Silicon Valley startup Lyten will take full ownership of Northvolt Dwa ESS, Europe’s largest energy storage systems factory, in a move to expand its product line, the US company said on Tuesday.
Northvolt filed for bankruptcy in March, one of Sweden’s largest corporate failures and effectively ending Europe’s best hope of developing a rival to challenge Chinese battery makers. It announced the factory’s closure in November last year.
“We plan to immediately restart operations in Poland and deliver on existing and new customer orders,” Dan Cook, Lyten…