- Leading global lithium-sulfur battery manufacturer Lyten announced it has secured more than $200 million in additional equity investment to support its recent acquisitions and overall expansion plans.
- Lyten additionally announced the acquisition of Northvolt's Battery Energy Storage System (BESS) product portfolio in Stockholm, Sweden. Core members of the energy storage engineering team are joining Lyten.
- Lyten intends to immediately restart production of energy storage systems in Gdansk, Poland, following the close of its previously announced Northvolt Dwa acquisition and targets delivery of products in fourth quarter 2025.
Lyten, the supermaterial applications company and global leader in lithium-sulfur batteries, announced today it has secured more than $200 million in additional equity investment. This brings total investment to date in Lyten to more than $625 million. The additional investment is provided primarily from current investors. Lyten intends to accelerate its acquisition strategy and expansion plans in both the US and Europe with the additional capital.
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Lyten's Headquarters in San Jose, California
Additionally, Lyten announced today it has acquired the rights to Northvolt's energy storage products, Voltpack Mobile Systems (VMS), Voltrack, and future BESS products currently in development. This is Lyten's third Northvolt-related acquisition since November 2024. The VMS product is already in its third generation, with commercial installations throughout Europe. The core members of Northvolt's energy storage engineering team will be joining Lyten in Stockholm, Sweden, and VMS and future BESS products will be manufactured in Gdansk, Poland.
Lyten previously announced the acquisition of two Northvolt assets. In November 2024, Lyten announced the acquisition of Northvolt's Cuberg battery manufacturing facility in California and earlier in July announced its plans to acquire Northvolt Dwa, Europe's largest Battery Energy Storage System (BESS) manufacturing facility, located in Gdansk, Poland.
"We are thrilled by the investment community's response to our expansion strategy," stated Dan Cook, Lyten CEO and Co-Founder. "Lyten is seeing immediate demand for its battery products in support of energy independence and national security initiatives in the US and Europe. Drones, defense, datacenters and BESS are all markets seeking battery solutions independent of Chinese supply chains. This capital is focused on rapid, capital-efficient expansion of manufacturing and onboarding world-leading talent in both the US and European markets."
Zia Huque, Lyten investor and General Partner at Prime Movers Lab, added, "We continue to be impressed by Lyten's ability to grow through acquisitions. This is a testament to both Lyten's technology and its leadership team's experience in private equity, which is unique in the battery industry. The ability to efficiently scale manufacturing capacity is critical for Lyten right now to meet the rapidly growing demand for its products."
Lyten intends to immediately restart BESS manufacturing in Gdansk, Poland, upon the close of the previously announced acquisition of Northvolt Dwa and targets product deliveries in the fourth quarter of 2025. Deliveries will initially target existing European customers and then quickly expand to a wide range of global markets, including AI datacenter, industrial, commercial, and grid applications.
David Ku, Lyten Investor and former Microsoft Corporate Vice President of AI and CTO of the Artificial Intelligence Research division, stated, "Success in AI is determined by the ability to deliver abundant, reliable power. Battery energy storage is a critical piece of AI data center infrastructure. Lyten's lithium-sulfur batteries are uniquely positioned to deliver the performance and supply chain independence necessary to meet AI's insatiable need for batteries."
Lyten and Northvolt intend to close the transaction of the Northvolt Dwa facility in Poland and Northvolt System's BESS product portfolio in Sweden in the third quarter of 2025.
About Lyten
Lyten, founded in 2015, is a supermaterial applications company that has received more than $625 million in equity investment and secured LOIs for $650M in financing from the Export Import Bank of the US. Lyten has built a proprietary materials platform, called Lyten 3D Graphene, that it uses to build better performing, lower cost, and decarbonizing products, including its next generation lithium-sulfur battery. Lyten corporate headquarters is in San Jose, CA and European headquarters is in Luxembourg.
The company lists more than 540 patents granted or pending and is currently manufacturing in San Jose, CA. In November 2024, Lyten announced the acquisition of Northvolt's battery manufacturing plant in San Leandro, California to scale production to meet the demand for American made batteries. In 2024, Lyten announced its integration into Chrysler's Halcyon Concept electric vehicle, plans to integrate lithium-sulfur into AEVEX Aerospace's unmanned aerial vehicles, and the selection of Lyten Lithium-Sulfur for demonstration on-orbit aboard the International Space Station (ISS), scheduled for launch later in 2025.
Lyten was named Fast Company's #8 Most Innovative Energy Company, named to Silicon Valley Defense Journal's Top 100 National Security Companies from 2023 2025, and named one of America's Top Green Technology Companies by Time in 2024 and 2025.
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