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

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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…



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



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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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