Lyten announced on July 1, 2026, that it has signed an exclusive Memorandum of Understanding (MoU) to advance the acquisition of Northvolt Drei’s under-construction battery gigafactory assets near Heide, Germany. The MoU was concluded among Lyten; KfW, Germany’s state-owned promotional bank; Northvolt Drei Project GmbH; and its shareholder LG Batterie GmbH.
The 110-hectare Northvolt Drei site, originally developed by Northvolt AB, has completed major groundwork and installed key power and utility infrastructure. Under the terms of the MoU and a parallel exclusivity agreement with the State of Schleswig-Holstein, Lyten will assume responsibility for funding maintenance, preservation and employee costs associated with the assets. This step follows several months of discussions involving the Government of Schleswig-Holstein and federal authorities in Germany.
Dan Cook, CEO and Co-Founder of Lyten, said the company aims to establish the Heide facility as a hub for clean battery production and related industrial manufacturing, co-located with AI infrastructure. He noted that Europe’s surge in infrastructure spending is driving long-term demand for electrification, data centers and defense applications, and emphasized the site’s access to renewable power and regional talent.
Over the past year, Lyten expanded its European footprint by acquiring additional former Northvolt sites, including a large battery plant in Skellefteå, Sweden; a battery energy storage system facility in Gdańsk, Poland; and a research and development center in Västerås, Sweden. All parties are now working toward signing a definitive sales agreement in the third quarter of 2026, subject to customary regulatory approvals and closing conditions. Specific terms of the MoU have not been disclosed.
Founded in 2015, Lyten develops advanced lithium-sulfur batteries and 3D graphene materials for critical infrastructure, mobility, defense and energy storage applications. The company holds more than 1,100 granted or pending patents and operates manufacturing sites in California, Sweden and Poland. Its R&D arm, LytwrX, focuses on innovative graphene-based solutions for concrete, composites and sensors.
Source: Journal of Energy Storage and Mobility (https://lyten.com/2026/07/01/lyten-signs-exclusive-mou-to-progress-acquisition-of-northvolt-drei-assets-in-germany/)
