Lyten acquires Northvolt Revolt battery recycling plant in Sweden

COPENHAGEN, March 13 (Reuters) - Lyten has entered into a binding agreement to acquire Northvolt's former battery recycling site Revolt, the U.S. startup said on Friday, two weeks after it completed its purchase of bankrupt Northvolt's Swedish assets.

Lyten, a Silicon Valley-based developer of lithium-sulfur batteries, has revived hopes for European battery making with its deal to buy Northvolt - once seen as the region's best chance at challenging Chinese electric-vehicle battery makers.

• "We are currently identifying the right partners to restart and scale recycling operations at the Lyten Industrial Hub in Skelleftea," Lyten CEO Dan Cook said in a statement.

• The deal with Northvolt included licenses to key technology, Lyten said.

• The Revolt site, one of Europe's largest fully integrated battery recycling plants, is located next to Lyten's Ett gigafactory in Skelleftea.

• The facility, with an installed recycling capacity of 8,500 tonnes per year and the infrastructure to scale further, supports the recycling of lithium, cobalt, nickel, and manganese, according to Lyten.

• The financial terms of the deal are not disclosed by any parties.

• The acquisition is expected to close in the second quarter this year.