According to reports from Spiegel and dpa, the U.S. battery technology firm Lyten has reached a preliminary agreement with Germany’s Kreditanstalt für Wiederaufbau (KfW), the federal government and the state government of Schleswig-Holstein to acquire the site of the former Northvolt battery plant near Heide for approximately €60 million. While an official statement has yet to be issued, a spokesperson for the state’s Ministry of Economic Affairs confirmed that discussions with Lyten are ongoing. The state cabinet and two parliamentary committees are slated to review the transaction in the coming week, after which the government may provide further details.
The Heide site was originally earmarked for a large-scale battery factory by Swedish start-up Northvolt, which envisioned creating around 3,000 jobs. In support of the project, KfW released a €600 million convertible bond—equally guaranteed by the federal government and Schleswig-Holstein. However, Northvolt’s parent company subsequently filed for insolvency, leaving the federal and state governments responsible for the bond.
Lyten first expressed interest in the Heide location in mid-2025. The California-based company plans to develop a battery cell manufacturing facility, an energy storage unit and a data center, with an estimated workforce of 1,000. In connection with the proposed takeover, the federal and state governments have secured around €153 million in recoverable funds. Schleswig-Holstein’s total financial exposure related to the Northvolt bond is estimated at approximately €200 million. The planned sale to Lyten could yield a further mid-double-digit million-euro return for the public coffers.
The Heide case has also generated political scrutiny. A ruling by the state constitutional court found that the government failed to adequately inform members of parliament about key developments. The state premier acknowledged shortcomings in communication but stopped short of issuing an official apology. As the Lyten agreement moves forward, regional leaders aim to balance transparency with the urgency of revitalizing the Heide site and preserving local employment prospects.
Source: NDR (https://www.ndr.de/nachrichten/schleswig-holstein/batteriefabrik-lyten-will-offenbar-60-millionen-euro-zahlen,lyten-140.html)
