Lyten acquires Northvolt's assets in Sweden and Germany. 2025-08-07
The sale of Northvolt's battery factory in Skellefteå and its development facility in Västerås is now complete. The U.S. battery company Lyten has acquired the factories, the headquarters in Stockholm, and all intellectual property. The deal also includes Northvolt’s shares in the projects Northvolt Drei in Germany.
This sale would not have been possible without extraordinary efforts from a large number of individuals: employees of Northvolt, around 25 staff members from all offices of Ackordscentralen, legal advisors from firms including Cederqvist, Milbank, and Lindahl, financiers, Scania, the municipality of Skellefteå, Business Sweden, the Swedish government, labor unions, and many others.
Northvolt's bankruptcy in March 2025 became the largest in modern Swedish history, with nearly 80 billion in debt and around 5,000 employees. The bankruptcy is also one of the largest industrial insolvencies in Europe in modern times. The challenges have been both difficult and complex. The situation was particularly critical in Skellefteå, where the factory completely lacked liquid funds.
Thanks to the dedication of the staff and enormous support from Scania, production was temporarily resumed during the spring. This bought valuable time, and negotiations could begin. However, when production ceased, the business was left without revenue. Potential buyers chose not to proceed. Planning for a complete shutdown began, but hope for a restart remained, especially among employees and the local community.
In June, new interested parties emerged, and after an extremely intensive effort since then, the negotiations finally led to an agreement with Lyten. Certain conditions remain before the deal can be finalized, including regulatory approvals in Sweden, Germany, and Canada. What remains to be sold afterward is the recycling facility Revolt, but even there, a solution is beginning to take shape.
With this sale, the conditions now exist to carry forward Northvolt's vision of sustainable battery production, European energy independence, and new job opportunities.
/Statement från trustee Mikael Kubu
Information regarding the Northvolt bankruptcies 2025-05-22
There are interested parties and potential buyers for the various business operations within the Northvolt Group. Discussions and negotiations are ongoing and are at varying stages of progress with respect to the different operations. A portion of Northvolt Systems AB’s business has already been sold.
As regards the battery cell production in Skellefteå (Northvolt Ett AB’s operations), a due diligence process is currently underway. However, at present, the bankruptcy estate does not foresee any realistic prospects for a purchaser to assume control of the production in the near term.
The bankruptcy estate has been able to continue battery cell production with a limited number of employees, supported by the existing customer. However, this arrangement is not sustainable in the long term for a single stakeholder, nor for the bankruptcy estate itself. Consequently, a gradual wind-down of battery cell production in Northvolt Ett will be initiated, with the objective of ceasing production by 30 June. Efforts to identify a purchaser remain ongoing.
/Mikael Kubu
Updated info on state wage guarantee and employment certificates for employees released from work in the Northolt bankruptcy, 2025-05-05
Decisions for state wage guarantee for accrued vacation days, time bank etc. have been made for the employees during the period 22nd-28th of April 2025 in all entities. The Tax Agency has begun processing these payments, but not all payments have yet been processed by the Tax Agency. The bankruptcy trustee has no influence over when payment is made and does not receive any information from the Tax Agency on individual payments.
Additional state wage guarantee decisions for notice pay from April 2025 and onwards are now beginning to be processed. Decisions are being made individually why not all decision will be able to be finalized on the same day. Due to the large number of decisions, it is currently not possible to provide a timeline for when all decisions will be completed.
Many employees have requested employment certificate regarding their employment at the bankrupted companies with specification of salaries paid by the companies prior to the bankruptcies. Legally, it is the responsibility of the companies’ board of directors to provide the employees with employment certificates, and not the bankruptcy trustee. However, the bankruptcy estate has attempted to resolve this issue but has encountered certain difficulties. Further information regarding the employment certificates will be provided later.
Last, but not least, the bankruptcy trustee has submitted information to TRR for four of the five bankrupted Northvolt companies. We are still awaiting some additional salary information regarding Northvolt Ett AB, and hope to send the required information to TRR for Northvolt Ett AB this week.
Wage Guarantee Disbursements in Norhtvolt (24/4 2025)
The processing of wage guarantee payments is currently ongoing. This is an administrative procedure that requires time. Initially, the bankruptcy trustee must obtain the necessary information from the company. This information is then subject to verification, after which the decisions are uploaded to the Swedish Tax Agency’s system. Subsequently, the Tax Agency conducts a final review and executes the disbursements.
For employees at Northvolt Ett, decisions were submitted to the Swedish Tax Agency on April 23 for approximately half of the workforce. The remaining decisions were transmitted on April 24. Regarding employees in other Northvolt entities, the relevant decisions will be submitted to the Tax Agency as soon as they are ready.
Accordingly, there is a considerable risk that disbursements from the Tax Agency will be delayed.
Information, 31 March 2025
The intensive work related to the bankruptcy has continuedly been exceptionally intense and has now resulted in the Northvolt bankruptcy estates reaching a principal agreement with the relevant stakeholders regarding financial guarantees to conduct the continued operations. This agreement will be formalized in the coming days.
The ongoing operations under the bankruptcy proceedings will involve approximately 1,700 employees from the Swedish entities currently in bankruptcy. There are additionally personnel employed by foreign subsidiaries. All other personnel will be laid off, and notifications regarding this will be issued to the affected individuals starting tomorrow.
Despite significant reductions, it is positive that the business can continue to some extent, which is likely crucial to enabling a full or partial sale of the business.
At this time, I am unable to provide any further comments on the matter. Additional information will be made available as soon as possible.
/Mikael Kubu
Information, 21 March 2025
Over the past week, the work related to the bankruptcy has been exceptionally intense. The primary focus has been on exploring the possibility and structuring the continuation of operations. This requires financial commitments from various stakeholders. Maintaining certain operations is likely crucial to enabling a full or partial sale of the business. We have made significant progress in negotiations to secure the continuation of operations within the bankruptcy framework. However, the scope of the business will be smaller than previously operated. The details regarding the extent of the operations to be maintained under the bankruptcy estate’s management will be shared with the relevant parties next week. We are hopeful that a buyer will be able to continue the business thereafter.
At this stage, we view the prospects of selling the business as a producer of battery cells as promising. Nevertheless, it is critical that the process moves swiftly to ensure a smooth transition to a new buyer capable of continuing the operations developed by Northvolt.
At this time, I am unable to provide any further comments. Additional information will be made available next week.
/Mikael Kubu
Information to affected creditors.
General information on Swedish bankruptcy proceedings in summary can be found on below links.
European e-Justice Portal - Insolvency/bankruptcy (europa.eu)
Information to affected suppliers will be published shortly.
Northvolt AB, 559015-8894
Northvolt AB entered into bankruptcy proceedings on the 12th of March 2025 after a decision from Stockholm District Court. Mikael Kubu was appointed as official receiver. For proof of appointment, see Appointment Northvolt AB.
If you are affected by the bankruptcy, please see below for information.
Notice of insolvency proceedings Northvolt AB.
Lodgement of claims Northvolt AB
If you are an employee, please refer to Information to Employees in bankruptcy 2025.
Northvolt Ett AB, 559154-7715
Northvolt Ett AB entered into bankruptcy proceedings on the 12th of March 2025 after a decision from Stockholm District Court. Mikael Kubu was appointed as official receiver. For proof of appointment, see Appointment Northvolt Ett AB.
If you are affected by the bankruptcy, please see below for information.
Notice of insolvency proceedings Northvolt Ett AB.
Lodgement of claims Northvolt Ett AB
If you are an employee, please refer to Information to Employees in bankruptcy 2025.
Northvolt Labs AB, 559144-2891
Northvolt Labs AB entered into bankruptcy proceedings on the 12th of March 2025 after a decision from Stockholm District Court. Mikael Kubu was appointed as official receiver. For proof of appointment, see Appointment Northvolt Labs AB.
If you are affected by the bankruptcy, please see below for information.
Notice of insolvency proceedings Northvolt Labs AB.
Lodgement of claims Northvolt Labs AB
If you are an employee, please refer to Information to Employees in bankruptcy 2025.
Northvolt Revolt AB, 559237-8060
Northvolt Revolt AB entered into bankruptcy proceedings on the 12th of March 2025 after a decision from Stockholm District Court. Mikael Kubu was appointed as official receiver. For proof of appointment, see Appointment Northvolt Revolt AB.
If you are affected by the bankruptcy, please see below for information.
Notice of insolvency proceedings Northvolt Revolt AB.
Lodgement of claims Northvolt Revolt AB
If you are an employee, please refer to Information to Employees in bankruptcy 2025.
Northvolt Systems AB, 559244-0282
Northvolt Systems AB entered into bankruptcy proceedings on the 12th of March 2025 after a decision from Stockholm District Court. Mikael Kubu was appointed as official receiver. For proof of appointment, see Appointment Northvolt Systems AB.
If you are affected by the bankruptcy, please see below for information.
Notice of insolvency proceedings Northvolt Systems AB.
Lodgement of claims Northvolt Systems AB
If you are an employee, please refer to Information to Employees in bankruptcy 2025.
