U.S. Startup Scoops Up Bankrupt Northvolt’s $5B European Gigafactory Assets

California-based Lyten has signed a binding agreement to acquire nearly all remaining assets of failed European battery firm Northvolt, including its Swedish and German gigafactories and all remaining intellectual property. In the deal, announced on Thursday, the company confirmed it would take over Northvolt Ett, Northvolt Labs, and Northvolt Drei, including projects developed with more than $5 billion in capital investment. According to Energy-Storage.news, the assets include 16GWh of operational lithium-ion capacity at Ett, with an additional…