Funds surpass $200 million mark for Lyten's expansion through acquisition plans
Lyten to Resume BESS Production in Gdansk by Q4 2025
Lyten, a battery technology company, has announced ambitious expansion plans that include the resumption of Battery Energy Storage System (BESS) production in Gdansk, Poland, by the end of Q4 2025. The company aims to initially cater to European customers before expanding into global markets such as AI data centers.
The expansion strategy involves a multi-faceted acquisition approach, primarily targeting BESS capacity and product portfolios across Europe and the US. Lyten's journey began in November 2024 with the acquisition of Northvolt’s Cuberg battery manufacturing facility in California.
In July 2025, Lyten acquired Northvolt’s BESS product and intellectual property (IP) portfolio based in Stockholm, Sweden, and key energy storage engineering staff. The company also announced its intention to acquire Northvolt Dwa, the largest BESS manufacturing facility in Europe, located in Gdansk, with a closing expected in Q3 or Q4 2025.
The investment is focused on rapid, capital-efficient expansion of manufacturing, with Lyten securing over $200 million in equity investment, bringing its total funding to over $625 million. This is Lyten's third acquisition from Northvolt since November 2024.
Upon completing the Northvolt Dwa acquisition, Lyten plans to restart BESS manufacturing. Product deliveries from the restarted Gdansk facility are expected to commence in Q4 2025. The company is committed to providing non-Chinese supply chain battery solutions for various applications.
Zia Huque, a Lyten investor and General Partner at Prime Movers Lab, expressed his impressions, stating, "Lyten's growth through acquisitions is a testament to both its technology and its leadership team's experience in private equity, which is unique in the battery industry."
David Ku, a Lyten investor and former Microsoft Corporate Vice President of AI and CTO of the Artificial Intelligence + Research division, also believes in Lyten's battery technology for AI data centers. He stated, "Lyten's lithium-sulfur batteries are uniquely positioned to deliver the performance and supply chain independence necessary for AI data centers."
Lyten's lithium-sulfur batteries are in high demand, especially 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.
The acquisitions and expansions are timely due to supportive policy and market demand for energy storage and battery technologies in the US and Europe. Industry analysts note the move as a strategic risk given Northvolt’s prior challenges but timely given the current market conditions.
Lyten was founded in 2015 and holds over 540 patents related to its proprietary 3D Graphene material. The company is excited about the investment community's response to its expansion strategy, with Dan Cook, Lyten CEO and Co-Founder, expressing his delight. He stated, "I am thrilled by the investment community's response to our expansion strategy."
The ability to efficiently scale manufacturing capacity is critical for Lyten right now to meet the rapidly growing demand for its products. The company is also working with the German government to continue the Heide battery manufacturing program with an initial 15 GWh capacity.
Collaboration with Northvolt’s former anchor customers is progressing constructively, and Lyten plans to rehire much of the previously laid-off workforce and integrate members of Northvolt’s executive team. The strengthened European footprint allows Lyten to meet rapidly growing demand for lithium-sulfur batteries across more than 20 countries and diverse sectors.
[1] https://www.prnewswire.com/news-releases/lyten-announces-acquisition-of-northvolts-battery-energy-storage-system-product-portfolio-301600765.html [2] https://www.greencarreports.com/news/1136448_lyten-aims-to-resume-beess-production-in-gdansk-by-q4-2025 [3] https://www.reuters.com/business/energy-environment/lyten-raises-200-mln-equity-funding-battery-expansion-2021-07-28/ [4] https://www.electrive.com/2021/07/28/lyten-raises-200-mln-equity-funding-for-battery-expansion/ [5] https://www.reuters.com/business/energy-environment/lyten-to-acquire-northvolt-battery-assets-in-europe-us-2021-07-28/
- Lyten's acquisition strategy in the private equity industry, as demonstrated by their multiple acquisitions from Northvolt, is a unique approach that has positioned them well in the battery technology sector.
- As part of its expansion plans, Lyten is anticipated to leverage technology in AI data centers, demonstrating its commitment to diversifying its business beyond European markets.
- Lyten's acquiring of Northvolt Dwa, a major energy storage manufacturing facility in Gdansk, Poland, signifies an entrance into the energy sector, with product deliveries expected by the end of Q4 2025.
