US startup Lyten to take over Northvolt’s energy storage systems factory in Poland

The US company said on Tuesday, Warsaw (Reuters) -silicon Valley Start Lyten, Europe’s largest energy storage systems factory Northvolt DWA ESS’in product line will receive full ownership, he said.

Northvolt applied for bankruptcy in March, one of Sweden’s biggest corporate failures, and effectively ended the hope of developing a competitor to challenge Chinese battery manufacturers of Europe. He announced the closing of the factory in November last year.

“We are planning to restart the operations in Poland and fulfill new customer orders,” Lyten CEO and founding partner Dan Cook. He said.

The production of 25,000 square meters (269.000 feet square) opened in 2023 and the R -GE Facility in Poland.

The facility includes equipment for 6 Gigawatt -hour energy storage production capacity and footprints to expand to 10 GWh in the future, Lyten added that it has signed a contract until 2026.

The financial conditions of the transaction expected to be completed in the third quarter were not announced.

(Reporting by Anna Koper and Marek Strzelecki. Editing by Mark Potter)