Northvolt Acquisition: Announcing New Leadership for Battery Company
From the Northvolt Ett battery factory in Skellefteå, Northern Sweden. The Swedish battery manufacturer Northvolt filed for bankruptcy in Sweden in March 2025. (Photo: Lyten).
US-based battery company Lyten recently entered into an agreement to acquire remaining Northvolt assets in Europe, including its factory in Skellefteå, Northern Sweden. Lyten has also announced key roles in the new leadership following the acquisition.
In August, it was announced that the American battery company Lyten has entered into an agreement to acquire remaining Northvolt assets in Europe. More specifically, this concerns Northvolt's remaining assets in Germany and Sweden.
As is known, battery manufacturer Northvolt filed for bankruptcy in Sweden in March 2025 following major losses and production problems.
Planning to restart production
The recent, aforementioned agreement includes the acquisition of the Northvolt Ett battery factory in Skellefteå in Northern Sweden, where Lyten plans to restart operations upon close of the transaction.
The acquisition is expected to close in the fourth quarter of this year, but the transactions are subject to approvals from various authorities.
The company furthermore notes that it is seeking to resume production of the products that were previously developed and manufactured at Northvolt. This includes manufacturing of lithium-ion NMC batteries in Skellefteå. It also appears that Lyten over time will introduce lithium-sulfur battery manufacturing into the Northvolt facilities.
According to the company, Lyten also plans to rehire a significant portion of the previously laid-off workforce at these facilities, and will assess staffing needs site by site.
As reported by the Swedish newspaper Dagens nyheter, among others, there are however questions regarding the recruitment of workers, as many have already applied to other employers or moved.
Recruiting former Northvolt executives
Markus Dangelmeier has been appointed as CEO of Northvolt Ett in Skellefteå. (Photo: Lyten).
Last week, Lyten announced key management positions in Sweden and Poland following the acquisition of Northvolt's assets in Europe.
For Sweden, this includes Matthias EJ Arleth, who will be CEO of Lyten Sverige in Stockholm, while Markus Danglemaier has been appointed CEO of Northvolt Ett in Skellefteå.
Both have previous connections to Northvolt in similar positions, reports Dagens nyheter, which points out that Arleth became Chief Operating Officer at Northvolt in October 2024 and has worked closely with the bankruptcy trustee during the bankruptcy process.
Dangelmeier continues in the role he has had since January 2025. He has also worked closely with the bankruptcy trustee to get production in Skellefteå in order, the newspaper writes.
Lyten and Northvolt
- Lyten was founded in 2015 and describes itself as a global leader in lithium-sulfur batteries.
- The battery company is headquartered in San Jose, California, with a European headquarters in Luxembourg.
- Lyten currently manufactures lithium-sulfur batteries in Silicon Valley and sells commercially to the rapidly growing drone and defense markets.
- In August, the company announced that it has entered into binding agreements to acquire Northvolt Ett and Ett Expansion (Skellefteå), Northvolt Labs (Västerås), Northvolt Drei (Germany) and all remaining Northvolt intellectual property (IP).
- These newly acquired assets were previously valued at approximately $5 billion and include 16 GWh of operational battery manufacturing capacity and over 15 GWh under construction.
- Lyten has expressed interest in acquiring Northvolt Six in Quebec, Canada.
- Lyten plans to resume operations at Northvolt Ett and Northvolt Labs after the transaction is completed.
Source: Lyten.com