By ESS News
US Lithium-Sulfur Battery manufacturer Lyten has agreed to acquire the remaining assets of North Volt in Sweden and Germany, in a deal that underlines the growing role of American capital in the battery sector of Europe.
The acquisition includes North Volt ETT and ETT extension in Skellefteå, Northvolt Labs in Västerås and Northvolt Drei in Heide, as well as all remaining intellectual property of North Volt. Several members of the Executive Team of North Volt are expected to become a member of Lyten. Financial conditions have not been announced.
The portfolio, rather appreciated at around $ 5 billion, adds 16 GWH to operational production capacity and more than 15 GWh under construction. Lyten says that the sites have the infrastructure to scale more than 100 GWh. The Västerås facility is described as the largest Battery R&D center in Europe.
Visit our visit ESS News website.
This content is protected by copyright and may not be reused. If you want to work with us and reuse part of our content, please contact: editors@pv-magazine.com.
Popular content
