Battery maker Northvolt filed for bankruptcy in March after it failed to secure the financial backing needed to continue operating.

U.S. battery startup Lyten has agreed to buy most of bankrupt Swedish battery maker Northvolt, it said on Thursday, potentially offering a way back for the European company that was once seen as the region's answer to rivals in Asia.

SAN JOSE, Calif. & STOCKHOLM & HEIDE, Germany, August 07, 2025--Lyten, the global leader in lithium-sulfur batteries, announced today that it has entered into a binding agreement to acquire Northvolt’s remaining assets in Sweden and Germany.