DLA Piper confirms Letter of Intent with Lyten regarding Northvolt Ett Expansion

Jonas Premfors, the bankruptcy trustee at DLA Piper, confirms that a Letter of Intent (LOI) has been entered into with Lyten, Inc., regarding the acquisition of assets from the Northvolt Ett Expansion bankruptcy estate.

Following intensive negotiations over the summer, the parties have reached a preliminary agreement and are now drafting a transfer agreement.

“I am confident that transferring Europe’s most advanced battery facility to a new owner will pave the way for significant industrial growth, job creation and long-term value generation in the region," says Jonas Premfors.

The transaction is expected to be completed in the fourth quarter of 2025, subject to customary regulatory approvals. The purchase price remains confidential.