cobalt Oxide (NMC) batteries for BESS, automotive, and mobility customers, while Northvolt Labs in Västerås will continue development of long-life lithium-ion NMC cells and will collaborate with the Lyten Silicon Valley team to industrialize Lyten’s lithium-sulfur battery technology for gigascale manufacturing.
The company expects commercial sales of cells from Northvolt Ett to supply Lyten’s BESS manufacturing facility in Poland, Northvolt Dwa, in the second half of 2026.
Lyten also announced the launch of the Lyten Industrial Hub at the Northvolt Ett site in Skellefteå. The hub will leverage existing infrastructure and clean hydropower to co-locate battery manufacturing with AI data centers and other strategic industrial operations.
EdgeConneX, a developer of data centers and a portfolio company of EQT, plans to acquire a data center site from Lyten in Skellefteå, stating that the site has the potential to scale to a one-gigawatt data center campus.
Lyten is funding its Northvolt acquisitions with equity investments from existing and new North American and European investors and capital from the EdgeConneX investment in the data center site.
According to Mercom’s Annual and Q4 2025 Funding and M&A for Energy Storage report, the corporate M&A activity decreased, with 22 companies acquired in 2025 compared to 25 in 2024.
In February 2025, ESS Tech, a manufacturer of iron flow long-duration energy storage solutions, announced the acquisition of the intellectual property and assets of iron-salt battery company VoltStorage, a company that filed for bankruptcy last year amid challenging market conditions, shifting investment cycles, and strategic headwinds.
