Swedish battery manufacturer Northvolt’s ambitious plans for a large-scale battery cell factory in Schleswig-Holstein, Germany, have fallen apart, leading to insolvency. Startup company Lyten has now stepped in to acquire the remaining assets of the project for €60 million. This acquisition represents a significant reduction in value compared to the substantial state funding originally invested in the Northvolt facility. The deal allows Lyten to enter the battery production market with existing infrastructure, albeit one born from another company’s failure. The acquisition price suggests a considerable loss for initial investors. Lyten’s plans for the site and future production capacity remain to be detailed, but the move signals a continuation of battery technology development in the region. The project initially relied heavily on government subsidies to become viable.