WARSAW (Reuters) -Silicon Valley startup Lyten will take full possession of Northvolt Dwa ESS, Europe’s largest power storage programs manufacturing facility, in a transfer to broaden its product line, the U.S. firm mentioned on Tuesday.
Northvolt filed for chapter in March, considered one of Sweden’s largest company failures and successfully ending Europe’s finest hope of growing a rival to problem Chinese language battery makers. It introduced the manufacturing facility’s closure in November final 12 months.
“We plan to right away restart operations in Poland and ship on current and new buyer orders,” Dan Cook dinner, Lyten CEO and co-founder, mentioned in a press release.
The 25,000 sq. metre (269,000 sq. ft) battery power storage system manufacturing and R&D facility in Gdansk, Poland, opened in 2023.
The power contains gear for as much as 6 gigawatt-hours of power storage manufacturing capability and the footprint to broaden to 10 GWh sooner or later, Lyten mentioned in a press release, including that it had contracted orders extending into 2026.
The monetary phrases of the transaction, which is predicted to be accomplished within the third quarter, weren’t disclosed.
(Reporting by Anna Koper and Marek Strzelecki. Modifying by Mark Potter)
