Lyten, a California-based startup specializing in lithium-sulfur batteries, has agreed to acquire all remaining European assets of the bankrupt Swedish battery manufacturer Northvolt. The acquisition includes Northvolt's flagship factory, research and development facilities in Sweden, and a future factory site in Germany, collectively offering a total capacity of 31 gigawatt-hours. Valued at approximately $5 billion in assets, the deal encompasses Northvolt Ett, Ett Expansion, Northvolt Labs, and Northvolt Drei, along with associated intellectual property. Northvolt had filed for bankruptcy in March after ramping up production of high-quality battery cells at its Skellefteå plant. The sale is viewed as a notable development for the European battery industry, potentially aiding efforts toward European battery independence. However, questions remain about Lyten's ability to manage the large-scale operations, given its relatively small size with 250 employees. Creditors of Northvolt are expected to incur substantial losses from the bankruptcy proceedings. The acquisition marks a strategic move for Lyten as it consolidates Northvolt's assets and advances its lithium-sulfur battery roadmap.