Lyten Signs Exclusive MOU to Acquire Former Northvolt Gigafactory Site in Heide, Germany

US battery startup Lyten signed an exclusive memorandum of understanding on July 1, 2026 to acquire the Northvolt Drei assets near Heide, Germany, alongside KfW (Germany's state-owned promotional bank), Northvolt Drei Project GmbH, and shareholder LG Batterie GmbH, at an agreed price of approximately €60 million. The 110-hectare brownfield site — where construction never began despite a 2024 groundbreaking — had already received power and utility infrastructure. Parties are targeting a definitive sales agreement in Q3 2026, subject to regulatory approval. Lyten plans a "significantly smaller" facility than Northvolt's original vision (roughly 1,000 jobs vs. 3,000 planned), combining battery cell production, energy storage systems, and a data center. This follows Lyten's completed acquisitions of Northvolt Ett (Skellefteå, Sweden) and Northvolt Labs (Västerås) in February 2026.