northvolt
Quick info
Paolo Cerruti
Vargas Holding
CURRENT STATUS
Lyten, a global leader in lithium-sulfur batteries, has acquired Northvolt’s remaining assets and intellectual property in Sweden and Germany. The acquisition enables the facilities and competences built around Northvolt to continue contributing to Europe’s energy independence and the global transition toward clean industry. This follows Northvolt’s bankruptcy announcement on March 12, 2025, after an exhaustive effort to explore all available means to secure a viable financial and operational future for the company.
Like many companies in the battery sector, Northvolt has experienced a series of compounding challenges that eroded its financial position, including rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand. Further to this backdrop, the company has faced significant internal challenges in its ramp-up of production, both in ways that were expected by engagement in what is a highly complex industry, and others which were unforeseen.
Despite pursuing all available options to negotiate and implement a financial restructuring, including a Chapter 11 restructuring process in the United States, and despite liquidity support from lenders and key counterparties, the company was unable to secure the necessary financial conditions to continue in its current form. The Board therefore determined that bankruptcy was the only available solution at the time, while the company pursued all realistic options to obtain financing to continue operating during the Swedish bankruptcy process. The subsequent acquisition by Lyten offers a path for continued use of Northvolt’s assets, capabilities and know-how in support of Europe’s clean energy ambitions.
The entities Northvolt AB, Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB filed with the Swedish court. Northvolt Germany and Northvolt North America are not filing for bankruptcy in their respective jurisdictions.
northvolt timeline
Founded with the mission of developing the world’s greenest lithium-ion battery.
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