Lyten secures Northvolt's Heide site with €60 million acquisition

Executive summary: Lyten agreed to acquire the former Northvolt plant in Heide for about €60 million, reviving the shuttered facility. The acquisition preserves jobs and supports Germany’s strategic aim of establishing a domestic battery industry.

Who is involved: Lyten, the former Northvolt assets, German state authorities, and the original Northvolt shareholders.

Likely next: Regulatory approval is expected within months, after which Lyten plans to retrofit the site for new battery chemistries and seek additional funding.

Lyten, a start-up specializing in battery materials, will take over the abandoned production facilities of the defunct Swedish battery maker Northvolt at Heide, Germany. The deal, funded partly by state subsidies, involves a purchase price of roughly €60 million, a fraction of the original investment. This transaction clears the way for the site’s reactivation and could reshape Germany’s domestic battery supply chain.