Lyten takes over Northvolt’s German gigafactory. The investor is building a battery powerhouse anchored in its Gdańsk plant
The American company Lyten, specializing in advanced battery technologies and supermaterials, has signed an exclusive letter of intent to acquire the unfinished Northvolt Drei gigafactory in Heide, Germany. The transaction marks another step in the company’s strategy to build a European industrial empire, with the previously acquired Northvolt Zwei plant in Gdańsk serving as a key production pillar.
German hub for batteries and artificial intelligence
The signed agreement with the German development bank KfW, the Northvolt Drei project company, and LG Batterie GmbH grants the Americans exclusivity to finalize the purchase of a 110‑hectare site in Schleswig‑Holstein. Before the bankruptcy of Sweden’s Northvolt, advanced earthworks and network and utility infrastructure had already been completed at the site.
Under the agreement, Lyten immediately assumes the costs of maintaining and securing the construction site (including paying staff). The parties aim to sign the final sales contract in the third quarter of 2026.
The German magazine Der Spiegel revealed that prior to signing the letter of intent, the German Ministry of Economy quietly took over shares in the Northvolt Drei special‑purpose company on behalf of the state, transferring them in trust to intermediary entities. According to unofficial information, the sale price is expected to be around EUR 60 million (approx. USD 68.4 million). This amount is exceptionally favorable considering that construction costs to date have reached EUR 260 million, and the land purchase alone cost another EUR 50 million.
Lyten ultimately plans to launch production in Heide with an initial annual capacity of 15 GWh, combining industrial manufacturing with modern infrastructure dedicated to artificial intelligence.
Revenue‑first strategy
The American company is pursuing a cautious, phased development strategy described as revenue‑first. The goal is to avoid repeating the mistakes of Northvolt, which collapsed due to overly aggressive expansion driven by massive debt.
The acquisition of the gigafactory in Germany is another step following successful purchases of other major assets of the bankrupt Swedish competitor across Europe:
- Poland (Gdańsk) – the Northvolt Zwei plant (now Lyten Zwei), located in the Pomeranian Innovation Zone. It is a fully operational, largest‑in‑Europe factory for energy‑storage systems, serving as Lyten’s main EU production hub and a center generating ongoing profits.
- Sweden (Skellefteå) – the Northvolt Ett cell gigafactory (including the Revolt recycling facility).
- Sweden (Västerås) – the Northvolt Labs research and development center.
With this integrated chain – the Gdańsk factory as the operating heart of BESS production and newly acquired capacities in Sweden and Germany – Lyten is becoming one of the most important players in Europe’s energy transition, bringing to market innovative lithium‑sulfur battery technologies and three‑dimensional graphene.