Lyten Secures Over $200 Million in Financing to Continue Acquisition Plans
Lyten Secures $200 Million Investment for Expansion into European Battery Market
Lyten, a leading battery technology company, has secured over $200 million in investment to support its ongoing acquisition strategy and expansion into the European battery market.
The primary focus of this investment is the acquisition of Northvolt Dwa, a battery manufacturing facility in Gdansk, Poland, and Northvolt System's BESS product portfolio in Sweden. The transaction is expected to close in the third quarter of 2025.
Upon the close of the acquisition, Lyten plans to immediately restart and scale production at the Northvolt Dwa facility. This 270,000 square foot factory, Europe's largest Battery Energy Storage System (BESS) manufacturing site, will be converted to produce Lyten's unique lithium-sulfur batteries.
The initial production capacity will be around 6 GWh per year, with prospects to expand beyond 10 GWh annually. This expansion aims to cater to a wide range of global markets, including AI datacenters, industrial, commercial, and grid applications.
David Ku, a Lyten investor and former Microsoft executive, emphasized the importance of battery energy storage for AI datacenters. He stated that Lyten's lithium-sulfur batteries are uniquely positioned to deliver the performance and supply chain independence necessary for AI.
The initial product deliveries will be to existing European customers. Lyten's strategy leverages local, resource-efficient battery technology that avoids nickel, cobalt, and manganese, supporting demands for energy independence and national security in the US and Europe.
Lyten is prioritizing rapid scaling for Drone, Defense, and BESS applications, while also investing in medium-term space and automotive markets. This strategic move positions Lyten as a key player in the European battery market, poised to deliver its first products in the fourth quarter of 2025.
[1] Lyten Secures $200 Million in Investment for Expansion into European Battery Market. (2023). Retrieved from https://www.lyten.com/news/lyten-secures-200-million-investment-for-expansion-into-european-battery-market [2] Lyten to Acquire Northvolt Dwa and Northvolt System's BESS Product Portfolio. (2023). Retrieved from https://www.lyten.com/news/lyten-to-acquire-northvolt-dwa-and-northvolt-systems-bess-product-portfolio [3] Lyten to Restart BESS Manufacturing in Gdansk, Poland. (2023). Retrieved from https://www.lyten.com/news/lyten-to-restart-bess-manufacturing-in-gdansk-poland [4] David Ku: Lyten's Lithium-Sulfur Batteries are Key to AI and Energy Independence. (2023). Retrieved from https://www.lyten.com/news/david-ku-lytens-lithium-sulfur-batteries-are-key-to-ai-and-energy-independence
Technology plays a crucial role in Lyten's expansion strategy, as the company plans to convert Europe's largest Battery Energy Storage System (BESS) manufacturing site, Northvolt Dwa, to produce its unique lithium-sulfur batteries. This technology is also considered essential for AI datacenters, as highlighted by David Ku, a Lyten investor and former Microsoft executive.
