Lyten secures $200m to expand battery and BESS operations in Europe
This brings total funding raised by the lithium-sulphur battery developer to over $625 million. The additional capital comes primarily from existing investors and will fund manufacturing growth, team integration, and the scale-up of Lyten’s newly acquired assets.
The company recently acquired the rights to Northvolt’s Battery Energy Storage System (BESS) product portfolio, including the Voltpack Mobile Systems (VMS), Voltrack, and additional BESS solutions currently in development. According to Lyten, “the VMS product is already in its third generation, with commercial installations throughout Europe.” Core members of Northvolt’s energy storage engineering team will join Lyten in Stockholm. Manufacturing of these systems will take place at the company’s Gdansk site in Poland.
Lyten states that this marks its third acquisition from Northvolt since November 2024. Earlier transactions include the purchase of Northvolt’s Cuberg battery manufacturing facility in California and the planned acquisition of Northvolt Dwa, Europe’s largest BESS manufacturing facility, located in Gdansk. Lyten plans to restart production at the Dwa facility immediately upon closing the transaction, with deliveries targeted for the fourth quarter of 2025.
“We are thrilled by the investment community’s response to our expansion strategy,” said Dan Cook, Lyten CEO and Co-Founder. “This capital is focused on rapid, capital-efficient expansion of manufacturing and onboarding world-leading talent in both the US and European markets.”
Zia Huque, General Partner at Prime Movers Lab, added: “This is a testament to both Lyten’s technology and its leadership team’s experience in private equity, which is unique in the battery industry.”
David Ku, a Lyten investor and former Microsoft Corporate Vice President of AI, stated: “Success in AI is determined by the ability to deliver abundant, reliable power. Battery energy storage is a critical piece of AI data centre infrastructure. Lyten’s lithium-sulphur batteries are uniquely positioned to deliver the performance and supply chain independence necessary to meet AI’s insatiable need for batteries.”
Lyten and Northvolt expect to complete the acquisition of both the Dwa facility and the Swedish energy storage portfolio in Q3 2025. Lyten plans to prioritise deliveries to existing European customers before expanding to global industrial, AI data centre, commercial, and grid markets.
The battery developer already operates an automated pilot line in San Jose, California, which opened in May 2023. It is also where Lyten produced its A-samples of its 6.5 Ah pouch cells, which it shipped to Stellantis and other car manufacturers in May 2024. The San Jose production line will also supply B-samples for auto OEMs and commercial cells for smaller volumes to non-EV customers.
Lyten was founded in 2015. Its investors include Stellantis, FedEx, Honeywell, Walbridge and Prime Movers Lab. In February of last year, Chrysler announced the use of Lyten’s Li-S batteries in its Halcyon concept vehicle.
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