U.S. chemical manufacturing firm Lyten has announced its tentative plans to acquire Northvolt’s Quebec battery plant project.
The news comes the same day that the California-based company announced it was entering into a deal to buy Northvolt’s assets in Sweden and Germany.
The acquisition includes the Northvolt Ett, Ett Expansion, and Northvolt Labs facilities located in Sweden, Northvolt Drei in Germany, and all of Northvolt’s remaining intellectual property. The financial details of the transaction have not been disclosed.
Next in Lyten’s sights is the Northvolt Six project in the Montérégie region of Quebec. The $7 billion lithium-ion battery manufacturing complex is expected to be built between Saint-Basile-le-Grand and McMasterville, 30 kilometres southeast of Montreal. …