Lyten, a California-based startup specializing in lithium-sulfur battery technology, has agreed to acquire all remaining European assets of the bankrupt Swedish battery manufacturer Northvolt. The acquisition includes Northvolt's flagship factory, Northvolt Ett, its expansion site, Northvolt Drei, and the Northvolt Labs research and development facility in Sweden, as well as a planned factory site in Germany. These assets, valued at approximately $5 billion, encompass gigafactories with a combined capacity of 31 gigawatt-hours. Northvolt, once considered a key player in Europe's effort to achieve battery independence from Asian competitors, filed for bankruptcy in March 2025. The acquisition by Lyten offers a potential path forward for the European battery sector, although questions remain about whether the relatively small startup, with around 250 employees, can manage the large-scale operations that Northvolt could not sustain. The sale is viewed by the bankruptcy trustee as a notable outcome despite significant losses for many of Northvolt's creditors.