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| Lyten |
U.S.-based battery startup Lyten has secured a funding package of up to $650 million to accelerate the expansion of lithium-sulfur (Li-S) battery manufacturing and supply its technology to international markets. The financing, provided through multiple Letters of Interest from the Export-Import Bank of the United States (EXIM), is part of an initiative to strengthen economic ties in the Caribbean.
Lyten is actively pursuing agreements with international partners, including Memoranda of Understanding (MOUs) for battery energy storage systems in Trinidad and Tobago and other Caribbean nations. These agreements aim to fully utilize the production capacity of its newly acquired Northvolt cell manufacturing facility.
Expansion Plans in the U.S. Market
In November 2024, Lyten acquired Northvolt’s manufacturing plant in San Leandro, California, which is set to begin commercial production in the second half of 2025. This facility will play a crucial role in scaling up lithium-sulfur battery production, a promising alternative to lithium-ion technology due to its higher energy density and cobalt-free composition.
Additionally, Lyten recently announced the location for its $1 billion lithium-sulfur battery gigafactory in Reno, Nevada. The plant, expected to begin operations in 2027, will have an initial production capacity of 10 GWh per year, further positioning Lyten as a key player in the next-generation battery market.
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