California-based battery startup Lyten has raised $200 million from existing investors to support the acquisition of strategic assets from the bankrupt Swedish battery manufacturer Northvolt AB, including intellectual property and a large energy storage factory in Poland.
The new funding enables Lyten to advance its pivot from a U.S.-focused battery cell supplier into a broader, vertically integrated player in Europe’s fast-growing energy storage and defense sectors. The Gdansk-based facility, originally built by Northvolt for $200 million, is expected to restart operations using traditional nickel-based cells by Q4 2025, with a long-term plan to convert the site to produce Lyten’s proprietary lithium-sulfur batteries.
“We’re moving downstream in the batteries to own more of the value chain,” said Keith Norman, Lyten’s Chief Marketing and Sustainability Officer. “We’re entering hyper-growth mode in very specific geographies and need to align resources accordingly.”
The expansion follows a recent restructuring at Lyten, which included the departure of Tesla alum Celina Mikolajczak and about 45 other employees. Mikolajczak had played a key role in commercializing Lyten’s lithium-sulfur chemistry—an innovation long viewed as unviable until now.
Lyten’s lithium-sulfur cells aim to offer a lower-cost, high-density alternative to China-dominated lithium iron phosphate (LFP) technologies. They also avoid critical materials tightly controlled by Chinese suppliers, aligning with Western supply chain goals. The company’s Polish plant will produce not only batteries but also key components such as housings, inverters, and safety systems for stationary energy storage systems.
This move comes amid a global battery market realignment, with electric vehicle demand slowing in the U.S. and growing interest in stationary energy storage and military drone applications in Europe.
Lyten’s recent investments also include a lithium-metal manufacturing facility near San Francisco, acquired from Cuberg—another former Northvolt subsidiary.
The $200 million raise was backed by existing investors including Prime Movers Lab, Luxembourg Future Fund, Stellantis NV, and FedEx Corp. Norman noted the funding could support additional acquisitions beyond the Northvolt deal as the company accelerates its European expansion strategy.